Abu Dhabi tenants receive rent increase notices

A number of Abu Dhabi tenants have received notices from their landlords notifying them of rent increases between 10 per cent and 50 per cent, while others were surprised to see notices posted at their building’s entrance saying rents will be increased to a uniform value, reported Al Ittihad, The National’s Arabic-language sister newspaper.

Tenants said rent increases have led them to find alternate housing and complained the actions were a threat to families’ stability.

Rental prices for villas and apartments saw an 8 per cent increase in Abu Dhabi in the second quarter of 2014, according to Asteco Real Estate’s report. The report highlighted an average increase of 4 per cent for apartments in the second quarter compared to the first quarter, and a 29 per cent increase compared to the same period in 2013. Villa prices rose 2 per cent quarterly.

Hassan Al Sharabi said that he and other tenants in his building received a letter from the management company noting that rent for three-bedroom apartments had increased from Dh70,000 to Dh90,000 per year.

He said if he could not find an affordable alternative for housing he would have to send his family home.