Dubai: Khalifa City remains the most affordable rental location in Abu Dhabi, with a one-bedroom apartment averaging Dh42,000 and a studio at Dh27,000.
Other districts with budget-friendly apartment options - Al Khalidiyah, Al Muroor, Hamdan Street and Tourist Club Area (TCA) – also had “moderate” declines of up to 8 per cent in average rents.
A favoured location – this time, among upper-income families and professionals – is Al Reem Island and which turned more tenant-friendly with a drop of 6 per cent in asking rents. This is because some of the existing tenants there shifted to new villas cropping up at Saadiyat and Yas islands.
“As a result, apartment(-based) communities (like Al Reem Island) have to keep prices competitive,” says a report by Bayut-dubizzle.
The average rent of one and two-bed flats in Al Reem Island have averaged Dh58,000 and Dh85,000, whereas three-beds are at Dh125,000.
Al Raha Beach, Corniche Area, Corniche Road and Saadiyat Island were the other popular choices for rentals, with movers getting a chance to tap into a 10 per cent decline in asking rents during 2021. But apartment rents at Saadiyat Island have had “significant increases of up to 31 per cent, reflecting the growing demand for the area and the influx of new, higher priced inventory in the market,” Bayut-dubizzle reports.
