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Abu Dhabi property prices to drop further this year

The National
Abu Dhabi property prices to drop further this year - Abu Dhabi - property prices


Property prices in Abu Dhabi are set to fall further as 11,000 apartments and villas are completed before the end of the year.



In its latest quarterly report on the housing market, Jones Lang Lasalle (JLL), a global property broker, said Abu Dhabi's real estate sector is becoming increasingly competitive, having seen "unsustainable" prices in the last five years.

"Rents are expected to decrease further in line with future additions to supply," said the report. "Significant increases in supply across all sectors during a time of relatively weak demand and tight economic conditions are causing rents to correct from the unsustainable highs of the boom years."


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