August 9, 2022

Dubai Week

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Dubai Land Department Introduces First Residential Rental Performance Index

Dubai Land Department Introduces First Residential Rental Performance Index

Dubai – WAM

The Dubai Land Department, in collaboration with Property Finder, has launched the first edition of the Dubai Rental Efficiency Performance Indicator. .

The monthly rental performance index for apartments is 0.943 points 46,994 dirhams and 0.868 points is 81 dirhams, 82 dirhams, and the monthly index in the Down Index is 82 dirhams..

The number of residential lease agreements in Dubai reached 51,452 in January 2022, according to the Residential Rental Performance Index – 2013 is the base year, January 2013 is the base month and 2013 is the base quarter. Contracts, 52% of which are new contracts and 48% renewed contracts, of which 81% are annual contracts and 19% are non-annual contracts..

In order to enhance the partnership between DLD and Property Finder, the number of lease agreements reached 564,036 by 2021, the first time that a residential rental performance code containing critical and important data and information has been launched in Dubai. This led to the breaking of the benchmark number of 12 years in terms of the size of real estate lease agreements..

And when comparing the data of the last few years, it is clear that the average annual number of lease agreements has increased by about 7% in the last five years. By 2020 contracts have increased.

The results show that the numbers and data achieved on land are better than polls and expectations, and there are many facts to be published and published in the market to achieve complete transparency..

As of January 2022, the number of lease agreements in Dubai has reached more than 51,452, with 52% of new contracts and 48% of renewed contracts being distributed. .

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According to Property Finder data, the most popular rental deals for apartments are two-bedroom apartments, followed by one-bedroom apartments. Bedrooms.

The Jebel Ali First region topped the list of regions with the highest number of lease agreements in January 2022, with 1,811 agreements, followed by the “Ezari” project, which specializes in signing and renewing lease agreements, followed by the Naif region, followed by “1,760 deals” and then Al Karama “1,754 deals”. It was followed by the Warsaw First Region, the “1,601 Agreement” and the Al Souk Al Kabir “1,457 Agreements” in the same areas as the top five in 2021..

Later, the list includes Commercial Bay Area (1,317 contracts), Al Nahda 2 (1,276 contracts), Al Barsha South (1,192 contracts), Dubai Marina (1,174 contracts) and one share (1,098 contracts). The top ten areas accounted for 28% of total lease transactions in January 2022.

According to the Property Finder database’s demand data, Dubai Marina topped the rental search for apartments on the platform in 2021, surpassing 11% in all searches, followed by Dubai Downtown, Business Bay, Jumeirah Village Circle and Lake. Towers Jumeirah.

In terms of villas / townhouses, searches concentrated in Jumeirah, Dubai Hills Estate and The Springs by 2021, accounting for about 18% of the total searches, followed by Arabian Ranches and Umm Sukim, showing the extent of real estate demand. Um Sukeem Street.