The Dubai Land Department (DLD) has updated their annual rental index for 2018. Using data stored within the Ejari and DLD system, the index includes all types of property from residential to commercial, new upcoming developments and even a land rent index which had been added for the first time.
Mohammed Yahya, the Deputy Executive Director of the Rental Affairs Sector at DLD, explained: “The rental index is based on a calculation of the increase in rental values, reflecting average rents in different areas, the rental value of registered leases, and the properties offered for leasing. Updating the rental index once a year helps us to maintain transparency in rental transactions for the various properties available for leasing throughout the Emirate. This limits conflict between the parties involved, especially as it is a reference that everyone can rely on.”
The index is usually updated once a year at the end of September to allow for landlords to communicate any rental changes to their tenants and has been used as a reference in dispute cases between tenants and landlords over rental values.
Due to the number of calculations and reference points used for the index, it is a highly trusted resource for all members of the realty sector. There is a positive correlation between the rental index and the lease type.
The full index can be found here: https://www.dubailand.gov.ae/English/Pages/rental-increase-calculator.aspx