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- The results of the real estate market in Abu Dhabi and the decline in rental prices
Abu Dhabi real estate market: results 2021
According to the Abu Dhabi's Department of Municipalities and Transport, the Emirate registered 14,958 property transactions worth $19.4 billion in 2021. Areas with the highest transaction value: 1 Yas Island – $1.1 billion 2 Reem Island – $871 million 3 Saadiyat Island – $681 million Compared to 2020, prices increased for: Villas – by 14% Apartments – by 2% According to the ValuStrat Index (VPI):
- Capital values increased by 11% (to 70.2 points) in December 2021 compared to December 2020.
This is the highest level since 2017.
Decrease in rental and sales prices for real estate
Dubai rents and sales prices will decrease in Q1-2 2022, according to a new analysis by the consultancy, Asteco. This is due to the expected handover of:
- 30,000 new residential units
- 186,000m² of new office space
In 2021, 17,000 residential units and 139,000m² of office space were handed over. Developments such as JVC and Akoya Oxygen accounted for the bulk of the new supply. Sources: The National News, Zawya
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