A senior Abu Dhabi official said that Abu Dhabi’s property market is over-supplied and the government may take steps to address the imbalance. Prices in the UAE capital’s residential sector were flat last year, after rising about 25 per cent a year in 2013 and 2014. First-quarter residential prices were little changed and property consultants CBRE last month described buying appetite and overall sentiment as weak. Ali Majid Al Mansouri, chairman of Abu Dhabi’s economic department said that they are studying this imbalance and if there is a big difference between supply and demand the authorities will take action without providing any details. (The National)