Nationwide Center East Properties has issued some updates for the freehold properties by way of leasing and gross sales. The best demand is clearly noticeable for Al Reem Island Initiatives and Al Reef.
Nationwide Center East Properties, a number one actual property agency in Abu Dhabi has issued a examine in regards to the newest tendencies and statistics for the third quarter of this 12 months the place an increase of 5% of leases in Abu Dhabi space has been seen as examine to the 2nd quarter of 2015. This leasing worth improve has pressured the tenants to maneuver away from the town to lease decrease priced properties, resembling Mohammed Bin Zayed Metropolis in addition to the freehold properties off the Abu Dhabi Island similar to Reem Island and Al Reef.
Ameen Al Qudsi,Excessive Demand of Freehold Properties – Market Research Articles the CEO of Nationwide ME Properties stated “With regard to the demand of the properties for hire, Al Reem is on high of the checklist that pulls many of the tenants to reside in, which is adopted by Al Reef, then Al Raha Seaside. Although the opposite areas’s general demand stay comparatively excessive – comparable to Al Ghadeer – the demand has seen a decline in Q3 in comparison with Q2.”
Throughout the third quarter of 2015, the typical studio being rented on Reem Island is from 70k to 75k dirhams per 12 months, the 1 bed room house hire is from 85k to 105k, and the 2 bed room unit differs between 125k and 160k. Whereas the rental worth for the three bed room residence, ranged between one hundred seventy and 240 thousand dirhams.
In Al Reef, the worth of a studio is from 60k to 65k dirhams per yr, 1 bed room is 80k to 85k, two bed room condominium is 95k to 100k, and the three bed room house is 120k to 130k. Whereas the typical hire consisting of 1 bed room in Al Raha Seaside space is about 95k dirhams, the 2 bed room condo is 145k, three bed room condo of 175k to 185k , and the four bed room condominium is 235k DHS.
In Al Ghadeer, the studio lease ranged between 40k to 45k dirhams per 12 months, the 1 bed room is 50k to 55k, two-bed room is 70k to 85k. Whereas the common lease studio in Saadiyat Island reached 95k dirhams per yr, the one bed room is from 110k to 115k, and the 2 room house is 160k to 180k, and three-bed room house is 225k to 250k dirhams.
The examine confirms the regular stream between the demand and the market worth in Abu Dhabi through the third quarter of 2015. The upper costs on the market have been recorded respectively for Al Raha Seaside, Saadiyat, then Al Reem Island.
“Many of the property purchases in Abu Dhabi – by the traders and finish customers – are centered on the brand new tasks, particularly The Kite Residences and The Wave Tower on Al Reem Island”, stated Ameen Al Qudsi, CEO of Nationwide Center East Properties”.
“With regard to the properties on the market, Al Reem Island is seen on high of the communities which attracts many of the residence patrons and traders. That is adopted by Al Reef, then Hydra Village, Al Ghadeer, Al Raha Seaside, Al Raha Gardens, Golf Gardens and Saadiyat”, Ameen continued.
Through the third quarter of this yr, the worth for a studio on Reem Island was ranged between 880k and 1.05M DHS, 1 bed room house is from 1.1M to 1.3M, the 2 2 bed room residence is from 1.5M to 1.9M, three-bed room house for two.85M to three.2M, and the four bed room unit from three.7M to 4M DHS.
In Al Reef, the value of the studio is 650k AED, 1 bed room is from 850k to 900k AED, the two bed room residence is from 1.14M to 1.2M AED, and the three bed room condominium from 1.45M to 1.5M.
The studio condo value is ranged from 1.35M to 1.4M in Al Raha Beach, the 1 bed room is from 1.4M to 2.1M, the two bed room is from 2M to 2.6M, the three-bed room condominium from 2.6M to four.5M, and the four bed room from three.3M to 6M.
A studio in Saadiyat island prices between 1.6M and 2M AED, and the unit consisting of 1 bed room, from 2.4M to 2.7M AED, the 2 bedrooms is 2.9M to three.3M AED, the three bed room condo from three.8M to four.2M AED, whereas the worth of a four bed room unit amounted for five million dirhams.
For Al Ghadeer studio condominium, the value is ranged between 460k and 550k dirhams, one bed room is from 650k to 725k, and the 2 bed room condo from 900k to 1.15M dirhams.
We will conclude by the above evaluation that the true property market is steady in Abu Dhabi. It’s the finest time to get a maintain on a brand new property as identical for an finish consumer or for funding functions. Taking full benefit of this market prosperity and shopping for property can be the suitable choice to swap the leases with installments.