Monday, March 18, 2013

RERA Rental Index guideline for 2013 released

The Dubai RERA (Real Estate Regulatory Agency) latest rental index for the year 2013 shows that 'The Greens' community by Emaar, draws the highest rentals, surpassing the Dubai Marina and Downtown

Dubai, which saw the highest transaction activity and price hikes last year.

Emaar's The Green community showed 22 percent hike in rentals for studio, 15 percent for single bedrooms and 28 percent for double bedroom apartments.

The RERA index is usually updated thrice a year. The current rents for studios fall in the average of Dh.45000 and Dh.55000 per annum, in comparison to Dh.35,000 and Dh.55,000 stated in last index update in 2012. Single bedrooms are now available for Dh.55,000 to Dh.75,000 per annum, while double bedrooms are leased for Dh.90,000 to Dh.110,000 pa.

Dubai Marina saw 18 percent increase in rentals for double bedroom units starting from Dh.70,000 to Dh.130,000 per annum.

In Downtown Dubai, the cost of leasing double bedrooms range from Dh.110,000 to Dh.140,000 per annum, marking an increase of 16 percent, while single bedroom units on Palm Jumeirah are priced between Dh.75,000 and Dh.120,000 per annum and prices for single bedrooms in Discovery Gardens are Dh.35,000 to Dh.45,000 per annum.

The index serves as a guideline to landlords and tenants for rent pricing. Here's the RERA rent calculator for the year 2013.

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