Motorists are urged to take alternative streets
uae11 hours ago
Abu Dhabi apartment rental rates have softened marginally – one per cent – during the second quarter of 2021, although several properties remained more or less stable due to previously recorded drops.
Whilst the higher reductions in the first quarter of 2021 occurred in the lower end of the market, the second quarter focused on mid and high-end properties, with some units noting declines of 10 per cent to 15 per cent, according to real estate consultancy Asteco.
“Incentives such as multiple cheques, rent-free periods and waived/discounted agency fees have resulted in an increase in demand for mid and high-quality buildings, particularly on Reem Island and Al Raha Beach,” it said in the quarterly report.
Similar to the first quarter of 2021, the Abu Dhabi tenant movement was dominated by residents looking to upgrade or upsize, particularly in respect of villas and townhouses. This was facilitated by the increased availability within the mid to high-end sector, it added.
Rents are now quite at a decent rate as a studio costs Dh22,000 per annum to tenants in the UAE capital.
Based on Asteco data, below are the starting annual rental rates for a studio, 1-bedroom, 2-bedroom and 3-bedroom apartments for the most affordable areas across Abu Dhabi.
Studio:
>> Dh22,000 in Khalifa & MBZ City
>> Dh25,000 in Khalidiya/Bateen
>> Dh30,000 in Central Abu Dhabi
>> Dh30,000 in Corniche
>> Dh32,000 in Al Reef
1-bedroom:
>> Dh32,000 in Khalifa & MBZ City
>> Dh38,000 in Khalidiya/Bateen
>> Dh40,000 in Central Abu Dhabi
>> Dh42,000 in Corniche
>> Dh45,000 in Al Reef
2-bedroom:
>> Dh42,000 in Khalifa & MBZ City
>> Dh45,000 in Central Abu Dhabi
>> Dh50,000 in Khalidiya/Bateen
>> Dh55,000 in Corniche
>> Dh58,000 in Al Reef
3-bedroom:
>> Dh55,000 in Central Abu Dhabi
>> Dh60,000 in Khalifa & MBZ City
>> Dh65,000 in Khalidiya/Bateen
>> Dh68,000 in Corniche
>> Dh75,000 in Al Reef
waheedabbas@khaleejtimes.com
Motorists are urged to take alternative streets
uae11 hours ago
UAE’s Alblooshi and Sood in pursuit of Female Division leader Duangsam at RAK’s Al Hamra Golf Club, RAK
sports12 hours ago
The emirate has been working on a comprehensive plan to replace overhead lines in the Central Region with underground cables
uae12 hours ago
The announcement comes soon after holidays were declared for the UAE ministries, federal entities, and employees in the private sector
uae13 hours ago
Winners of the annual Emirates Labour Market Award spoke about how they plan to use the money to build their dream houses, start businesses
uae13 hours ago
10 lucky fans will have the once-in-a-lifetime chance to meet the eight-division world champion
uae attractions14 hours ago
ASAS 2024 brought together over 1,000 young talents from 50 nationalities under the theme 'Art and Innovation'
kt network14 hours ago
While President-elect Trump's administration originally filed the search case against Google during his first term, he indicated he might not break up the company
tech15 hours ago