Increasing amounts of fluctuation in the Dubai property market have resulted in the Dubai Real Estate Regulatory Authority (RERA) announcing that the new Dubai rental property index will now be updated ‘every two or three months’.
Initially, the rental property index was due to be updated every six months, however the recent turbulence in the Dubai property market resulted in increasing calls for the index to be updated on a more regular basis.
The announcement was made yesterday by the Chief Executive of Dubai’s RERA committee, Marwan Bin Ghalita.
The challenging economic conditions have resulted in a decrease in activity in the off-plan and resale sectors in the Dubai property market; however this has resulted in increasing demand for rental property in Dubai and throughout the Emirates.
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