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HTML <html> <head> <title>Surge in Leasing Charges for Dubai Property</title> </head> <body> <h1>Surge in Leasing Charges for Dubai Property</h1> <div class="info">Author: <a href="author_1_85914.html">Daniel Marshal</a></div><div class="body">The current property boom in Dubai has sent rental charges rising upwards since the year 2002, at an average 37% increase according to The Dubai Municipality. The higher cost of living, unregulated rental increases and average 1.5% salary increase in the private sector, according to a study done by GulfTalent.com, has put a lot of pressure on Dubai's tenants. To alleviate some of that pressure, the Government of Dubai moved to impose a rental cap of 15% in October 2005. <br /> <br /> Considering the rapid increase in Dubai's population that has swelled from approximately 800,000 in the year 2000 to 1.3 million in 2006, where it stands today, there is a shortage of residential apartments and villas for rent. This excess demand over supply has led to higher rental charges because property continues to be in short supply. <br /> <br /> Despite the current shortage, the future of <a href=http://www.bhomes.com target="_blank">Dubai property</a> remains extremely bright. Over the next three years an additional 84,000 accommodation units are expected to be ready for occupancy as new projects are completed. The addition of these properties is expected to help stabilize the marketplace for rents. <br /> <br /> Investors who have put their Dubai properties out for rent yield an average of 8-9 percent on their property at the current market rate. Deemed a good investment, several new comers and existing residents in the city are seeing the benefits of buying their own accommodations, instead of renting.<br /> </div> <div class="source">Article Source: <a href="http://www.articlealley.com/article_84035_33.html">http://www.articlealley.com/article_84035_33.html</a></div> <div class="author"> <div class="authorOccupation"><strong>Occupation:</strong> Realtor</div> <div class="authorBio">Daniel Marshell is senior real estate consultant associated with Better Homes India, a leading real estate firm in Dubai, UAE. He has more than 25 years of first hand experience of working in Dubai Real Estate Market. He deals in buying and selling of commercial and residential property in Dubai along with long and short term rental in Dubai and its suburbs. His firm Better Homes also offers online real estate services in Dubai. For more information about Daniel and his associated firm please visit http://www.bhomes.com/</div> <div class="authorUrl"><a href="http://www.bhomes.com/" target="_blank">http://www.bhomes.com/</a></div></author> </body> </html>
Text Surge in Leasing Charges for Dubai Property Author: Daniel Marshal The current property boom in Dubai has sent rental charges rising upwards since the year 2002, at an average 37% increase according to The Dubai Municipality. The higher cost of living, unregulated rental increases and average 1.5% salary increase in the private sector, according to a study done by GulfTalent.com, has put a lot of pressure on Dubai's tenants. To alleviate some of that pressure, the Government of Dubai moved to impose a rental cap of 15% in October 2005. Considering the rapid increase in Dubai's population that has swelled from approximately 800,000 in the year 2000 to 1.3 million in 2006, where it stands today, there is a shortage of residential apartments and villas for rent. This excess demand over supply has led to higher rental charges because property continues to be in short supply. Despite the current shortage, the future of Dubai property remains extremely bright. Over the next three years an additional 84,000 accommodation units are expected to be ready for occupancy as new projects are completed. The addition of these properties is expected to help stabilize the marketplace for rents. Investors who have put their Dubai properties out for rent yield an average of 8-9 percent on their property at the current market rate. Deemed a good investment, several new comers and existing residents in the city are seeing the benefits of buying their own accommodations, instead of renting. Article Source: http://www.articlealley.com/article_84035_33.html About the Author: Daniel Marshell is senior real estate consultant associated with Better Homes India, a leading real estate firm in Dubai, UAE. He has more than 25 years of first hand experience of working in Dubai Real Estate Market. He deals in buying and selling of commercial and residential property in Dubai along with long and short term rental in Dubai and its suburbs. His firm Better Homes also offers online real estate services in Dubai. For more information about Daniel and his associated firm please visit http://www.bhomes.com/ http://www.bhomes.com/
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