Dubai's real estate regulator has announced that it will launch a new "smart rental index" from January 2025. This index is designed to regulate and develop the Dubai real estate sector, especially in the field of rent evaluation.
Publish dateMonday 30 December 2024 - 12:01
According to Amac News: Citing the Dubai Land Authority, the aim of this index is to increase "trust, transparency and confidence" among owners, tenants and investors. This index provides accurate and up-to-date data for all stakeholders including investors, owners and tenants.
This index serves as a benchmark for tenants, landlords and real estate consulting firms to evaluate and calculate new leases and contract renewals. These rates will play a vital role in case of disputes between tenants and owners.
Rents in Dubai have increased steadily over the past four years, driven by the arrival of new residents and investors to the emirate. According to Cushman Wakefield and Core, rents increased by 18% year-over-year in the third quarter of 2024, marking the 15th consecutive quarter of significant growth.
In the third quarter of 2024, about 9,157 residential units were delivered in Dubai, bringing the total number of units delivered in 2024 to 22,900 units, including apartments and villas.
The Dubai Land Authority announced that the Smart Rent Index is a "comprehensive system" that combines advanced technologies with accumulated real estate experience and provides exceptional services to all market stakeholders.
In August 2024, the Abu Dhabi Real Estate Center (ADREC) also launched the capital's first residential rental index, designed to increase transparency and support the stability of the city's growing rental market.
This index serves as a benchmark for tenants, landlords and real estate consulting firms to evaluate and calculate new leases and contract renewals. These rates will play a vital role in case of disputes between tenants and owners.
Rents in Dubai have increased steadily over the past four years, driven by the arrival of new residents and investors to the emirate. According to Cushman Wakefield and Core, rents increased by 18% year-over-year in the third quarter of 2024, marking the 15th consecutive quarter of significant growth.
In the third quarter of 2024, about 9,157 residential units were delivered in Dubai, bringing the total number of units delivered in 2024 to 22,900 units, including apartments and villas.
The Dubai Land Authority announced that the Smart Rent Index is a "comprehensive system" that combines advanced technologies with accumulated real estate experience and provides exceptional services to all market stakeholders.
In August 2024, the Abu Dhabi Real Estate Center (ADREC) also launched the capital's first residential rental index, designed to increase transparency and support the stability of the city's growing rental market.
amacnews.com/vdcd.s0x2yt0ofme6y.html
Source : news agency wam
Most viewed
