The Abu Dhabi real estate market remains stable, despite a slowdown in government spending, according to property services firm JLL's latest report. The general trend for Q3 and the preceding two quarters of this year has been "stability", the report says. David Dudley, International Director at JLL, says government spending largely declined due to the fall in oil prices. He tells ARN when the slow down is expected to ease.
Listen
Residential prices rose 25% in both 2013 and 2014 before flattening off, JLL says. Meanwhile, rents for apartments rose 7%, while houses went up by 3% over the last 12 months. Sales prices have remained steady over the same period. Dudley adds that demand for property continues to grow but at a slower pace, while supply is well under control as developers remain cautious.
Debris from interception hits Dubai building, no injuries
UAE orders arrest of 10 for publishing misleading online content
Abu Dhabi Police arrest 45 for filming incident sites, sharing rumours
UAE Cyber Security Council warns against 'Wiper' malware
Dubai Police crack down on noisy cars, illegal modifications
UAE President, Ethiopian PM discuss boosting economic, development ties
UAE air forces respond to more missile threats on Friday
UAE air defences intercept 7 ballistic missiles and 27 drones on Friday
