Latest NewsNews

Abu Dhabi freezes rent increases as housing costs continue to rise

Abu Dhabi has temporarily suspended rent increases for residential, commercial, and industrial properties, providing relief to tenants amid rising housing costs and strong demand across the emirate.

The Abu Dhabi Real Estate Centre (ADREC) said the annual rental increase rate has been adjusted from 5 percent to 0 percent for a temporary period, effectively preventing landlords from increasing rents when renewing lease contracts.

The announcement follows an earlier directive freezing rent hikes until further notice.

ADREC also clarified that rental values during the suspension period will be based on the property’s most recent registered tenancy contract.

“All lease renewals and new agreements will reference the rental rate from the property’s last registered Tawtheeq contract,” the agency said.

The authority said it will oversee implementation of the directive and monitor compliance across the emirate.

Tenants and business owners who believe the policy is not being followed may file complaints through ADREC’s official website, customer service channels, or email.

Officials said the temporary measure was introduced as Abu Dhabi’s property market continues to face high demand and limited supply.

According to ADREC, occupancy rates have reached record levels in recent years, pushing new lease prices up by 15 percent across Abu Dhabi and by 23 percent in investment zones compared to the previous year.

The agency said the increase in rental costs has affected housing stability for many residents, prompting authorities to introduce temporary protections for tenants.

Under the policy, residents renewing residential leases and businesses renewing commercial contracts should not face any rent increases while the rental freeze remains in effect.

Staff Report

The Filipino Times is the chronicler of stories for, of and by Filipinos all over the world, reaching more than 236 countries in readership. Any interesting story to share? Email us at [email protected]

Related Articles

Back to top button