{"id":43837,"date":"2017-02-12T22:46:18","date_gmt":"2017-02-12T15:46:18","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=43837"},"modified":"2017-02-12T19:53:08","modified_gmt":"2017-02-12T12:53:08","slug":"abu-dhabis-residential-rents-to-continue-to-decline-in-2017","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabis-residential-rents-to-continue-to-decline-in-2017\/","title":{"rendered":"Abu Dhabi's residential rents to continue to decline in 2017"},"content":{"rendered":"


\nHousing 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 average of 7 per cent. During the final three months of 2016, the broker said that apartment rents fell 1 per cent compared with the previous quarter while villa rents were down by an average of 2 per cent.According to Chestertons, rents fell in all of the freehold areas in Abu Dhabi during the final three months of 2016 apart from Aldar’s low-cost Al Ghadeer development on the border with Dubai.Apartment rents in Al Reef Downtown were subject to the biggest falls, slipping by an average of 3 per cent between the end of September and December 2016 and by 11 per cent during the year. Apartment rents in Al Raha Beach and Reem Island fell by an average of 8 per cent during the year.Villa rents in Al Reef, Al Raha Gardens and Saadiyat Island all fell significantly during 2016, dipping by between 10 per cent and 12 per cent on average. Sales prices were also hit by the oil price downturn and job losses across the city. According to Chestertons, prices for villas in the capital dropped by an average of 6 per cent during 2016 while apartment prices fell by 3 per cent. During the final three months of 2016, Chestertons calculated that apartment prices fell by 1 per cent and villa prices were down 2 per cent.”We expect the pressure on rents to remain throughout the first quarter of 2017 with the continuous cost-cutting measures and job instability in the current market,” said Robin Teh, Chestertons’ country manager. “Redundancies and the shrinkage of the oil and gas sector continue to place pressure on the demand in the market. Tenants are seeking lower rental rates as housing allowances have been reduced.” Last month, rival broker Core Savills predicted that house prices and rents would continue to decline at similar levels to last year.It calculated that values for prime and mid-prime villas fell by 15 per cent during 2016, while apartment values were down 7 per cent. 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.__________________________________Rents<div class=”embedObjects”><img src=”http:\/\/www.thenational.ae\/assets\/otherimages\/bz00-rents.jpg” alt=”rents” width=”475″ height=”323″>Lee Hoagland \/ The National<\/div>\u25a0 Rents and house prices continue downward trend in Abu Dhabi\u25a0 Your money blog: How to negotiate a rent decrease in Abu Dhabi\u25a0 Abu Dhabi introduces three per cent municipality charge on households\u25a0 New supply to lower Dubai suburban rents in 2017\u25a0 Five tips on how to downsize to a smaller home in the UAE\u25a0 In pictures: Where Dubai rents have risen and fallen, Q3 2016\u25a0 In pictures: Where Abu Dhabi rents have risen and fallen, Q3 2016__________________________________lbarnard@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Abu Dhabi’s residential rents to continue to decline in 2017<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Housing rents in Abu Dhabi look set to continue plunging for the first half of...<\/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-43837","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-bp3","jetpack-related-posts":[{"id":44235,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/property-broker-asteco-expects-abu-dhabi-rents-to-fall\/","url_meta":{"origin":43837,"position":0},"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":44071,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-residential-rents-forecast-to-fall-further-in-q1\/","url_meta":{"origin":43837,"position":1},"title":"Abu Dhabi residential rents forecast to fall further in Q1","date":"February 13, 2017","format":false,"excerpt":"\r Chestertons says average apartment rents fell by 7% in 2016, while villa rents dropped by 10%\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi residential rents forecast to fall further in Q1","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":22875,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-rents-and-house-prices-set-for-further-falls-but-yields-still-strong-for-investors\/","url_meta":{"origin":43837,"position":2},"title":"Abu Dhabi rents and house prices set for further falls but yields still strong for investors","date":"August 15, 2016","format":false,"excerpt":"\r The prices of homes in the capital are expected to drop further this year, after values dipped by 1 per cent in the second quarter.Rents fell by about 2 per cent in the same period, according to property broker Chestertons.The company said an average two-bedroom apartment in Al Reef\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37112,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/high-end-villas-lead-fall-in-rents-across-abu-dhabi-says-cluttons\/","url_meta":{"origin":43837,"position":3},"title":"High-end villas lead fall in rents across Abu Dhabi, says Cluttons","date":"December 5, 2016","format":false,"excerpt":"\r Rents have fallen by 9.4 per cent across Abu Dhabi's residential investment areas since the start of the year according to new research. The decline outpaced a fall of about 5.2 per cent in the value of homes over the same period, according to a report from Cluttons. It\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":43837,"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":43837,"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\/43837"}],"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=43837"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43837\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=43837"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=43837"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=43837"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}