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18-02-14

Rents in Abu Dhabi up 9 percent in Q4

(MENAFN) Real estate consultancy CBRE said that Abu Dhabi rental values increased nine percent in the last quarter of 2013, Arabian Business reported. CBRE added that annual rises came at an average of 16 percent in Abu Dhabi during the year. One bedroom units registered the highest rent increase with 11 percent in the fourth quarter of last year. Head of research & consultancy UAE, CBRE Middle East said: "The recent move comes at a time when housing demand was already on the rise, following the earlier Government intervention to change the conditions under which state run companies paid housing benefits to their employees."