According to a new report by the consulting company ValuStrat, rents for residential real estate in Abu Dhabi fell in the second quarter to the lowest level since 2016.
The ValuStrat price Index (WPI) for rental prices in Abu Dhabi decreased by 3.4% compared to the previous quarter to 72.3 points, which is 27.7% lower than in 2016. The index is based on five locations of apartments and five villas.
It said that rents were almost 7% lower year-on-year than last year. Rents for villas decreased by 2.3% quarter-on-quarter and 6.8% year-on-year, while rents for apartments decreased by 4.3% quarter-on-quarter and 7% year-on-year.
«The exception to the negative trends were apartments in Al Reef, the prices of which were adjusted upwards ... while moderate growth was observed in the lists of villas in MBZ City, Al Reef and Al Raha», according to the report of ValuStrat for the second quarter.
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