Abu Dhabi’s property market has shown positive signs in the past three months according to two new market reports for Q3.
As reported in sister publication Construction Week, Bayut and dubizzle have highlighted positive trends in the capital’s property market.
Rent prices have remained largely stable in some of the city’s most popular residential neighbourhoods and in many prominent areas have declined by 5 percent.
Areas including Mohammed Bin Zayed City, Khalidiyah and Murror have proved popular for potential tenants.
For apartments, Reem Island has been the leading destination where there have been minor declines in rent by 2.5 percent for two-bedroom apartments while one-bedroom apartments have remained at a stable cost.
Elsewhere, rental costs have reduced between 1.5 percent and 7.5 percent in areas including Al Zahiyah, Khalifa City, Mussafah and Al Raha Beach.
Rent prices downtown and at the Corniche have remained stable.
For villas, popular areas have included Muroor, Al Reef, Al Bateen, Karamah, Shakhbout City and Yas Island.
“Over the past three months, the Abu Dhabi real estate market has shown promising signs of recovery,” said Haider Ali Khan, CEO of Bayut and dubizzle.
“The overall market conditions have also become more stable in the past three months, and businesses across the board are returning to normal operations.
“The footfall in malls, restaurants, and recreational facilities have increased in the last few months. This has definitely had a direct impact on interest in the capital city’s real estate market. In fact, Aldar recently revealed that they have achieved around $270bn in off-plan sales alone.
“These are certainly impressive figures, and they also echo the trends we have observed on Bayut and dubizzle. In the last three months alone, we received a combined total of approximately 4.5 million sessions for listings in the capital alone, showing that there is a healthy demand for real estate in Abu Dhabi.”
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