Dubai: Residents looking to rent a home in Dubai will no longer have to go by what the landlord or the broker says. Instead, they can get all of the rental records of that particular unit with the click of a few buttons – the Dubai Land Department is making sure of that.
This can be done through ‘DXBinteract.com’, which gives real-time info on the rental history. The new initiative also gives prospective property investors a listing of past values before they take the decision to buy.
“This is a complete break from the past because the property info is delivered in real-time,” said Firas Al Msaddi, CEO of fam Properties. “Until now, available market-related data had been focussing on areas and communities as well as buildings. Now, it goes down to the individual unit.
“All that a tenant needs to know how much a particular apartment in Dubai was renting for is to enter the area name, project name and the apartment’s number to access all historical leasing transactions. This kind of data is equally important for landlords as they can run detailed market comparison analysis on neighbouring properties and projects.
“The era of static, generic market reports is over.”