Abu Dhabi property values 'will remain high'

Property in Abu Dhabi is set to buck the trend of slowing growth in the UAE market by rising in the short-term, a new report has concluded.

According to the Citigroup research, values in the emirate will remain high, partly because Abu Dhabi's amassed wealth means finance for current development projects will not run out.

The report stated that the area is expected to experience even more growth in the future, noting that "even with steep rent increases, the average prime rates are competitive on a global playing field".

"Abu Dhabi rent levels lag significantly behind London and Hong Kong, and are still some 40 per cent behind Singapore, Tokyo and Moscow," the publication added.

The news may be of interest to property investors looking to make purchases in the UAE, as it may convince them to invest in Abu Dhabi rather than other emirates.

Chief executive of Dubai-based Sweet Homes Group Fahad Sattar recently told Property Wire that the failure of Dubai's financial system has contributed to falling property prices in the emirate.

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