Dubai’s Real Estate Regulatory Authority (RERA) has plans in the pipeline to issue a comprehensive real estate survey. The real estate price chart will consist of the rates of differing property bands within various areas of Dubai.
However, there is debate between real estate experts as to the effect the move will have on the sale-purchase and rental of Dubai real estate. One school of thought goes with the idea that the list by Dubai Real Estate Regulatory Authority will be used by landlords in that they will increase real estate rentals. So for those who own Dubai real estate, RERA’s endeavour is good news. On the other hand, the price transparency brought in Dubai real estate market by the Real Estate Regulatory Agency is something that will be enforced uniformly across the emirate.
The real estate price index will be a guiding document for tenants and landlords along with those interested in buying Dubai real estate. The statistics for the list are being put together across a whole array of apartments and villas in Dubai. The data thus collated with include details regarding Dubai real estate units. These will have the number of bedrooms available in the Dubai real estate development, the facilities that have been featured in the development, the square footage along with samples from all respective communities.
The final outcome of the exercise would be a list that will be the most comprehensive survey of its kind that would have been carried out in Dubai real estate at the microcosmic level and the emirate at large. However, it is not certain at the moment as to when the statistics will be issued. At the beginning of 2008, the Real Estate Regulatory Agency of Dubai Land Department had started with the collection of data. Tentative date of release is somewhere near the end of this year or the beginning of 2009.