DLD: First ever Residential Rental Performance Index for Dubai released

DLD: First ever Residential Rental Performance Index for Dubai released

Dubai, UAE – Dubai Land Department (DLD), in cooperation with Property Finder, launched the 1st edition of Dubai’s first ever official Residential Rental Performance Index (RRPI). In January 2022 the overall monthly Index recorded 0.938 and an index price of AED 51,101. apartments monthly Index recorded 0.943 and an index price of AED 46,994, while Villas/Townhouses monthly Index recorded 0.868 and an index price of AED 131,882.

The base year for RPPI is 2013 and the base month for the monthly index is January 2013, with the base quarter for the quarterly index being Q1 2013. According to the index, 51,452 leases were recorded in January 2022, 52% of which were new contracts, and 48% were renewed contracts, while 81% of them were annual contracts, and 19% were for non-annual.

Overview

For the first time ever, the Dubai RPPI has been released in partnership between DLD and Property Finder. Within this insightful data, there is a plethora of information that is quite notable. In 2021, 564,036 leases throughout the year which broke a 12-year record in terms of volume for real estate rental contracts.

Annual leases increased by 50.3% and non-annual leases increased by 75.5% in 2021 compared to 2020. When comparing the data