The best areas in Abu Dhabi to buy real estate?

The best areas in Abu Dhabi to buy real estate?

The capital of the UAE is the largest city in the country. Only Dubai can compete with Abu Dhabi in terms of demand among tourists and investors from other countries. Real estate in Abu Dhabi is in high demand. It is purchased not only for permanent residence and seasonal vacations but also to make a profit. Let us figure out where the best place to buy real estate in Abu Dhabi is depending on your goals.

CONTENT:

IS IT WORTH BUYING PROPERTY IN ABU DHABI FOR INVESTMENT?

The real estate market is actively developing. After a slight decline in demand due to the pandemic, there has been a gradual increase in prices since the end of 2020. According to analysts, this increase will continue in 2022, so there is no point in delaying any investment decisions. There are several reasons why this is advisable:

  • Increased demand. Most of the population is made up of foreigners employed in the service sector or who are doing business. The number of jobs is also increasing in the actively developing oil industry, increasing the demand for housing.
  • Affordable prices. If you compare the cost of apartments in Abu Dhabi or Dubai with housing in major cities in Europe or the United States, it is evident that apartments of a much smaller area in London or New York are the same amount as larger ones in Abu Dhabi.
  • Favorable taxation system. There are no taxes on either owning or selling property in the United Arab Emirates. You can lease square meters of space legally and not lose profit.
  • Wide choice. For foreigners, there are two options to own real estate - you can either buy an apartment or have a long-term lease, the duration of which can reach 99 years.
  • Easy transaction. The authorities seek to attract third-party investors and even allow remote transactions. In addition, favorable payment terms are provided. You can make cash payments as well as credit funds at low mortgage rates. Several facilities allow deferred payments.

WHERE IS THE BEST PLACE TO BUY AN APARTMENT IN ABU DHABI?

There are 57 districts in the capital. In addition to the central district, there is a coastline with many islands where housing is also actively being built. The city has well-groomed beaches which attract tourists and it has a comfortable climate with most of the days of the year being sunny. There is no winter in that sense, making living in the city pleasant. Abu Dhabi is often compared to Dubai but it would not be entirely correct to consider them competitors as each Emirate has its own characteristics. If the pace of life in Dubai is quite intense, then the capital of the UAE is famous for its serenity. Many green spaces and parklands break its stereotype as a desert. Another feature is the small number of buildings in the central areas. Skyscrapers erected at the end of the 20th century occupy the main part of the city. Villas and townhouses in most cases are built on the island which has the advantages of privacy and proximity to the sea.

What area of Abu Dhabi is the best to buy real estate?

WHICH AREA OF ABU DHABI IS BEST TO BUY AN APARTMENT?

There is no universal answer to this question. Below are the regions that are in high demand among Russians. However, there are many more options:

  • Downtown. This is a central area with luxury housing and developed infrastructure. There are many business facilities in the community and no fewer tourist hotels. The area is chosen by those who prefer an active lifestyle. The cost of housing is quite high here.
  • Madinat Zayed is a perfect balance between the center and the suburbs. The area cannot boast ultra-modern buildings but it has everything you need to live comfortably. In addition to shopping centers and shops, there are a large number of markets where you can buy fresh food.
  • Al Raha is the choice for those who put the sea first among their reasons to move. This is a mainland famous for its many beaches. The city center is less than half an hour's drive away and the airport is only 10 minutes away. A distinctive feature of the community is that you can find both budget and luxury housing in the area.
  • Khalifa City A and B. The districts are located far from the business center which makes life calm and measured. Private villas coexist with residential complexes so it is not difficult to find accommodation for any budget. District A is completely ready for living - there are schools, kindergartens, and other social facilities. Development continues in area B.
  • Mohammed Bin Zayed City is in demand among families with children and retirees. With developed infrastructure, it is calm enough for a measured life.

Before deciding to move, it is advisable to familiarize yourself with the infrastructure so the decision will be easier to make.

