(MENAFN) Abu Dhabi's rental rates increased by 6 percent in the second quarter of the year, marking an upsurge from the first quarter, according to a market report issued by Asteco, Gulf News reported.
Most quality developments witnessed an upsurge between 4 and 6 percent after the renewal of contracts. As for recent leases, the increase amounted to 8 percent more than the first quarter.
"The market is now much more regulated, and there are more instruments in place preventing the creation of another bubble, so that's why we don't really see any steep growth in the future," an official expecting mild growth for the market said.
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