Abu Dhabi residents chase lower rental locations

Dubai: Abu Dhabi’s residents concerned about affordability are heading out to Mohammad Bin Zayed City in a search for lower rents. Some are also starting to get help from their landlords by way of multiple cheques.

But, on the whole, average rentals in Abu Dhabi have remained steadfastly high during the first quarter, according to the latest update from CBRE, the consultancy. If at all there has been some softening, these are limited to the higher end residential apartments. Even then leases in Corniche and Khalidiya for upscale one- and two-bedroom units are a whopping Dh120,000 and Dh180,000 respectively.

Abu Dhabi’s residential rental space remains in the grip of demand and supply imbalances.

Fewer supply of mid-tier rental properties means that those that are already there carry a higher rental demand. And the majority of these are already occupied.