propertyfinder.ae, the UAE’s leading property portal which recently released its Q4 2013 report, crunched the numbers to track sale prices of property across Abu Dhabi’s residential districts in Q4 2013. Identifying the top trending communities in the capital in terms of consumer search behaviour on propertyfinder.ae, the portal also spotlights a surge in property values in Abu Dhabi over 2013.
Clocking up close to 30% of the searches conducted on the website in Q4 – in comparison with the 22% figure in Q1 – and securing top spot for the second consecutive quarter in 2013, Al Reem Island continues to be a hotbed for buyers. Whilst prices of studios in the neighbourhood remained stable, those of one, two and three bedroom apartments increased by 14%, 15% and 6.6%, respectively.
Placing second in the most searched communities list last quarter, Al Reef showed a more dramatic increase in property values with studios presenting a price rise of 38% followed by one, two and three bedroom residences at 36%, 34% and 28%, respectively. Al Raha Beach, on the other hand, grabbed third spot and showed bigger variations in price rises with those of studios standing at 31%, one bedroom units at 15% and two and three bedroom properties at 16% and 20%, respectively.
The report also indicated a surge in interest in the ultra luxury market segment as Nurai Island, a private island villa development near Saadiyat Island, which failed to secure a place in the top 10 communities list in Q3 jumped to 10th place in Q4 2013. Sale prices of five and six bedroom waterfront villas in the community also recorded robust increases at 24% and 22%, respectively.
“Abu Dhabi’s real estate market surely showed signs of stabilisation and growth last year. The Expo 2020 site which is being developed in Jebel Ali, equidistant between the centres of Abu Dhabi and Dubai, is likely to benefit the Abu Dhabi market as well. Moreover, the advantages that Dubai’s economy will enjoy as a result of the Expo win will spill over to Abu Dhabi’s hospitality and short-stay property sectors, the latter of which is great news for investors,” said Renan M. Bourdeau, Deputy CEO of propertyfinder.ae.
“Governments are introducing initiatives to better regulate market fluctuations and with increased choice of quality stock, investor interest up and major infrastructure projects underway, the outlook for Abu Dhabi’s realty sector seems geared for positive change,” concluded Bourdeau
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