Golf homes pick up demand in capital

Golf courses, towers in the region carry his nameImage Credit: Courtesy of Chestertons

Demand for luxury golf villa properties in Abu Dhabi for both sales and rentals has seen consistent growth this year, according to property agency Chestertons, which recently previewed two high-end properties that cater to both Emiratis and expats.

Golf communities are high in demand globally due to their exclusivity and luxury appeal, according to Chestertons. They are popular with senior executives and businessmen who can afford an exclusive lifestyle. Furthermore, Abu Dhabi is gaining interest as a regional golf destination with worldclass golf clubs.

“Villa sales prices have remained stable in 2015, along with the recent launch of several new projects in Saadiyat, which witnessed good demand,” said Declan McNaughton, Managing Director of Chestertons. He said golf properties are  popular because of the opportunity to reside in an upscale address surrounded  with great views and access to a a golf course.

“Abu Dhabi’s property market will continue to remain buoyant through 2016 due to its strong growth potential and rise in demand for such high-end villa properties,” said McNaughton. “[It’s] real estate sector provides signs of stabilisation, with an average 4 per cent quarterly rental growth.”

According to Chestertons, a four bedroom townhouse villa at Al Raha Golf Gardens starts from around Dh4.27 million and a six-bedroom executive villa is priced at Dh12 million. The rentals at the same property are in the range of Dh220,000- Dh450,000 per year. Rentals at Abu Dhabi Mangrove Suites are from Dh175,000- Dh320,000 per year. Al Raha Golf Gardens and Abu Dhabi Mangrove Suites were the two properties previewed by the firm.

Average villa price is around Dh2.3 million in Al Ghadeer area and Dh12 million in Al Raha. Villas in Al Reef start at Dh7 million, while it is Dh15.3 million in areas such as Khalifa City and Saadiyat Island.

“Such high-end properties are in short supply, therefore, demand will continue to grow in the coming years until the new projects are handed over,” said Drica Rodrigues, Head of Abu Dhabi Agency at Chestertons. “Abu Dhabi offers some of the best rental returns in the country and is one of the safest places for property investment.

“The developer’s perception about the property market is set to be optimistic as new developments were launched primarily in Reem, Yas and Saadiyat Islands. This fosters confidence for the buyer into the market as more options are now available over time.”

Source: Property Weekly


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