Abu Dhabi to charge 5 per cent as Municipality fee for Villas and Apartments

Abu Dhabi to charge 5 per cent as Municipality fee for Villas and Apartments

 

The Abu Dhabi residents have to pay 5 per cent annual rent as municipal fee for villas or Apartments for living in the country. Earlier it was 3 per cent, but the rise is lower than the expected 7.5 per cent. As per the charge set by the Abu Dhabi Distribution Company (ADDC), the fee for apartments was 5 per cent and that of villas was 7.5 per cent. The charge for villas is now down by 5 per cent which was 7.5 per cent before. The charge was originally 3 per cent of the value of a property’s annual rental contract, when it was announced first in February 2016. The plan to increase the charge got approval from the Executive Council in the last month. The charging of fee would be in effect from May, said a municipal employee confirming the new charge. In the opinion of Ben Crompton, managing partner of Crompton Partners, the new charge will benefit the owners.