Apartment rents in Dubai 20 percent lower than Abu Dhabi

Apartment rents in Dubai 20 percent lower than Abu Dhabi

Apartment rents in Abu Dhabi decreased…

January 11, 2010 4:23 by kippreport

Apartment rents in Abu Dhabi decreased marginally in the last three months of 2009, but are still up to 20 percent higher than the rents in Dubai, according to a report released by property services firm, Asteco.

“Given the slight increase in vacancy levels and the additional supply of residential property in Abu Dhabi, the rental market has shown signs of softening, striking more of a balance between the negotiating power of tenants and landlords,” Elaine Jones, CEO of Asteco said in a release.

However, the report says that a number of people working in Abu Dhabi are continuing to live in Dubai or are moving out there. “This trend is not expected to change in the short term without the perceived value for money versus location issue being addressed,” Jones said.

Tags: Abu Dhabi, Dubai, property, rents

Previous Article GCC Next Article

Oil prices reach 15-month high
January 11, 2010 | GCC

Divorce rates increasing in the Arab region
January 11, 2010

More on GCC

All GCC

2 Comments

Haitham on January 12, 2010 9:37 am

well its either the CEO of Asteco is not well informed or she is contradicting Asteco’s search engine on their website??!!
im looking to move to abu dhabi (from dubai) so i rushed to asteco’s website to find this alleged apartments that are just 20% more than dubai’s…and what did i find?? (according to asteco)
Search: 1 bedroom appartments (any area in abu dhabi)
60,000 – 70,000 not available
70,000 – 80,000 not available
80,000 – 90,000 not available
90,000 and more (1 bedroom apartment for 140,000)!!!!

so simple calculations say that a nice 1 bedroom in the marina in dubai is worth aprox 75,000…thus 140,000 in abu dhabi is aprox 100% increase.
well i hope im wrong and i hope Asteco is right and can provide me with a decent 1 bedroom apartment in abu dhabi for 75000 + 20% = 90,000 (obviously not a shared 1 bedroom aprtmnt in a villa)

if not, i think the CEO of Asteco needs to do her homework before giving such a statement.
DeniseTheMenace on January 12, 2010 1:33 pm

I totally agree with HAitham, I have been offered a job in A/Dhabi and the employer absolutely refuses to talk about the rent-allowance, leaving me no choice but to stick to Dubai. I have been checking and the general rents in A/Dhabi (with a +/- 30% variation due to areas…) are Studio ~80k, 1BHK~125k, 2BHK~160 …. go to forums online (like http://britishexpats.com/forum/ ) and you’ll discover there are some guys living in serviced Apts. (~80k p.a.) as it works almost the same as a studio flat in an upmarket A/Dhabi locality. I know the primary reason for this situation is demand-supply, but suspect there is definately a case of authorities not addressing the tenats side in the landlord-tenants equation. Well, till then, I am unhappily driving 3 hrs a day, 5 days a week and burning 1000 aed a month extra on fuel and add to it the drive on one of the most notorious highways (google for statistics…) Dubai-Abu Dhabi and associated life-risk.
But hey, Keep Smiling…. Cheers to all fellow-travellers !!!