demand

UAE: Abu Dhabi residential rents down on weak demand

The Abu Dhabi property market showed signs of fragmentation in the third quarter as average residential rental prices saw a slight quarterly decline with demand levels having weakened, said a report.

The average residential market rentals saw a marginal decline of around one per cent quarter on quarter, whilst maintaining around two to three per cent growth over the past quarters, stated global real estate consultancy firm CBRE in its Q3 2015 Abu Dhabi MarketView.

The emirate's residential market, however, enjoyed an annual growth rate of close to eight per cent during the period, it added.