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FINANCIAL NEWS
Abu Dhabi property rents fall 5-15% in Q1
15 Apr 2010
(MENAFN) A report issued by Asteco said that apartment rents in Abu Dhabi have declined by at least 5 percent in the first quarter this year, and rents are expected to soften further as more new properties come into the market.
During the first quarter, Abu Dhabi’s real estate market saw an average decline of 5 to 15 percent in apartment rents with significant quantities of new supply under construction this downward trend is set to continue.
According to the report, affordability has put a ceiling on villa rents in the emirate, with declines in rents particularly at the upper end of the market, and demand for office space remains subdued with potential tenants adopting a wait and see strategy in expectation of further price reductions.
Asteco said it has seen low leasing take-up rates amongst new developments which have been handed over in the last three months or are due for imminent completion.
More News
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CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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