Speaking about Abu Dhabi districts there can be marked out several localities with the most intensive market activity stated in the beginning of 2020. These are: Al Reem Island – a unanimous apartments sales leader, Al Raha Beach
and Yas islands, Al Reef, Masdar City
, Baniyas and Al Ghadeer.
In the 1st quarter of 2020 we observe a slight decline of purchase prices for apartments in popular freehold areas ranging from -0,4% to -3,6%, if compared to Q4 of 2019. Along with that, one of the key city districts Al Reef shows growth by 0,8%.
Following a well-established in 2019 trend Al Reem Island properties are still the top choice for many customers. An average price per sq ft for an apartment amounted to USD 275 (AED 1.011; RUB 20.742) in the end of 2019 was decreased to USD 248 (AED 911; RUB 18.690) in Q1 2020. The second most popular development to acquire homes a waterfront Al Raha Beach has also experienced decline of property values by 3,6% on average. One-bedroom apartment was priced at USD 311.198 (AED 1.143.000; RUB 23.450.248) in Q1 this year.
Al Reef offers mid-range villas and apartments for sale, which give healthy 8% rental yield on average. In the beginning of the year an average value for one-bedroom apartment made up USD 172.888 (AED 635.000; RUB 13.027.915), if taken as the whole the prices for the apartments grew less than 1% from Q4 2020. Prices for villas stepped a bit higher up by 1,1%. Yas Island
and Al Raha Gardens villas are also well-received, and the prices have been increased by 2,1% and 1,9% respectively. In Q1 2020 one square foot of Yas Island villa was valued for USD 230 (AED 846; RUB17.357), at Al Raha Gardens USD 211 (AED 773; RUB 15.859).
About differences between secondary and off-plan real estate market in Abu Dhabi read here