Real estate experts denied there was a shortage of apartments for rent in the city, following warnings to foreigners by leading real estate corporation CB Richard Ellis (CBRE) that the city was suffering a huge shortage of top-grade apartments.
Specialists recommend those looking to rent apartments should be aware that the rental apartment market was currently sluggish and customers also had to be wary of some real estate agents that were involved in speculative activities. Real estate companies involved in these activities were open to risks, such as the threat of having their mortgaged assets claimed by banks during financial difficulties.