{"id":39151,"date":"2016-12-28T21:11:36","date_gmt":"2016-12-28T14:11:36","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-business-as-usual-for-abu-dhabi-under-rent-cap\/"},"modified":"2016-12-28T21:14:56","modified_gmt":"2016-12-28T14:14:56","slug":"its-business-as-usual-for-abu-dhabi-under-rent-cap","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/its-business-as-usual-for-abu-dhabi-under-rent-cap\/","title":{"rendered":"It\u2019s business as usual for Abu Dhabi under rent cap"},"content":{"rendered":"


\nFirst cap on rentals since 2013
\nEtihad Towers in Abu Dhabi. Patryk Kosmider\/Shutterstock
\nThe Abu Dhabi property scene is still reckoning with the government\u2019s decision to impose a rental cap for the first time in three years, The National reported.
\nSome thought the move redundant, seeing as rental rates across the UAE have been on a downward trajectory due to slumping petroleum prices.
\n\u201cI\u2019m not sure whether there is an actual need for it now or for the next 12 months because rents are falling,\u201d Edward Carnegy, who heads the Abu Dhabi branch of property consultancy Cluttons, told The National.
\nRents for existing tenants across the emirate are now capped at 5 percent per annum, the Department for Municipal Affairs and Transport announced two weeks ago.
\nMore: Abu Dhabi rents spike, Dubai rents drop
\nAverage Abu Dhabi apartment rents in November stood at AED129,000 (USD35,100), a 1 percent drop from the previous month, property portal Bayut.com reported.
\n\u201cI think possibly the effect of the reintroduction of the rent cap could be that rents start to stabilise next year,\u201d Andrea Menown, head for investment sales at property broker LLJ, told The National.
\n\u201cAt the moment we are seeing that it is the larger and more expensive properties which are seeing the biggest falls in rents. This is the case especially for villas, both privately owned and in compounds, as well as higher-end apartments on Reem Island where tenants have been re-evaluating their cost of living or been affected by job losses.\u201d
\nThe Abu Dhabi government introduced a rent cap in 2006 at 7 percent per annum. It was adjusted to 5 percent in 2010 and finally eliminated altogether in 2013.
\nRead next: How Abu Dhabi could replace Dubai as UAE\u2019s investment haven
\n
\nSource : property-report.com
\nRead more…It\u2019s business as usual for Abu Dhabi under rent cap<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

First cap on rentals since 2013 Etihad Towers in Abu Dhabi. Patryk Kosmider\/Shutterstock The Abu...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-39151","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-abt","jetpack-related-posts":[{"id":37976,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-reinstates-5-rent-cap\/","url_meta":{"origin":39151,"position":0},"title":"Abu Dhabi reinstates 5% rent cap","date":"December 13, 2016","format":false,"excerpt":"\r Abu Dhabi has reinstated a cap on rent increases of five per cent, three years after abolishing it, the Department of Municipal Affairs and Transport (DMAT) said on Tuesday.The rule is effective from Tuesday, the DMAT said in a statement.Abu Dhabi abolished the rental cap in November 2013, a\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39089,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-caps-rent-rises-just-as-they-fall\/","url_meta":{"origin":39151,"position":1},"title":"Abu Dhabi caps rent rises, just as they fall","date":"December 28, 2016","format":false,"excerpt":"\r Two weeks after the Abu Dhabi government reintroduced a rent cap in the capital, landlords and tenants are still weighing what this will mean for the rental market next year.On December 13, the Department for Municipal Affairs and Transport announced that it had taken the unexpected step of reintroducing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":39095,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-landlords-weigh-options-of-reintroduced-rent-cap\/","url_meta":{"origin":39151,"position":2},"title":"Abu Dhabi landlords weigh options of reintroduced rent cap","date":"December 28, 2016","format":false,"excerpt":"\r Two weeks after the Abu Dhabi government reintroduced a rent cap in the capital, landlords and tenants are still weighing what this will mean for the rental market next year.On December 13, the Department for Municipal Affairs and Transport announced that it had taken the unexpected step of reintroducing\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4275,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-abu-dhabi-rents-have-risen-and-fallen-2015-in-pictures\/","url_meta":{"origin":39151,"position":3},"title":"Where Abu Dhabi rents have risen and fallen, 2015 – in pictures","date":"February 10, 2016","format":false,"excerpt":"\r \r Find out how rental prices in Abu Dhabi have changed in 2015 and the average annual rates you will pay, according to data provided by Asteco.\r \r \r \r \r \r \r \r \r \r \r \r \r \r \r \r \r \r \r \r Source : thenational.ae\r\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34646,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/economic-uncertainty-sees-abu-dhabi-rents-continue-to-decline-in-q3-asteco\/","url_meta":{"origin":39151,"position":4},"title":"Economic uncertainty sees Abu Dhabi rents continue to decline in Q3 – Asteco","date":"November 16, 2016","format":false,"excerpt":"\r Rental gap for high-end apartments between Dubai and Abu Dhabi reduced significantly over the last quarter\r \r Source : arabianbusiness.com\r Read more...Economic uncertainty sees Abu Dhabi rents continue to decline in Q3 - Asteco","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":26436,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/where-abu-dhabi-rents-have-risen-and-fallen-h1-2016-in-pictures\/","url_meta":{"origin":39151,"position":5},"title":"Where Abu Dhabi rents have risen and fallen, H1 2016 – in pictures","date":"September 18, 2016","format":false,"excerpt":"\r Find out how rental prices in Abu Dhabi have changed during the first half of 2016 and the average annual rates you will pay, according to data provided by Asteco.\r \r Source : thenational.ae\r Read more...Where Abu Dhabi rents have risen and fallen, H1 2016 - in pictures","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39151"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=39151"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/39151\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=39151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=39151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=39151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}