Abu Dhabi Rents Dip 20% in Q1Tuesday, April 14, 2009
Rents in Abu Dhabi fell up to 20% in the first quarter of 2009, according to a new report by Asteco, the UAE's largest property services company. Average rents dropped most on mainland Abu Dhabi, while rates for properties on the island dipped by about 10%. The capital is currently witnessing an improvement in supply with an increase in availability of residential apartments in the Corniche, Hamdan Street, Passport Road and Muroor areas due to tenants moving out of the country, the report added. Residential apartments in Khalidiya and Corniche are in high demand and continue to command a premium. Source: AME Info
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