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In the latter half of the year sales prices for residential properties have showed increases of up to 4 percent.
Following the ease of travel restrictions in Abu Dhabi, the capital’s real estate market has been on a steady upward trajectory in the latter half of the year with sales prices for residential properties showing increases of up to 4 percent.
In Q3 2021 potential investors interested in affordable apartments opted for freehold suburban areas like Al Reef and Al Ghadeer. Investors searching for upscale properties preferred apartments in waterfront communities such as Al Reem Island, Al Raha Beach and Yas Island.
Al Reef turned out to be the most sought-after area with investors keen on buying affordable villas in Abu Dhabi in Q3 2021. Those looking for upscale villas were most interested in Saadiyat Island, which could be attributed to the growing demand for waterfront houses in the emirate.
The average price-per-square-foot for villas in Saadiyat Island decreased marginally by 1 percent, from USD 380 in Q2 2021 to USD 376 in Q3 2021.
Houses in Yas Island saw a minor increase of under 1 percent in sales price-per-square-foot, averaging at USD 302 in Q3 2021.
Al Raha Gardens also showed a moderate decrease of 2.8 percent in price-per-square-foot for villas. Prices reduced from USD 226 in Q2 2021 to USD 220 in Q3 2021.
In the freehold suburb of Al Reef, popular among affordable villas buyers, the average sales price-per-square-foot showed an increase of 2 percent, rising from USD 182 in Q2 2021 to USD 186 in Q3 2021. These figures reflect growing popularity and demand for reasonably-priced villa communities.
Districts like Hydra Village, Khalifa City A and Shakhbout City (Khalifa City B) were also popular choices for investors interested in reasonably-priced villas in Abu Dhabi.
As for luxury apartment sales, potential investors were largely inclined towards island communities, with Al Reem Island topping the list.
Prices for apartments in Al Reem Island decreased marginally by less than 1 percent with the price-per-square-foot averaging at USD 272.
Al Raha Beach, Yas Island and Saadiyat Island also attracted the interest of high-net-worth buyers. Sales price-per-square-foot in them appreciated by up to 2 percent.
Prospective investors showed an inclination towards family-friendly suburbs when buying affordable apartments in Abu Dhabi.
Al Reef continued to appeal to investors on a smaller budget in Q3 2021. The prices in the community remained fairly stable, averaging at USD 138 per square foot for apartments.
Apartments in Al Ghadeer also retained their popularity, with prices growing by under 2 percent to reach USD 199 per square foot in the third quarter of 2021.
Masdar City ranked third in the list of the most popular areas to buy affordable apartments in Abu Dhabi. The average price for apartments there was USD 322 per square foot, declining slightly by under 1 percent.
As for off-plan apartments in Abu Dhabi in Q3 2021, Diva was the most popular project for affordable units, whereas Water’s Edge attracted buyers interested in the luxury segment. Both projects are located in Yas Island.
For off-plan villa projects in Abu Dhabi, the competitively-priced houses in Noya appealed most to the buyers while Yas Acres captured the attention of investors searching for upscale houses in the capital.
