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Alkesh Sharma / Emirates Business
Unaffected by the recurrent economy fluctuations, residential sales market remained largely muted during the first quarter of 2016 in Abu Dhabi. Realtors in the Emirates capital experienced weak appetite for property purchases that was in tandem with overall market sentiment in the region.
These startling findings have been revealed by CBRC Group in its recent report that was released as Cityscape Abu Dhabi kicks off on Tuesday.
Titled Q1 2016 Abu Dhabi MarketView, the report indicated that affordable residences continue to generate solid demand and modest rental growth, in some cases up to 2%.
Residential accommodation within central locations remained the most popular option for smaller household sizes and single occupants, primarily due to the ease of access to transportation networks,†said Mat Green, Head of Research and Consulting UAE, CBRE Middle East.