From the first of April 2024 the real estate market of UAE has faced a new regulation concerning the rental price revaluation procedure.
Under the new regulation, landlords are now obligated to provide a court decision or order to increase rental prices (previously, the landlord was just required to pay the fee to the Dubai Land Department).
Currently the main legitimate source for calculating rent increases is the Real Estate Regulatory Authority’s Price Index Calculator or RERA. The system was lately updated ( on March 2024) to ensure fair rent increases in line with the average market rental rates.
Landlords are subject to a cap when raising rent, ensuring they do not exceed a specified limit. This regulation enhances transparency in the rental market.
Let’s have a look at some figures from the first quarter of 2024 in Dubai’s rental property market: 72,885 lease agreements were renewed, involving 145,770 landlords and tenants. However, the number of renewed leases decreased by 7.2% compared to the first quarter of 2023.
Sourced from: https://dubailand.gov.ae/en/rera/#/