ABU DHABI: Rents in the capital have fallen sharply as a tide of residents opt instead for Dubai’s lower prices and newer buildings.

Apartment rentals in Abu Dhabi fell by up to 35 per cent between March and June.
The price reductions were further fuelled by redundancies and tenants relocating out of the city centre, according to a report published yesterday by Asteco, a property services firm.

It follows decreases in rental values of up to 20 per cent in the first three months of the year.
While areas including Khalidiya and the Corniche have retained their value, neighbourhoods such as Salam Street, the site of a huge redevelopment, have seen rents plummet.
Poorly maintained flats with window-mounted air-conditioning units have been the hardest to let.
As well as finally accepting that they cannot hold rents artificially high, landlords are increasingly willing to accept payment in two cheques as opposed to one, estate agents reported.

Abu Dhabi rents fall to compete with Dubai - The National Newspaper