House rents continue to increase
House rents continue to rise due to increasing demand for housing fuelled by increasing population.
Year-on-year rent inflation was 6.2 percent by October-end, while overall consumer inflation was less than half at 2.8 percent, consumer price index (CPI) figures released by the Ministry of Development Planning and Statistics suggest.
Food, textiles, home appliances, medical care and entertainment all became costlier in a year.
The ministry said rising rentals of residential buildings were the main contributing factor to the increase in the CPI for ‘rent, fuel and energy’.
The three items are clubbed together and have a weight of 32.2 percent in the CPI basket. Food became 2.6 percent costlier.
Figures show that compared with the previous month, rents were slightly up (by 0.8 percent) in October.
So at the time of signing the contract you are going to pay
*1 month rent advance
*1 month deposit
*Half month commission
*2000 for Kharamaa
???
domino effect!
If the rents were raised or kept on rising than it could have been understood if it was London or New York but out here it seems like pure and simple greed by a few and their middle men who are giving the place a bad name. Here the rents keep rising but the places on offer are still the same if not worse
The main reason for inflation is increasing rents, the reason for increasing rents are because locals are blindly increasing their rents. Starting from small shop owners to big companies are worried about this. What they do in turn? they increase the prices and goods they are dealing with. Barber increasing hair cutting charges, grocery owners increasing the margins etc..one more reason behind the inflation is increase in number of intermediaries which results due to laziness of locals. Locals simply decide on a rate for their property and rents it to an arab, next arab sub rents it to an asian, then asian subrents it again to end users. Here in each stage everyone is keeping a high margin. If the authorities can't take measures to control this it would sound like an indirect tax imposed on expats hard earned income.
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Real estate Agents are real blood sucking Agents
CS, Your comment has weight .... Thu , 21.11.2013 , 11.48 hrs
Not suprising who has posted this...A Real Estate agent...Might be that even Peninsula was paid for this report to increase prices...such scams...
Plan & behave in a way so that you could be a good guest for atleast 12 dinners / month at your colleagues / bosses / associates' homes / etc ... Thu , 21.11.2013 , 11.27 hrs
Solution is to increase your outings & meeting friends ...... Thu , 21.11.2013 , 11.12 hrs