According to the director of research and data at Property Finder, the top searched keywords across the UAE were private, chiller free, no commission and standalone for townhouses/villas. Understandably, chiller-free is one of the leading factors, as the electricity bills in the hot summer are higher due to the AC. As the market has a high amount of stock, there are a lot of agencies working directly with developers. They offer no commission structures and profitable deals to attract renters.
The residential capital values in Abu Dhabi have seen a steady rise during Q1 of 2021 with quarterly growth ranging from 1.8% to 5.6%, as stated by ValuStrat. ROI across Abu Dhabi is 7.4% on average, where apartments generate 7.7% and villas – 6.9%. Currently, the residential occupancy of the emirate is about 80%. In Q1 of 2021, the residential value averaged at AED 803 per sqft (USD 219), apartments stood at AED 878 (USD 239) per sqft and villas at AED 623 (USD 170) per sqft.
According to Property Finder, Al Reem Island was the most popular among tenants and ranked first in renting luxury apartments. For those who are interested in renting villas on Al Reem Island, the average annual cost of a 4BR home is AED 251,000 (USD 68,400) and the average rental price for a 1BR apartment is from AED 60,000 (USD 16,400) per year.
Al Raha Beach and Corniche Area both have an average rental price of 1BR apartments in the region of AED 76,000 (USD 20,700), Corniche Road - AED 82,000 (USD 22,400), Al Bateen - AED 71,000 (USD 19,400), Al Khalidiyah - AED 55,000 (USD 15,000) and Khalifa City A - AED 42,000 (USD 11,500). Renters were mostly interested in studio apartments, while 1, 2 and 3BR apartments had a slightly lower response.
Potential tenants who are considering renting a villa in Abu Dhabi but are on a tight budget have shown a steady interest in homes in Mohammed Bin Zayed City at an average rental price of AED 95,000 (USD 25,900) for a 3BR unit. Despite the overall rise in rents around the world, this quiet residential suburb remains popular due to its family nature and proximity to Dubai. The following locations have the current rent prices, Khalifa City A - AED 137,000 (USD 37,300), Al Reef - AED 103,000 (USD 28,000), Shakhbout City (Khalifa City B) and Al Muroor - AED 109,000 (USD 29,800).
Tenants looking for luxury villas to rent in Abu Dhabi have also turned their attention to established waterfront communities like Saadiyat Island. A 4BR villa averages around AED 397,000 (USD 108,100), in Yas Island the same will cost you AED 261,000 (USD 71,000) and in Al Raha Gardens the rent per year will start at AED 155,000 (USD 42,200). According to Property Finder, the top searched terms were parking, no commission, sea view and new balcony.