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Abu Dhabi rents decline further in Q3, says report
Rents in the UAE capital declined between 5 and 10 percent during the third quarter of 2009…
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Nov 4th, 2009
Rents in the UAE capital declined between 5 and 10 percent during the third quarter of 2009, CB Richard Ellis (CBRE) said in a report published on Wednesday. Rental rates in the center of Abu Dhabi fell approximately 5 percent during the period, and rates of units located off the island fell between 8 to 15 percent. However, rental rates in some areas, such as the central business district, did not decline.
“Our research has identified a downward movement in sale prices during Q3, with sales transaction activity at extremely low levels,” Matthew Green and Arlene Jimenea wrote in the report.
The report also showed that the rate of decline has slowed between in the third quarter compared to the previous quarter. According to CBRE’s report, rental rates fell between 5 and 10 percent during the second period of 2009.
CBRE expect Abu Dhabi’s rents to stabilize in 2010.
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CBRE also posted a report this week on Dubai where rental prices compared to this time last year are down 50%, you can see an overview here http://www.cityscapeintelligence.com/property-insight-from-dubai-q3-2009-marketview?country=
Interesting that even with tough bargaining my rent has been the same for the past 3 years
No rents have gone down in Auh. That’s a pure lie on your article of rent decline. I have called almost all the agents asking for a 2 bedroom flat, anywhere in AUH. But all they have with reasonable rates is in Baniyas. So how about that?