(Dubai) – While there are caps on increases for existing occupiers, Dubai currently has no controls on increases for new tenants. Rentals increased significantly in Dubai during 2013 as Downtown rent jumped by more than 100 per cent and other locations also witnessed more than 30 per cent rise, according to a latest report.
With the iconic Burj Khalifa and the world’s largest shopping mall as its centerpiece, the residences at Downtown are a renter’s dream, evident from the area’s ranking amongst Dubai’s most searched locations to rent throughout 2013.
The report revealed that rents gone up significantly in a double-digit in most sought after locations in the Emirate. That’s the reason the Dubai Land Department is planning to limit rent hikes when tenants change and also updating its rental price index.
