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.