{"id":42557,"date":"2017-02-01T23:11:11","date_gmt":"2017-02-01T16:11:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=42557"},"modified":"2017-02-01T20:23:47","modified_gmt":"2017-02-01T13:23:47","slug":"rents-and-house-prices-continue-downward-trend-in-abu-dhabi","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/rents-and-house-prices-continue-downward-trend-in-abu-dhabi\/","title":{"rendered":"Rents and house prices continue downward trend in Abu Dhabi"},"content":{"rendered":"


\nHouse prices and rents in Abu Dhabi are set to maintain a downward trend this year as the fallout from the recent oil price drop continues to affect the market. According to the property broker Core Savills, prime and mid-prime villa values in Abu Dhabi will fall this year by at least 15 per cent while apartment values will fall by 7 per cent. In its Abu Dhabi Market Review, Core Savills said that the price falls would be similar to 2016 levels because “similar market conditions persist”. Core Savills said that housing rents in the capital would also remain under pressure this year as vacancy rates across the city continue to creep upwards as a swath of mergers among Abu Dhabi-based companies including Mubadala and IPIC and NBAD and FGB has led to job cuts. “These consolidations are starting to reflect in the slowing population growth,” said David Godchaux, its chief executive. “Contractions in housing allowances and disposable incomes coupled with the growing inflation rate have led to a steep downward adjustment on the demand for both residential and commercial real estate.” Core Savills said that price and rent falls would be particularly marked on Reem Island where another 2,400 homes are expected to come to the market this year as towers including Marina 1&2, Sigma 1&2, Al Shams Tower and M Tower are all due to be delivered this year.”This glut in supply will be hard to absorb and is expected to cause a sharp drop in both rentals and sales values in Reem Island area,” Mr Godchaux said.lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Rents and house prices continue downward trend in Abu Dhabi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

House prices and rents in Abu Dhabi are set to maintain a downward trend this...<\/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-42557","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-b4p","jetpack-related-posts":[{"id":43837,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-residential-rents-to-continue-to-decline-in-2017\/","url_meta":{"origin":42557,"position":0},"title":"Abu Dhabi's residential rents to continue to decline in 2017","date":"February 12, 2017","format":false,"excerpt":"\r Housing rents in Abu Dhabi look set to continue plunging for the first half of 2017 amid continuing economic uncertainty, job losses and cost-cutting measures, property brokers forecast. Chestertons Mena says villa rents in Abu Dhabi fell by 10 per cent during 2016 while apartment rents fell by an\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":44235,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-broker-asteco-expects-abu-dhabi-rents-to-fall\/","url_meta":{"origin":42557,"position":1},"title":"Property broker Asteco expects Abu Dhabi rents to fall","date":"February 15, 2017","format":false,"excerpt":"\r Asteco has become the latest property broker to forecast rent declines in Abu Dhabi this year as 4,000 new homes are expected to come on to the market. According to the property broker's data, average rents for apartments in Abu Dhabi fell by 7 per cent in 2016 and\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":18194,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/industrial-rents-stable-in-abu-dhabi\/","url_meta":{"origin":42557,"position":2},"title":"Industrial rents stable in Abu Dhabi","date":"June 30, 2016","format":false,"excerpt":"\r Industrial rents in Abu Dhabi are expected to hold this year despite the economic slowdown, as new supply plugs a gap in the market.A lack of quality warehouse stock in Abu Dhabi is expected to push prices up towards the end of the year, according to analysts.\"Several landlords have\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":20756,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/average-abu-dhabi-housing-rents-fall-for-first-time-in-three-years\/","url_meta":{"origin":42557,"position":3},"title":"Average Abu Dhabi housing rents fall for first time in three years","date":"July 25, 2016","format":false,"excerpt":"\r Average housing rents in Abu Dhabi have fallen for the first time in three years driven by thousands of job cuts and an increase in the cost of living.The first signs of long expected falls in housing rents in Abu Dhabi started to appear in the three months to\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34618,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-residential-rents-feel-the-pinch\/","url_meta":{"origin":42557,"position":4},"title":"Abu Dhabi residential rents feel the pinch","date":"November 16, 2016","format":false,"excerpt":"\r Office rents in Abu Dhabi have fallen to their lowest point in more than eight years as low global oil prices continue to slow the capital's economy. According to property broker Asteco, average office rents in prime office buildings in the capital slumped by 4 per cent in the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":34638,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-office-rents-dip-in-third-quarter\/","url_meta":{"origin":42557,"position":5},"title":"Abu Dhabi office rents dip in third quarter","date":"November 16, 2016","format":false,"excerpt":"\r Office rents in Abu Dhabi have fallen to their lowest point in more than eight years as low global oil prices continue to slow the capital's economy. According to property broker Asteco, average office rents in prime office buildings in the capital slumped by 4 per cent in the\u2026","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\/42557"}],"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=42557"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/42557\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=42557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=42557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=42557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}