Abu Dhabi realty steadies in Q3

Abu Dhabi realtyImage Credit: Supplied

The Abu Dhabi real estate market was left relatively unchanged, with little or no movement on average in residential sales or leasing prices, according to a new Asteco report.

Modest price increases and decreases were recorded in localised communities, however, the report noted that growing confidence and improved investor sentiment is likely to support sustainable growth in the short to medium term.

Although average apartment sales prices changed little quarter-on-quarter, a 28 per cent increase was witnessed annually to the end of the third quarter. This trend was mirrored by villa sales prices, which were flat during the quarter, despite the limited availability of stock, but still achieved an average annual increase of 14 per cent.

“The popularity of developments within investment areas is a trend that continues to be simulated quarter-on-quarter as sales prices firm up,” said Jerry Oates, General Manager of Asteco Abu Dhabi.

“The sales volumes achieved by Aldar on the Ansam and Al Hadeel projects in Al Raha Beach and Yas Island have highlighted the robust demand for the right type of product within Investment Zones.”

Source: Property Weekly


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