Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Abu Dhabi rents soften in first quarter  Join our daily free Newsletter

MENAFN - Khaleej Times - 03/04/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) High-end properties in investment areas record 1-3% growth

Rental rates for prime two-bedroom apartments in abu dhabi now average dh200000 per annum whereas similarly sized properties in the investment areas of al raha beach and saadiyat island currently lease for an average of dh190000. — supplied photoHousing rents softened further in the first quarter especially at the lower end of the abu dhabi quality scale with little or no increase in some areas.


High-end properties in investment areas recorded modest increases of between 1-3 per cent said the asteco real estate report for the first quarter.


“rental rates were driven by tenants relocating from abu dhabi to higher quality and more modern buildings typically within investment areas. however prime properties situated on the corniche and khalidiya did continue to see high occupancy levels and retained strong premiums” said jerry oates gm of asteco abu dhabi.


Moving forward rental rates are likely to witness moderate growth during the course of the year as although significant supply was initially forecast for handover unanticipated delays could push deliveries to early 2015 thereby leading to more stability in supply/demand balance over the year added oates.


Rental rates for prime two-bedroom apartments in abu dhabi now average at dh200000 per annum whereas similarly sized properties in the investment areas of al raha beach and saadiyat island currently lease for an average of dh190000. at the lower end of the market two-bedroom apartments in abu dhabi are renting for an average of dh80000 per annum while the same size apartment in the investment area of reef dowown will cost dh95000 per annum on average.


In terms of villas a three-bed property in abu dhabi now costs on average dh190000 compared with al raha beach and saadiyat island where the same sized villa will cost dh260000 and dh300000 per annum respectively. the changing patterns of supply and demand led to a mixed performance for specific pockets of the abu dhabi real estate market in the quarter ended march 31 according to the real estate report.


In general average apartment sales prices increased by nine per cent two per cent less than the previous quarter. average villa sales climbed six per cent during the quarter three per cent higher than the previous quarter. in terms of sales prices there was robust demand for apartments at al raha beach due to limited availability with rates now between dh1000 and dh1550 per square foot. the gate towers at shams abu dhabi have also benefited from increases following their recent handover which saw prices increase by 19 per cent to dh1400 per square foot on average. low to mid-end developments such as reef downtown continued to record price increases above market averages as buyers searched for more affordable options.


Prices at reef downtown started from dh900 per square foot representing a 21 per cent increase from the last quarter 2013. villa sales price growth was predominantly driven by a lack of supply for freehold villa developments especially within the affordable segment. for instance sales prices for al reef villas grew by 50 per cent over the last 12 months. on average a three-bedroom villa now costs around dh1.95 million compared to dh1.65 million a year ago.

Haseeb?khaleejtimes.com


 


Khaleej Times




  MENA News Headlines
 Jun 25 2016 - Clouds Interiors, an Interior Design Company in Doha Qatar, is Now Offering Office Interior DesignsMENAFN Press
(MENAFN Press) --> DOHA, Qatar, June 25, 2016 /PRNewswire/ -- The founders of Clouds Interiors, a company that offers interior design Qatar business owners can rely on, are pleased to announce that ...

 Jun 25 2016 - IOM Responds to Malaria Upsurge in Bentiu, South SudanMENAFN Press
(MENAFN Press) IOM Responds to Malaria Upsurge in Bentiu, South Sudan GENEVA, Switzerland, June 24, 2016/APO (African Press Organization)/ -- IOM is scaling up resources to respond to an upsurge in ...

 Jun 25 2016 - Mediterranean Migrant Arrivals in 2016: 214,861 Deaths: 2,861MENAFN Press
(MENAFN Press) Mediterranean Migrant Arrivals in 2016: 214,861; Deaths: 2,861 GENEVA, Switzerland, June 24, 2016/APO/ -- IOM reports an estimated 214,861 migrants and refugees entered Europe by sea ...

 Jun 25 2016 - New Fantasy Novel by D.L. Jordan Hailed as the Next Harry PotterMENAFN Press
(MENAFN Press) The Genesis of Destiny, a book by author D.L. Jordan is being compared to Harry Potter and is set to captivate young adults and adults alike. The Genesis of Destiny: Book 1: The ...

 Jun 25 2016 - Thousands of Nigerian Refugees Fleeing Boko Haram in 'Dire Health Situation'Morocco World News
(MENAFN - Morocco World News) Medicins Sans Frontieres reported Thursday that almost 200 Nigerian refugees have died from starvation and malnutrition in the past month while in the Bama refugee camp. ...

 Jun 25 2016 - AfDB Approves $134 Million Loan to Support Morocco's Social Sectors GovernanceMorocco World News
(MENAFN - Morocco World News) ;">Abidjan – The African Development Bank (AfDB) approved, Wednesday in Abidjan, a loan of $134.65 million to support Morocco''s social sectors governance. The ...

 Jun 25 2016 - The Moroccan Antiquated TelevisionMorocco World News
(MENAFN - Morocco World News) Some years ago, the late Larbi Messari, journalist, newspaper editor and former minister of communication told the press that Moroccans were ''audio-visual migrants'' ...

 Jun 25 2016 - SCOTUS Ruling on SDVOSBVOSB Companies Serving the Dept of Veterans AffairsMENAFN Press
(MENAFN Press) SCOTUS Ruling on SDVOSB / VOSB Companies Serving the Dept of Veterans Affairs Centered by Patient Care, Driven by Innovation Veterans Serving Veterans Our team has decades of ...

 Jun 25 2016 - Adipic Acid Market Research Value Analysis and Forecasts to 2021MENAFN Press
(MENAFN Press) Adipic Acid Market Research Value Analysis and Forecasts to 2021 ReportsWeb added report on "Global Adipic Acid Consumption 2016 Market Research Report'', the report comprises ...

 Jun 25 2016 - Jordan to sign deal with EU for energy projects at USD101.51mnMENAFN
(MENAFN) Jordan will sign a deal with the EU granting the kingdom almost USD101.51mn in order to support renewable energy projects.Furthemore, the grant will fund the second phase of the renewable ...

more...


 





Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help