Analysts say the Rera calculator reset will lead to a 10-20% increase in rents for tenants in Dubai

The increase in rents will be balanced by the growth of neighborhoods offering better deals.

Attention Dubai tenants! The recent update to Dubai’s Real Estate Regulatory Authority rent calculator has stirred up the housing market! 🏠 Analysts are calling it a double-edged sword, with rents set to rise but also new opportunities emerging.

📊 The Rera calculator got a makeover on March 1st, aiming to reflect current market rates more accurately. It compares properties in similar areas, considering factors like location, property type, and size.

💼 While rents surged by 19% in 2023, the increase has slowed down compared to previous years. Many tenants have chosen to stay put during renewals to avoid hefty hikes. But with the recalibrated calculator, some may face higher rents this year.

🏢 The adjustments aim to bring rental rates closer to market norms, providing better returns for landlords. However, it could lead to increased interest in newer, more affordable communities as tenants seek better value for money.

🔍 How does the Rera calculator work? It factors in market value and area specifics, allowing landlords to adjust rents within certain limits. But remember, negotiations between landlords and tenants can sometimes exceed these limits.

💼 This shift in the rental landscape might push more tenants towards homeownership, fostering stability in Dubai’s property market in the long run.

The Dubai property sector continues to shine, attracting both local and international investors, with a record-breaking 1.6 million transactions in 2023!

💡 How to use Rera calculator:
1️⃣ Visit the Dubai Land Department website.
2️⃣ Input property details: area, type, size, and current rent.
3️⃣ Check if an increase is applicable based on market value and area specifics.
4️⃣ Remember, negotiations can sometimes lead to higher increases than the calculated ones.

Stay informed, tenants! Don’t miss out on the latest updates shaping Dubai’s rental landscape!

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