July 2021 - Al Reem Island, Yas Island and Khalifa City dominate demand for sales and rent in the capital

Highlights:

• 20.2 percent of all searches for villa/townhouses to buy in July were in Yas Island
• 19.7 percent of all searches for apartments to rent in July were in Al Reem Island
• 18 percent of all searches for apartments to buy in July were in Khalifa City
• Listings in Al Zahiyah, The Marina and Al Raha Golf Gardens increased by more than 150% in the past 6-months

Abu Dhabi: According to Property Finder proprietary data, 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.

The average apartment sales listing price for a property in Abu Dhabi increased from AED 1,150,000 in January to AED1,300,000 in February and it remained consistent throughout the year falling to 1,256,000 in June and back again in July. The Average Villa/Townhouses sales listing price however have shown a steady increase over the year and grew from AED 4,100,000 in January 2021 to 4,573,000 in July an increase of 11.5%.

The Average apartment rental listing price for a property in Abu Dhabi decreased from AED 70,0000 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. 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.” according to Lynnette A Sacchetto, Director of Research & Data.

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 Lynnette Sacchetto, “The user demand of apartments for sale in July 2021 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.”

Sacchetto added that 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.

About Property Finder – www.propertyfinder.ae  

Property Finder is the leading property portal in the MENA region and Turkey that facilitates the house-hunting journey for both buyers and renters.

Founded in 2007, the website has evolved over the years as the go-to platform for developers, real estate brokerages, and house hunters to make informed decisions on all things real estate.

A UAE-born start-up, Property Finder has branched out of the country’s shores and operates in a total of seven markets, including Qatar, Bahrain, Saudi Arabia and Egypt, and has a significant stake in the second-largest property portal in Turkey, which has over 6 million monthly visitors and more than 18,000 real estate agents. 

US private equity firm General Atlantic led Property Finder’s latest round of investment of a total of $120 million in 2018. This is being used to hire further exceptional talent and investing in its technology and product capabilities.

The property portal employs over 450 employees globally, of which 204 people work out of its Dubai office, and generates over six million monthly visits as a Group.

In April 2019, Property Finder announced the acquisition of JRD Group, following an increased investment in Turkish portal Zingat.

In 2014, Property Finder acquired eSimsar.com, the top property portal in Saudi Arabia, while in 2013, the Group bought out realestate.com.lb, the number 1 property portal in Lebanon, and lastly, the acquisition of Selektimmo, a Moroccan portal, to pad out sarouty.ma, Property Finder’s Moroccan offering, in 2016.

For media enquiries, please contact
Faisal Zaidi
faisal@propertyfinder.ae 

© Press Release 2021