Apartment and villa rental rates in Abu Dhabi have declined on average by 3% and 2% over the past three months, while recording annual decreases of 11% and 9% respectively, according to a new report.

Asteco's UAE Real Estate Report Q1 2018 also said that apartment sales prices in the UAE capital remained broadly unchanged over the quarter, except for Marina Square (-5%), Al Reef Downtown (-6%) and Sun & Sky Towers (-6%).

The report also showed that villa sales prices were stagnant throughout the first quarter, with a slight decrease in Al Reef (-2%). Annually, the highest decline in sales prices was recorded in Hydra Village (-8%), followed by Al Reef villas (-5%) and Raha Gardens (-4%).

Asteco said approximately 1,600 residential units were delivered in Q1, with over 75% located within the city’s investment zones including Yas Island, Al Reem Island and Al Raha Beach.

More than 7,300 residential units and 100,000 square metres of office space are earmarked for completion before end-2018 although previous delivery patterns suggest a number of these are likely to be delayed, spilling over to 2019, it added.