Owners risk huge compensation payouts by evicting tenants from their homes to boost rents
Rogue landlords in Dubai are attempting to raise rental prices by several times the legal limit set by the authorities, residents and real estate experts said.
Dean Charter, managing partner of Paragon Properties, said some landlords will leave a property empty and wait for a higher price.
“Pre-Covid, a Dubai Hills villa that would rent for Dh180,000 is now going for Dh300,000,” he said.
“Legally, landlords can only increase by 20 per cent a year, so they are asking well above what the Rera calculator says.
“A lot of new agents are coming here to operate, and with so little stock available it creates an inflated market.
“Some landlords are happy to keep a property empty for a period of time to capitalise on rising market rates, but it is a risk.
“Normally, a vacant villa is either associated with a problem with the building or a greedy landlord.”
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