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Abu Dhabi house rents to drop further

House rents in the city fell by up to 15 percent during the fourth quarter of 2009, according to landmark Advisory.

February 9, 2010 12:01 by



Residential rents in Abu Dhabi decreased by up to 15 percent during the fourth quarter of 2009, according to the latest report issued by Landmark Advisory. The low-quality units saw the biggest falls, Jesse Downs, director of Research and Advisory Services at Landmark Advisory said in a release.

The report predicts that rents in the city are likely to continue declining throughout the first quarter of 2010 because of rising supply and increasing flexibility among landlords. “Since Q209, the supply and demand dynamics of Abu Dhabi’s rental market have been changing,” Downs said. “We expect continued relocation from Abu Dhabi to Dubai, which will put further downward pressure on Abu Dhabi rents,” she added.



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2 Comments

  1. rb on February 10, 2010 6:59 am

    There is increased migration from Dubai to Abu Dhabi due to the employment situation in Dubai . Large no of Co’s, banks , hotels have laid off no of people & many amongst these have seured jobs in auh, so rents are likely to remian high . Eg. The Al Reef Villas in Abu Dhabi considered to be one of hottest properties..The 1st phase -Arabian has been delivered & 2 BR villas rentas are approx Aed 150 k.

     
  2. Haitham on February 10, 2010 1:55 pm

    thats more reasonable than what better homes CEO mentioned earlier this year on kippreprt saying that the prices dropped 50% by Q4 2009!!!

     

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