WHERE IS THE BEST PLACE FOR RUSSIANS TO LIVE IN ABU DHABI?

In addition to the mainland, the islands are confidently leading in sales. The most popular among them are Al Reem, Saadiyat, and Yas. You can find both comfortable apartments and separately located villas in each of them. Since 2019, foreign citizens can acquire ownership not only of real estate but also of the land on which it is located if it belongs to a free zone. There are many choices - you just need to decide on your priorities and budget accordingly since the cost of housing in individual communities of the city differs significantly.

WHERE TO BUY AN APARTMENT IN ABU DHABI TO RENT IT OUT?

You can consider several of the most profitable sub-communities as an investment:

  • Al Ghadeer. The annual profitability can be as high as 8%. The cost of living in a rented apartment varies from 22,000 to 45,000 dirhams per month.
  • Al Reef with 7.5% ROI. The cost of renting one-bedroom apartments on average reaches 50,000 dirhams. Villas are more expensive and reach prices of 100,000 dirhams or more.
  • Al Reem. Real estate on the island has a payback index of 6.8% per annum. Renting a 1-room apartment can cost 50,000 dirhams. Family apartments with 4 bedrooms will cost about 250,000 dirhams.
  • Al Raha Beach and YAS Island. The yield is about 6%. A studio apartment can go from 65,000 dirhams. Tenants pay about 190,000 dirhams a month for 3 bedrooms.

Analysts point out that market trends are currently optimal for investments. A slight but stable rise in prices is forecasted.

WHERE IS IT BEST FOR A PENSIONER TO BUY AN APARTMENT IN ABU DHABI?

If a pensioner does not plan to work actively then it is worth planning according to their preferences. It should be noted that in the UAE, pensioners can only run their own businesses since it is forbidden to hold public positions upon reaching retirement age. Not all retirees prefer a measured way of life as some enjoy activities like participation in cultural events. The capital has an intense rhythm in the central communities and a quieter one in the suburbs.

WHERE TO BUY AN APARTMENT IN ABU DHABI BY THE SEA?

First of all, these are the islands mentioned above. In Al Reem, you can buy apartments in a residential complex for only 900,000 dirhams. This price applies to housing with 1 bedroom that is not yet commissioned. On the island of Saadiyat, you can buy a 2-bedroom apartment for 2,800,000 dirhams. Villas with 3 bedrooms on the island of Yas will cost 3,500,000 dirhams.

It should be understood that the prices are averages and are based on the analysis of the available supply. The UAE real estate market is in demand and there are tendencies towards increases in prices. Therefore, the longer the decision is postponed, the higher the likelihood of seeing different numbers in the ads. However, in general, there are no difficulties when choosing to buy property by the sea in Abu Dhabi; dozens of kilometers of beaches are waiting for visitors.

What area of Abu Dhabi is the best to buy real estate?

BUYING AN APARTMENT IN ABU DHABI: NUANCES

What you need to consider when choosing a house:

  • For obvious reasons, there are no budget options at all in the capital of the state. If you want to save money, you should pay attention to other regions including Dubai.
  • It is economically more profitable to purchase apartments than villas especially if the purchase is an investment.
  • Keep in mind that a registration fee when purchasing a house is 4% of the total transaction amount which you are liable to pay.
  • Despite developed infrastructure, there are difficulties with public transport in the city. If you plan to actively move for work, this point should be taken into account. There are no difficulties with taxis or car rentals, however.
  • For those who follow an Orthodox religion, bear in mind that choosing an apartment near a mosque can be noisy since the call of Muslims to prayer is done through a loudspeaker.

You do not need a visa when purchasing real estate. Due to the pandemic, the authorities have provided the possibility of remote deals. It is also important to know that buying real estate has nothing to do with obtaining citizenship. If the value of the property exceeds AED 1,000,000, the owner receives a residence permit. An appropriate visa is required to conduct work activities. Therefore, the qualified assistance of lawyers who are familiar with local legislation will be helpful during the decision-making stage.

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