Abu Dhabi sees rents continue to drop
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Abu Dhabi sees rents continue to drop

Abu Dhabi sees rents continue to drop

Real estate services firm, Asteco has said that rents in Abu Dhabi have continued to fall on average between 7% and up to 15% for lower quality properties. During the second quarter of 2010, apartments have fallen at a similar rate to that witnessed during the first quarter and that trend is set to continue throughout 2010 as more supply comes on to the market. Meanwhile villa rents in the capital have continued their downward trend of 2%-8% for traditional UAE national-owned investment villas, whereas more significant declines of up to 20% have been recorded for the five bedroom expatriate-owned villas in Al Reef, clearly highlighting a desire to achieve occupancy to cover property expenses, the report said. <i>See below for full article</i>

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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