The Dubai Land Department has updated its rental index for 2018 covering all residential, commercial and industrial properties in Dubai
For the first time in 2017, a land rent index has been added for land with annually renewable lease contracts
The Land Department has adopted new mechanisms for upgrading the index, like reading the average data of tenancy contracts and real estate data registered in its databases
The lowest year-on-year drop have been about 2% while the highest has been 10%
The Dubai Land Department (DLD) was established in January 1960 to handle all matters of legalisation for sale and purchase of land in the emirate of Dubai
The Dubai Land Department aims to focus on three primary needs of Dubai residents and investors – Innovation, Happiness and Confidence
The Dubai Rental Index is based on Decree No. 43 for the year 2013, which set set 10% increase of the rental value for the real estate unit if the rental fee is between 21%-30% of the average wage
Decree No. 43 has set an increase of 15% in Dubai if the rental fee is 31%-40% less than the average wage
An increase of 20% has been set by Decree No. 43 if the rental fee is less than 40% of the average wage
