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Rising rents in Dubai spark fears among residents
三月 8, 2024
Rising rents in Dubai spark fears among residents 迪拜
By   Internet
  • 城市報
  • Dubai Property
  • Rising Rents
  • Dubai Housing Market
Abstract: The recent escalation of rental prices in Dubai has garnered significant attention. According to a survey conducted by KT, hundreds of residents are facing the possibility of rental increases of up to 20%. This situation presents a daunting challenge for expatriates who have been residing in Dubai for many years.

Abin George is one of the affected residents who has been living in an apartment in Jebel Ali for three years, and his annual rent has increased by AED 19,000. With the update of the Real Estate Regulatory Agency (Rera) index, he anticipates even higher rent this year compared to previous years. Furthermore, experts point out that the revision of this new index may impact tenants who have resided in the same property for over two years.

Faced with the impending rental hikes, many residents have expressed concerns and dissatisfaction. In the KT survey, over half of the respondents indicated they might have to pay an additional 5% to 10% in rent, with 23% believing the increase could exceed 20%. Some residents have already begun feeling the pressure of rising rents.

In response to this situation, some residents have chosen not to relocate as finding comparatively priced accommodations in the current real estate market is challenging, and relocation itself entails additional costs and effort. As Abin George stated, despite facing rent hikes, he has no intention of moving out as his community's location is ideal for his job requirements. On the other hand, some residents have begun searching for alternative accommodations but have found it difficult to find reasonably priced options in the current market conditions.



Apart from individual-level concerns, this issue has also led to anxieties within families. A resident named Nousheen, living in Discovery Gardens, faces pressure from her landlord to increase the rent from AED 42,000 to AED 60,000 annually or face eviction. She mentioned that she has been living in the area for four years, and finding another reasonably priced apartment nearby is challenging.

In this context, some tenants may begin negotiating with landlords to seek more reasonable solutions. Meanwhile, for residents facing challenges in affording substantial rental increases, they may need to carefully assess their financial situations and seek assistance and advice from relevant departments or organizations.

The issue of rental hikes is not only a personal challenge but also requires attention and intervention from the government and relevant authorities. Measures such as strengthening rent controls, providing more affordable housing options, and improving tenant rights protection may be considered. Through reasonable policies and measures, the current challenges posed by rising rents can be alleviated, promoting social stability and the well-being of residents.

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Rising rents in Dubai spark fears among residents
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