Abu Dhabi property price rise stalls amid oil rout
Dubai
PROPERTY prices in Abu Dhabi were flat in the fourth quarter of 2014 due to a fall in oil prices and equities markets and weaker investor sentiment, consultants JLL said in a report on Monday. Like nearby Dubai, Abu Dhabi suffered a property crash, with house prices falling about 55 per cent from a peak in the second quarter of 2008 to the market bottom in fourth quarter of 2012.
JLL estimates Abu Dhabi's residential prices rose 25 per cent per year for the two years to Sept 30, 2013, providing a compound increase of 56 per cent. But prices flattened out in the final three months of 2014, the first period in which they did not increase since the first quarter of 2013.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%