Monday, February 4, 2013

Abu Dhabi rents shoot up as government workers relocate from Dubai


Rents in Abu Dhabi's prime areas have risen by as much as 25 per cent over the past six months as the city experiences an influx of Abu Dhabi government workers living in Dubai.
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According to the property agent Cluttons, average rents in some of the city's most exclusive areas have increased by 10 to 25 per cent during the past six months, following a decree last year that could result in government departments cutting housing allowances for employees living outside the emirate and as renters flock to newer schemes.
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Cluttons reports that areas such as Raha Beach, Raha Gardens, Al Reem Island, Saadiyat and Al Reef have all recorded rent increases over the past six months, even though average rents in the city have fallen significantly, driven by an oversupply of apartments.
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Read more:
http://www.thenational.ae/thenationalconversation/industry-insights/property/abu-dhabi-rents-shoot-up-as-government-workers-relocate-from-dubai#ixzz2JuM5BpAB

1 comment:

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