Apartment rents up by 20%

02.12.2014
The average villa and apartment rents in Dubai have now gone up nearly 18% in the last 12 months. The cost of living in Dubai is showing no signs of let-up, with the average villa and apartment rents going up nearly 18% in the last 12 months, according to a Gulf News report.
According to the October 2014 results of the Dubai Rental Price Index by Reidin.com, apartment rental prices registered the highest increase, at 20.2% year-on-year.
Villa rental prices, on the other hand, posted a 6.6% year-on-year increase.
A month-on-month comparison of rents, however, shows that rates have not moved much between September and October.  Apartment rents increased by only 0.43% on a monthly basis in October 2014. The corresponding increase for villa rents was 0.29%.
The continued rise in demand for residential units in Dubai has somehow put  an upward pressure on rental costs. New properties have recently been launched in Dubai, with some of them snapped up within hours of launch.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

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Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

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  • 4% - registration of the transaction at registration

Additional services:

Property management

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Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

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  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

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None

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the management process

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1 year

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Reporting

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From 3 days

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Expenses of the investor:

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