RENT GAINS IN DUBAI NEED SOME COOLING DOWN: Rents are on the up, that’s a detail many tenants in Dubai have been getting a feel of. Latest data suggest that while property value gains are starting to stabilise or drop slightly, it’s not the case with rentals, with those on homes upwards of 25 per cent. At some point, it will require the authorities to weigh in and cool the market down. Sure, there’s always the bit about demand and supply, and the fact that Dubai rents are coming off a five-year period of declines. But 25 per cent increases within 12 months needs looking into. RERA has the mechanisms in place that could help – it’s for landlords and tenants to agree to let those RERA processes in on their negotiations. (By Manoj Nair, Business Editor)
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