The Bayut and Dubizzle report on the Abu Dhabi real estate market for the first half of 2021 stated that there is a steady increase in the interest of investors and tenants in Abu Dhabi in villa complexes, whether luxurious or at an appropriate cost, which directly led to the recording of varying increases in the prices of selling and renting villas. .
According to the data compiled by Bayut and Dubizzle for the first half of 2021, properties for sale in Abu Dhabi witnessed an overall increase in prices, reaching 9% in most known neighborhoods.
More investors and potential buyers interested in luxury apartments are turning to complexes with sea views such as Al Reem Island and Al Raha Beach. Saadiyat Island and Yas Island have also continued to attract more interest from those looking to buy luxury villas in the capital.
Investors preferred to search for apartments at reasonable prices in freehold areas far from the city center, such as Masdar City, Al Reef and Al Ghadeer Apartments. As for those looking for villas, their search focused on the rural areas, Shakhbout City and Hydra Village.
In terms of the rental sector, apartment rents in Abu Dhabi witnessed a slight decrease in prices, reaching 7% during the first half of 2021, while villa rents witnessed an increase between 2% and 18%.
Areas away from the city center and old neighborhoods such as Khalifa City A and Al Khalidiya dominated the interest of renters looking for affordable apartments, while Mohammed Bin Zayed City remained a favorite among those looking to rent family-friendly villas at affordable prices.
Al Reem Island and Al Raha Beach attracted the attention of renters looking for luxury apartments in Abu Dhabi, while Al Bateen and Yas Island received the most attention for luxury villas for rent during the first half of 2021.
Haider Ali Khan, CEO of Bayut and Dubizzle, and President of Emerging Markets Property Group in the Middle East and North Africa, said: “Over the past year, Abu Dhabi has sent a strong message to the global community through the strategies it has followed to confront the repercussions of the spread of the Corona virus and limit its effects. The negative impact on public health, which contributed to consolidating its position as a safe destination for living and stability, and thus enhancing the demand for the residential real estate market, especially villas that attract families and families, whether to buy or rent.”
He added: “On the other hand, the proactive measures taken by the Abu Dhabi government to prevent the global epidemic, along with large-scale vaccination campaigns, have enhanced the attractiveness of the capital’s real estate market to investors and buyers. In addition, the sustainable projects that have been developed, especially those with sea views, have proven Which is characterized by its reasonable prices and distinctive investment returns provided by its ability to increase the demand for real estate in Abu Dhabi.”
According to data issued by the Department of Municipalities and Transport, the real estate sector in Abu Dhabi recorded deals worth 11.5 billion dirhams during the first quarter of 2021 only, while the value of mortgages exceeded 6.5 billion dirhams.
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