Saadiyat Island was the only community to experience a drop in sale prices since Q4 2013, which reached up to 16%
Two and three bedroom properties in Khalifa City A and Al Al Reem Island were the most sought after on dubizzle, with more than 3 million searches combined
Abu Dhabi, UAE. February 5, 2015. dubizzle, the leading classifieds website for users in the Middle East and North Africa, has compiled its 2014 Q4 property report for the UAE's Capital. The report showcases a rise in the average annual rent prices across Abu Dhabi's Modern Hub, outskirts and central communities since Q4 of last year. The shift can be seen across one, two and three bedroom properties in these areas. Starting with the Modern Hub, two bedroom properties in Al Reem Island and Saadyiat Island witnessed an increase of 14% and 8% respectively. Prices of three bedroom properties in central communities such as Tourist Club and Khalidiya increased by 43%. This was also the case in the outskirts of Abu Dhabi, where rental prices of similar-sized units in Mohammed Bin Zayed City rose by 12% since Q4 2013.
Despite this fluctuation in property prices around Abu Dhabi, there are still more affordable properties in the market. dubizzle's study indicated that the following were the most affordable rental and for-sale properties in Abu Dhabi.
Most affordable rental properties in Abu Dhabi
(Median prices in Q4 2014)
Studios:
- Mohammed Bin Zayed City: 400 sqft, AED 28K
- Khalifah City A: 450 sqft, AED 32K
- Al Khalidiyah: 447 sqft, AED 40K
1 bedroom apartment:
- Mohammed Bin Zayed City: 800sqft, AED 45.5K
- Khalifah City A: 600 sqft, AED 50K
- Al Mushrif: 450 sqft, AED 53K
2 bedroom apartment:
- Mussafah Residential Area: 740 sqft, AED 70K
- Khalifa City A: 1200 sqft, AED 75K
- Al Moroor: 1100sqft, AED 85K
3 bedroom apartment:
- Mussafah East: 1400 sqft, AED 95K
- Khalifah City A: 1500 sqft, AED 105K
- Tourist Club Area: 1600 sqft, AED 110K
Most affordable for-sale properties in Abu Dhabi
(Median Prices in Q4 2014)
Studios:
- Al Reef: 495 sqft, AED 625K
- Al Reem Island: 556 sqft, AED 720K
- Saadiyat Island: 673 sqft, AED 1.95M
1 bedroom apartment:
- Al Ghadeer Village: 680sqft, AED 720K
- Al Reef: 861sqft, AED 850K
- Al Reem Island: 907 sqft, AED 1.34M
2 bedroom apartment:
- Al Ghadeer Village: 1054 sqft, AED 1.1M
- Al Reef: 1238 sqft, AED 1.14M
- Al Reem Island: 1410 sqft, AED 2.1M
3 bedroom apartment:
- Al Reef: 1668 sqft, AED 1.43M
- Al Ghadeer Village: 2433 sqft, AED 2.4M
- Al Reem Island: 2057 sqft, AED 3M
Commenting on the report, Ms. Ann Boothello, Product Marketing Manager for property at dubizzle said: "The Abu Dhabi property market price increase was not limited to rental properties. Properties for sale in Abu Dhabi also saw an average price increase of 13%. However, two and three bedroom properties in Saadiyat Island have dropped in sale price by an average of 16%. That being said, we observed in our Q2 to Q3 2014 report that Al Reem Island and Al Reef properties showed no fluctuation in price over the span of one year. However, the same areas saw an average hike of 14% in Q4 of this year."
We would like to hear from you; what is your favorite community in Abu Dhabi and why? Tweet us at @dubizzle using the hashtag: #telldubizzle
About dubizzle.com
dubizzle.com is the leading classifieds website for users in the Middle East and North Africa. Since its launch in 2005, dubizzle.com has become the number one platform for users to buy, sell, or find anything in their community. A community where underused goods are redistributed to fill a new need, and become wanted again, where non- product assets such as space, skills and money are exchanged and traded in new ways that don't always require centralized institutions or 'middlemen'..
dubizzle.com is headquartered in the UAE, and is also available in Algeria, Bahrain, Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and Tunisia.
For any press inquiries, please contact:
Abdallah Touqan
Senior PR& Communications Lead
Abdallah@dubizzle.com
+971 56 1023140
www.dubizzle.com
dubizzle PR and Communication Team
pr@dubizzle.com
+971 4 4279779
© Press Release 2015
