high rental yields available to investors buying property in abu dhabi
News Posted On: 14 April 2009
Buying property in Abu Dhabi remains an attractive proposition to investors despite the downturn in the Gulf economy, according to a new report.
Over the past few years, the United Arab Emirates (UAE) has been a favourite location for investors buying property abroad, with soaring capital values ensuring healthy returns.
However, the area has now been hit by the global economic slowdown and property prices have fallen substantially in some parts of UAE, notably Dubai.
A study by property management firm Asteco suggested the real estate sector in Abu Dhbai has been much less badly affected.
It found that although property values and rents have fallen in the emirate, rental yields remain healthy, with 12 per cent achievable in many developments.
Andrew Chambers, Asteco's managing director, told Emirates Business 24/7 investors find it difficult to match that in many markets and that interest in Abu Dhabi remains strong among those looking to buy properties abroad.
"Since rents remain fairly strong we are seeing not just individuals but also a number of institutional funds looking to invest in income-generating properties in Abu Dhabi," he added.
Written by Les Calvert
Property Abroad - buying property abroad made easy.
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