Welcome to Dubai’s Dynamic Rental Market
Understanding the Impact of RERA Calculator Reset on Dubai’s Rental Market
About the RERA Calculator Update
In March 2024, Dubai’s Real Estate Regulatory Agency (RERA) implemented a significant update to its rental increase calculator, which has resulted in noticeable changes in the rental market, affecting tenants with higher rents.
Key Details of the Update
The updated RERA calculator is designed to more accurately reflect current market conditions, impacting rent evaluations and adjustments across Dubai. This change aims to align rents with real estate market values, fostering transparency and fairness in lease renewals.
Impact on Tenants
Many tenants are now facing increased rents at the time of lease renewal due to the updated benchmarks set by the new RERA calculator. This adjustment is part of a broader trend of rising property values and rental costs in the city.
Advice for Tenants
Tenants are encouraged to stay informed about the market and negotiate with landlords. Understanding the specifics of the RERA calculator can empower tenants in these discussions, potentially leading to more favorable rental terms.
