The average property listing prices for sales have increased across the majority of communities in Abu Dhabi. Rents have declined except in communities like Saadiyat, Al Reem and Yas Island which have been in high demand, according to a report by UAE portal Property Finder.

 

The average apartment sales listing price for a property in Abu Dhabi increased from AED1.15 million in January to AED1.3 million in February and it remained consistent throughout the year falling to AED1.25 million in June and back again in July, stated the report. 

 

The average villa/townhouses sales listing price however have shown a steady increase over the year and grew from AED4.1 million in January 2021 to 4.57 million in July an increase of 11.5%.

 

According to Property Finder, the average apartment rental listing price for a property in Abu Dhabi decreased from AED70,0000 in January to AED 68,000 in July, after having remained consistent throughout 2021. 

 

The average villa/townhouses rental listing price has shown a steady decline over the year and fell from AED 170,000 in January 2021 to 160,000 in July, a decline of 5.9%.

 

"In Abu Dhabi there is an undersupply of villas, which puts the seller at the advantage especially in areas like Saadiyat Island and Yas Island," remarked Lynnette A Sacchetto, the Director of Research & Data at Property Finder.

 

"We see other areas like Al Reem Island, where an oversupply of units has created a buyer’s market and buyers are at an advantage when it comes to price negotiation," he noted.

 

The top areas for apartment sales listings in July were Al Reem Island, Yas Island, Al Raha Beach, Saadiyat island, Al Reef and Al Ghadeer. 

 

The average listing price in Al Reem Island increased by 15.79 percent over a 6-month period to AED 1,100,000, Yas Island increased by 4.17% to AED 1,250,000 and Saadiyat island increased by 11.64%  to AED 2,915,000.

 

The top areas for villa/townhouse sales listings in July were Yas Island, Saadiyat Island, Al Reef, Al Raha Gardens, Al Ghadeer and Ghantoot. The average listing price in Yas Island increased by 19.05 percent over a 6-month period to AED 5,000,000 and Saadiyat Island increased by 11.47% to AED 10,477,777 and Al Reef increased by 11.43%  to AED 1,560,000.

 

According to Sacchetto, the user demand of apartments for sale in July was dominated by Al Reem Island that had more than 40 percent of all user searches followed by Yas Island. 

 

"Al Raha Beach, Saadiyat Island, Masdar City and Al Reef. For Villa/Townhouses, Yas Island had the most searches with 20.2 percent, followed by Saadiyat Island, Al Reef, Khalifa City, Mohamed bin Zayed City and Al Raha Gardens," she stated.

 

The top terms searched on Property Finder for apartments and villa/townhouses, for both rent and sales were - furnished, high floor, sea view, brand new, parking and beach, she added.-TradeArabia News Service