Some tenants will have to pay more rent, despite a decree issued by Sheikh Mohammed earlier this week.
Sheikh Mohammed bin Rashid Al Maktoum issued a directive freezing rents on residential and commercial properties in the emirate in 2009, for tenants who renewed their contracts last year.
However, if rents are more than 25 percent below the guideline figure recommended in Dubai’s new rental index , then the freeze does not apply. This means many expats who arrived in the emirate before rampant inflation took hold, face paying substantially more to renew their leases this year.
To find out more about the new index, and what your home is worth, log onto… http://www.rpdubai.ae/rpdubai/jsp/template.jsp?pageID=50014&〈=0