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RESIDENTIAL rents in Abu Dhabi are expected to remain weak for the rest of this year after modest declines in the third quarter in central locations, real estate services firm CB Richard Ellis said.
Rents are likely to stabilise in 2010, it said. “Compared to the other emirates, the Abu Dhabi market is expected to maintain a relatively strong position fuelled by the existing meagre supply across virtually all asset classes,” the firm said in a report.
Apartment rents in the capital’s central locations fell by around five per cent from the second quarter and many apartment rents remained unchanged, while prices further out fell by up to 15 per cent, it said.
