Property

Rents Continued To Fall In Abu Dhabi In Q2

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Rents in Abu Dhabi continued to fall quarter on quarter in Q2 2018.

Rents in Abu Dhabi continued to fall quarter on quarter in Q2 2018.

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According to Chestertons’ latest quarterly Observer, average rents were down 3% on apartments and 1% on villas in the UAE capital.

The good news for flat hunters may be set to continue. Around 6000 new units are set to enter the market over the remainder of the year, which should help keep rents down.

“Landlords are having to pull out all the stops to ensure continued occupancy of their properties,” said Ivana Gazivoda Vucinic, head of consulting and valuations and advisory operations, Chestertons MENA.

SEE ALSO: Dubai’s rent continued to fall in Q2

“Incentives include reduced prices, multiple cheques and even waving agency fees.”

If you’re looking to buy to live in the UAE capital, there’s also good news.

Sale prices of apartments and villas were down 3% and 4% respectively quarter-on-quarter.

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