It’s no surprise that property prices and rents are rising. Data just out from propertyfinder.ae’s quarter two report, reveals the average prices of apartments and villas across key residential communities in Abu Dhabi.
While studio prices in the emirate stand at Dhs689,000, a one bedroom in the city costs Dhs1.3m and a two bedroom apartment, Dhs2m.
“We’ve released this data based on for-sale homes and rentals listed on our site. Topping the list of places for buying property in Abu Dhabi is Al Reem Island, followed by Al Reef and Al Raha Beach. Al Ghadeer enters the top 10 this quarter; its appeal seems to be rising as it did not make the list in Q2 2013 and 2012,” said Michael Lahyani, CEO and Founder of propertyfinder.ae, the UAE’s leading property site.
For those looking to buy property in Al Reem Island, here are some useful figures. The average price of an apartment is Dhs1.9m with the price per sq. ft. stands at Dhs1,483. Not just buying; according to propertyfinder.ae’s latest report, Al Reem Island was also the most searched community on the site for renting property in quarter 2.
“Al Reem Island steals the spotlight from Khalifa City this quarter to become Abu Dhabi’s most searched rental community. Mohammed Bin Zayed City’s appeal seems to be rising. From not making the top 10 in Q2 2013 and Q2 2012, the community is now at 6th place,” added Lahyani.
Abu Dhabi renters can expect to pay, on an average, Dhs65,000 for a studio, Dhs92,000 for a one bedroom pad and Dhs139,000 for a two bedroom apartment today. And what about Al Reem Island? Rents have risen; equating to an average of Dhs122,000 for an apartment and Dhs275,000 for a villa. Khalifa City, placing 2nd in the list of Abu Dhabi’s most searched rental communities on propertyfinder.ae, offers on an average, apartments for Dhs102,000 and villas for Dhs243,000.
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Wednesday, July 30- 2014 @ 10:27 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.