The property rentals across Dubai have seen a hike, and this applies to the properties in Dubai South as well.
The tenants who had been living in the sprawling mixed-use development for some time have certainly been feeling the pinch now, with lease contracts getting renewed at 15-20 percent higher than what they have been paying. This has been particularly noticeable in renewals done through the summer.
As per the property market sources, the landlords in Dubai South are enforcing higher rates on lease renewals. This flexibility has been allowed to the landlords by the revised RERA Rental Index, which came into effect in the month of April.
Dubai South has seen some of the newly delivered homes that were rented out. As per the figures available, July alone saw 425 new leases, which were signed for the homes at the master developments.
