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Abu Dhabi rent hikes shock residents in expat district
| Published: | 9 Jan at 6 PM |
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Tagged: Property Abroad
Following the Abu Dhabi government’s recent removal of the five per cent per annum cap in rent hikes, expat residents in Mussaffah district are being hit with arbitrary rises of up to 50 per cent.
Many expat families have made the sprawling commercial and residential Mohammed Bin Zayed City in Mussaffah their home from home, but have already received notice of massive increases in their rental charges. Landlords are demanding tenants either pay up or move out to cheaper accommodation.
Many tenants in the area moved here fairly recently to avoid swinging rent increases imposed by their former landlords, and are unsure of where to move next. One electronics engineer working on contract has been told he must now pay DH 35,000 more per month to stay in his two bedroomed apartment which he formerly rented for DH55,000.
Smaller commercial concerns in the area are also seeing unaffordable rent increases, due to landlords now having the sole right to charge what they like after the restrictions were removed. Other expat families who haven’t yet received notices from their landlords have no idea what to expect, and are worried they may have to move.
According to real estate brokers in the area, many large and smaller landlords were just waiting for the opportunity to raise rents given by the removal of controls. The larger landlords can control rents across entire districts simply by raising all rental charges in their many properties.
Many expat families have made the sprawling commercial and residential Mohammed Bin Zayed City in Mussaffah their home from home, but have already received notice of massive increases in their rental charges. Landlords are demanding tenants either pay up or move out to cheaper accommodation.
Many tenants in the area moved here fairly recently to avoid swinging rent increases imposed by their former landlords, and are unsure of where to move next. One electronics engineer working on contract has been told he must now pay DH 35,000 more per month to stay in his two bedroomed apartment which he formerly rented for DH55,000.
Smaller commercial concerns in the area are also seeing unaffordable rent increases, due to landlords now having the sole right to charge what they like after the restrictions were removed. Other expat families who haven’t yet received notices from their landlords have no idea what to expect, and are worried they may have to move.
According to real estate brokers in the area, many large and smaller landlords were just waiting for the opportunity to raise rents given by the removal of controls. The larger landlords can control rents across entire districts simply by raising all rental charges in their many properties.
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