Abu Dhabi rents up 5%, off-island demand surges – Nationwide
Saadiyat Island has some of the highest annual rents, at up to $68,000 for a three-bedroom unit
Abu Dhabi rents rose by 5% in the third quarter, with more demand seen off the UAE capital’s main island, according to Nationwide Middle East Properties.
More tenants and agents are showing interest in areas such as Mohammed Bin Zayed City, Khalifa City, Al Reem Island and Al Reef Project, the Abu Dhabi-based real estate agency said.
The yearly rental price for a studio at Reem Island was in the range of AED 70,000 ($19,000) to 75,000, while a one-bedroom unit cost between AED 85,000 and 105,000, a report by the agency noted. Two-bedroom units ranged in price between AED 125,000 and 160,000, and three-bedroom units up to AED 240,000.
In areas like Al Reef, the annual rental price for a studio ranged between AED 60,000 and 65,000, and three-bedroom units up to AED130,000.
At Al Raha Beach, the average yearly rental price for a one-bedroom unit stood at AED 95,000 and AED 235,000 for a four-bedroom unit.
The yearly rental price at Ghadeer for a studio ranged between AED 40,000 and 45,000, a one bedroom unit ranged between AED 50,000 and 55,000, and a two bedroom unit ranged between AED 70,000 and 85,000.
At Al Saadiyat Island, the average yearly rental price for a studio unit was AED 95,000, a one-bedroom unit AED 110,000 to 115,000, while three-bedroom units went for up to AED 250,000.
Ameen Al Qudsi, CEO of Nationwide Middle East Properties, said: “When it comes to rental destinations, Al Reem Island tops the list, followed by Ghadeer, Al Raha Beach, Al Reef, Hydra Village, Baniyas, Khalifa City and Saadiyat.”
