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26-04-14

Prime residential prices in Abu Dhabi up 9 percent

(MENAFN) A new report by Jones Lang LaSalle shows that prime residential prices in Abu Dhabi surged 9 percent during the first quarter as the market continued to grow, Arabian Business reported. The reported said that positive investor sentiment and the growing demand from end users were pushing growth. This increase marks the fifth consecutive quarter of price rises, although the volume of transactions remained limited during the quarter. The report said that demand in the residential rental market continued to rise, "driven by new job creation and government policies", leading to a 4 percent growth in high quality units during the first quarter.