2024

The city's property market rally that started after the Covid-19 pandemic will continue this year Muhammad Binghatti, the CEO of Binghatti Holding, anticipates a rise in property prices in Dubai by up to 14% this year. This growth is attributed to factors such as population expansion, increased demand for mortgages following an expected decrease in interest rates, and a greater influx of millionaires...

The robust demand for residential rentals persists due to Dubai's economic expansion and the presence of a thriving expatriate workforce. An expert informed Arabian Business that there is an anticipation of a slowdown in rental growth within the Dubai real estate market in 2024. This is attributed to the substantial influx of new properties slated to enter the market, as mentioned by Swapnil Pillai,...

According to an expert, under the new regulation, eviction notices are now linked to the property rather than the specific landlord. A legal expert informed Arabian Business that there has been a "significant legal transformation" allowing eviction notices to be transferred with a property sale. In the past, new owners had to issue a new 12-month eviction notice even if one had been previously served....

Dubai residents fear being unable to manage the rising rent costs following the update to the Rera index. Abin George, a resident of Dubai for three years in his Jebel Ali apartment, has witnessed an annual rent increase of Dh19,000. As the Real Estate Regulatory Authority (Rera) index undergoes updates, the expatriate, having resided in the same property for an extended period, expects a rental hike...