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High demand from both homebuyers and tenants resulted in an increase in prices for family-friendly homes in the emirate.
Abu Dhabi has witnessed a steady increase in interest for both affordable and luxury villa communities, based on consumer interest observed on UAE’s leading property portals Bayut and Dubizzle. High demand from both homebuyers and tenants resulted in a corresponding increase in prices for family-friendly homes in the emirate.
The combined data released by Bayut & dubizzle for H1 2021 showed, that sales prices for properties in Abu Dhabi have increased up to 9 percent in the most popular areas.
Prospective investors and buyers interested in luxury apartments have preferred waterfront communities such as Al Reem Island and Al Raha Beach. Customers keen on buying premium villas in the capital have turned towards Saadiyat Island and Yas Island.
Buyers looking for more affordable apartments have showed interest in freehold suburbs, such as Masdar City, Al Reef and Al Ghadeer. As for more affordable villas, Al Reef, Shakhbout City and Hydra Village have been the popular options.
In the rental market, apartments in Abu Dhabi have experienced minor price declines of up to 7 percent in the first half of 2021. On the other hand, villa properties have seen an uptick in rental prices between 2 and 18 percent.
Tenants in search of affordable apartments have preferred Suburban communities and older neighbourhoods such as Khalifa City A and Al Khalidiyah, while Mohammed Bin Zayed City has remained the best choice for those looking to rent reasonably priced family-friendly villas.
Al Reem Island and Al Raha Beach have appealed to tenants in search of luxury apartments in Abu Dhabi. Al Bateen and Yas Island have attracted tenants interested in renting luxury villas in H1 2021.
According to the data released by the Department of Municipality and Transport, Abu Dhabi has recorded real estate transactions worth USD 3.1 billion in Q1 2021 alone, with the value of mortgages exceeding USD 1.7 billion.
Abu Dhabi-based developer Aldar Properties also reported the rapid sell-out of the newly-launched Noya villas on Yas Island, highlighting the growing appetite for high-quality, family-oriented homes in the emirate.
