'Rents to drop by at least 7 per cent in 2017 in Muscat'
Rents to drop by at least 7 per cent in 2017
Muscat - Arab today
Residential rents are likely to drop by 7 per cent this year, according to research by Cluttons.
Rents dropped by 10 per cent in 2016 and will continue to fall in 2017 especially in accomodation with low maintenance and amenities for tenants.
The first quarter of 2017 witnessed a stable rate of housing units with a decline of only 0.6 percent for the period of January to March.
Rent for office space is expected to fall by 10-15 per cent due to low demand.
"We believe that the prices of residential units may have bottomed out or are nearly there, especially in some areas," Faisal Durrani, head of research at Cluttons said.
"The combination of economic situation that has led to an expat erosion and the continuous oversupply is the reason for lowering rents. We expect it to remain relatively stable this year but there will be a small drop in rents especially in areas that havent seen steep decline in rents over the past few years," Matthew Wright, Head of Consultancy at Cluttons said.
Source: Timesofoman
- Sunday ,09 December GMT 12:33 2018 Egypt's decision to adjust customs' duties on luxury goods to benefit economy
- Wednesday ,05 December GMT 21:03 2018 Bahrain's economic delegation concludes successful India visit
- Thursday ,29 November GMT 20:20 2018 Japan funds project to enhance water quality project in Palestinian town
- Wednesday ,28 November GMT 09:50 2018 Egypt, Saudi Arabia to strengthen economic ties in coming phase
GMT 19:07 2018 Friday ,14 December
Lebanese PM flags up Saudi investment potential, financial tiesGMT 21:16 2018 Thursday ,13 December
Egypt, Algeria sign MoU to increase trade exchangeGMT 12:33 2018 Sunday ,09 December
Egypt's decision to adjust customs' duties on luxury goods to benefit economyGMT 21:03 2018 Wednesday ,05 December
Bahrain's economic delegation concludes successful India visitGMT 10:58 2018 Sunday ,02 December
Egypt’s total public investments record EGP 72 bln in Q1GMT 14:23 2018 Friday ,30 November
Saudi Arabia pledges $50 million to UNRWAGMT 20:20 2018 Thursday ,29 November
Japan funds project to enhance water quality project in Palestinian townGMT 09:50 2018 Wednesday ,28 November
Egypt, Saudi Arabia to strengthen economic ties in coming phaseRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launc...Read More
GMT 09:47 2019 Monday ,19 August
Live a tense atmosphere in your career
GMT 09:46 2017 Tuesday ,25 April
Nancy Ajram fans give her flower
GMT 09:58 2019 Monday ,19 August
You find yourself facing new professional
GMT 21:27 2017 Saturday ,22 April
Qatar and Russia Back Independent Investigation in Syria's Chemical Attack
GMT 14:43 2017 Tuesday ,08 August
366 Egyptians back home from Libya via Salloum crossing
GMT 21:14 2017 Monday ,29 May
Algerian parliamentarian pledges
GMT 12:11 2018 Friday ,09 November
Conjoined Bhutanese twins separated by surgeons in Australia
GMT 13:02 2018 Tuesday ,30 October
Greenhouse facility for self-sufficient food production opens in Al Ain
GMT 16:34 2017 Sunday ,12 March
Respect for women is an inherent value in UAE society and cultureGMT 10:47 2012 Sunday ,21 October
Target killings last week leave 55 dead in Pakistan\'s Karachi
GMT 23:09 2016 Wednesday ,08 June
Iran goalkeeper banned over 'SpongeBob trousers'GMT 17:29 2011 Saturday ,30 July
Arab regimes\' fears focus on Ramadan
GMT 08:28 2017 Monday ,09 October
Why the 'last of the Bulgarians' are all optimists
GMT 12:47 2016 Saturday ,09 July
Will challenge Corbyn for UK Labour leadership
GMT 08:00 2018 Wednesday ,24 October
Russia fund boss sees no drop in foreign investment to Saudi ArabiaGMT 17:16 2013 Sunday ,17 March
70 years on, Greek survivor recalls \'red sky over Birkenau\'
GMT 17:00 2016 Wednesday ,16 November
'Uphold climate pact', companies urge TrumpGMT 04:57 2011 Monday ,08 August
Venus Williams pulls out of Toronto WTA
GMT 10:50 2017 Wednesday ,14 June
London fire live updates: Blaze engulfs apartment blockGMT 03:13 2012 Sunday ,29 April
Henry suffers injury
GMT 13:40 2016 Monday ,14 November
200 films later, Jackie Chan ‘finally’ wins Oscar
GMT 15:51 2014 Friday ,07 November
twofour54 creative lab launches first comic book
GMT 03:58 2017 Saturday ,08 April
Indian businessman paves way for 10 youths to escape the gallowsGMT 07:24 2011 Monday ,05 September
UN leader downbeat on short-term climate progress
GMT 17:44 2017 Tuesday ,13 June
Embattled Uber CEO Kalanick to take leave of absence
GMT 01:19 2015 Thursday ,26 March
Qatar's emir meets Vice President of IndiaGMT 21:51 2011 Saturday ,14 May
Al-Fayed invested $4 million in diana movie
GMT 11:48 2017 Thursday ,12 October
UK's Davis urges EU leaders to 'take step forward'
GMT 15:56 2018 Sunday ,07 January
From obscurity to superstar status, Coutinho's rise
GMT 08:02 2017 Sunday ,26 November
Iraqi forces liberated 45 villages from grip of ISISGMT 14:58 2012 Friday ,23 November
Financial Times Deutschland folds as losses mount
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor