Rera index for Dubai has been updated and is likely to impact tenants who have been living in properties for over two years

According to an expert, renters who have been residing in houses for more than two years are likely to be impacted by the latest Real Estate Regulatory Authority (Rera) index for Dubai. The CEO of Betterhomes, Richard Waind, claims that on March 1st, the Rera calculation was revised to more closely align future renewals with open market rentals. The calculator, which is based on a benchmark rate for each neighbourhood, indicates to landlords and tenants how much rent can increase upon renewal.

Industry insiders warned that owing to revisions in some locations, rents might increase by 10 to 20 percent in the near future.