Abu Dhabi Rents up by 50%

Rents in Abu Dhabi will increase by as much as 50 percent, according to a report in The National.
Some tenants in the city have received notices posted at their building’s entrance from landlords outlining rent increases of anywhere between 10 and 50 percent. The rents, according to the notices, are being increased to a uniform value.
The most recent Asteco report said average apartment rental rates ran in parallel with villas, recording modest Q2 growth rates of up to eight percent.
The report also noted that Abu Dhabi plans to launch its own rental index this year, which is designed to create a more transparent market for UAE national investors and regulating maximum rental increases.
www.arabianbusiness.com

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