Property prices have fallen in Abu Dhabi by an average of 15% in recent months, but a lack of finance is stalling the market, according to industry experts.

Prices in the secondary property market have softened after peaking last summer, with big falls occurring at Al Raha Beach and Al Reem Island, according to LLJ Property, a property broker based in the capital.

The prices of apartments at both developments, which reached an average of Dh1,900 per square foot in September, are now worth about Dh1,600.

The National