-oil industry seen as fuelling increases
By Khadidja Ba
Rental prices in the city have risen so much over the past five years that even renting a habitable one-bedroom apartment for less than $80,000 per month is a challenge.
Additionally, with the recent oil boom and the presence of expatriates, the influx of refu-gees and immigrants escaping crisis situations or just coming to Guyana to study, locals face increasing challenges renting.
In interviews with Stabroek News (SN), young professionals, students, and middle-aged professionals all voiced similar views. A medical professional noted that her rent had soared significantly in the past five years without any prior notice or reasonable justification. Dur-ing another interview with SN, a young professional shared that his rent has increased twice within the past seven years. The first increase was by $20,000 in 2019 and the second was in 2022 even though there hasn’t been any change in his salary or job opportunities. The tenant shared that the reasons given for these increases were that “the landlord wanted to do some upgrades to the house the first time and the second he didn’t give a reason”. While it is understood that this is not the case for every tenant, it has become a trend for many landlords to increase their prices without reason, justification nor accountability.