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Mr. Santomauro said his company has a rent cap of $1,500.
Berlin has recently become the first European city to introduce a rent cap.
The rent cap will help ease these pressures, at least for the time being.Dig a little deeper, though, and Dubai's rent cap could be a case of the cure being worse than the disease.
"Ultimately, the rent cap will result in a lack of proper investment by landlords in the property.
Berlin is pioneering the rent cap after the national parliament approved the law, aimed at areas with housing shortages, in March.
The poor and the elderly will be unaffected by the new rent cap – what they need is housing which is not at, but well below, the neighbourhood average.
Similar(20)
But interfering with market forces in such a vibrant economy--as the government has done with the rent cap--is bound to have repercussions.
We need rent caps.
And what, exactly, is Ed Miliband's rent capping idea?
Before rent caps were enforced, landlords were able to set initial rents at whatever they wanted.
For private renters: Rent caps will be introduced alongside and minimum five-year tenancies.
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