By Alessandro de Rubertis
Dubai Real Estate News For Investors is your go-to podcast for the latest insights, trends, and updates on the dynamic Dubai property market. Whether you're a seasoned investor or just start
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Gold prices in Dubai reached a record high on Wednesday, rising by Dh2.75 per gram.
The 24K gold variant hit Dh322 per gram, surpassing the previous high of Dh319.5 set on Tuesday. Other gold variants—22K, 21K, and 18K—also reached all-time highs of Dh298.0, Dh288.5, and Dh247.25 per gram, respectively.
The surge in gold prices is attributed to the U.S. Federal Reserve's recent interest rate cuts and geopolitical tensions in the Middle East.
Analysts expect the rally to continue, driven by inflows to exchange-traded funds (ETFs), further rate cuts, and strong demand for gold from central banks in emerging economies. Geopolitical risks and investor preference for safe-haven assets are also contributing to the upward trend.
Source: https://www.khaleejtimes.com/business/markets/dubai-gold-prices-surpass-dh320-per-gram-hit-new-record-high
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Dubai tenants are facing tough decisions in the coming weeks as they need to decide whether to renew their leases or relocate, prompted by changes in the RERA Rental Index.
This updated index allows landlords to set rents in line with current market rates, leading to expected double-digit rent increases, particularly for apartments. Rent hikes could reach up to 20 percent upon lease renewal, significantly impacting tenants’ budgets.
With the summer break approaching, tenants must make these decisions quickly. The revised index grants landlords greater flexibility, aligning rents with market averages, which complicates the renewal process and increases costs for tenants.
Consequently, they must evaluate whether to accept higher renewal rates or search for new rental properties that might offer more favorable terms.
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