Abu Dhabi rentals continue to decline
- United Arab Emirates: Wednesday, November 24 - 2010 at 09:57
Landmark Advisory has said that apartment rentals in Abu Dhabi have continued to decline by as much as 16% in certain areas due to oversupply of new inventory. "As expected, lease rates have continued to decline since our last lease guide in July 2010. This has impacted some areas more than others, particularly those where new supply is being delivered," Jesse Downs, director of research and advisory, Landmark Advisory said. "Going forward, lease rates will need to compete with Dubai, as there is currently oversupply in that market, causing steep price declines, coupled with better quality than is available in the capital."
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