(ERIK ARAZAS)
For those enduring the commute from Dubai to Abu Dhabi for work in the belief
they are saving on rent here’s a game-changer.
According to Asteco, a UAE-based property consultancy, it costs more to rent a three-bed apartment in Dubai than Abu Dhabi.
In its H1 report on the Abu Dhabi property market Asteco claimed that average rents for three bedroom units in Dubai were four per cent higher than those in the capital.
Rents for three-bed units were at Dh122,000 per annum in Dubai, a 10 per cent increase in the second quarter over the first, while in Abu Dhabi, average rents stood at Dh117,000 pa, registering a three per cent jump q-o-q.
In low-quality buildings in the capital’s Corniche rents ranged between Dh110,000 and Dh130,000 pa, a nine per cent decline q-o-q.
In MBZ/Mussafah rents were Dh60,000 to Dh70,000 pa; Khalifa A & B Dh60,000 to Dh70,000 pa and Central Abu Dhabi Dh80,000 to Dh90,000 pa.
In prime buildings on the Corniche, rents were in the range of Dh160,000 to Dh225,000 pa (6% decline q-o-q), MBZ/Mussafah Dh75,000-Dh85,000 pa (-14%), Khalifa A & B Dh75,000-Dh85,000 pa (-3%) and Central Abu Dhabi Dh125,00-Dh145,000 pa (-2%).
According to Asteco, a UAE-based property consultancy, it costs more to rent a three-bed apartment in Dubai than Abu Dhabi.
In its H1 report on the Abu Dhabi property market Asteco claimed that average rents for three bedroom units in Dubai were four per cent higher than those in the capital.
Rents for three-bed units were at Dh122,000 per annum in Dubai, a 10 per cent increase in the second quarter over the first, while in Abu Dhabi, average rents stood at Dh117,000 pa, registering a three per cent jump q-o-q.
In low-quality buildings in the capital’s Corniche rents ranged between Dh110,000 and Dh130,000 pa, a nine per cent decline q-o-q.
In MBZ/Mussafah rents were Dh60,000 to Dh70,000 pa; Khalifa A & B Dh60,000 to Dh70,000 pa and Central Abu Dhabi Dh80,000 to Dh90,000 pa.
In prime buildings on the Corniche, rents were in the range of Dh160,000 to Dh225,000 pa (6% decline q-o-q), MBZ/Mussafah Dh75,000-Dh85,000 pa (-14%), Khalifa A & B Dh75,000-Dh85,000 pa (-3%) and Central Abu Dhabi Dh125,00-Dh145,000 pa (-2%).
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