Dubai Business | Kippreport » Apartment rents in Dubai 20 percent ...
Apartment rents in Abu Dhabi decreased marginally in the last three months of 2009, but are still up to 20 percent higher than the rents in Dubai, according to a report released by property services firm, Asteco.
“Given the slight increase in vacancy levels and the additional supply of residential property in Abu Dhabi, the rental market has shown signs of softening, striking more of a balance between the negotiating power of tenants and landlords,” Elaine Jones, CEO of Asteco said in a release.
However, the report says that a number of people working in Abu Dhabi are continuing to live in Dubai or are moving out there. “This trend is not expected to change in the short term without the perceived value for money versus location issue being addressed,” Jones said.
I totally agree with HAitham, I have been offered a job in A/Dhabi and the employer absolutely refuses to talk about the rent-allowance, leaving me no choice but to stick to Dubai. I have been checking and the general rents in A/Dhabi (with a +/- 30% variation due to areas…) are Studio ~80k, 1BHK~125k, 2BHK~160 …. go to forums online (like http://britishexpats.com/forum/ ) and you’ll discover there are some guys living in serviced Apts. (~80k p.a.) as it works almost the same as a studio flat in an upmarket A/Dhabi locality. I know the primary reason for this situation is demand-supply, but suspect there is definately a case of authorities not addressing the tenats side in the landlord-tenants equation. Well, till then, I am unhappily driving 3 hrs a day, 5 days a week and burning 1000 aed a month extra on fuel and add to it the drive on one of the most notorious highways (google for statistics…) Dubai-Abu Dhabi and associated life-risk.