In Pictures: These are the top locations in Dubai and Abu Dhabi for buying a new home

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In Pictures: These are the top locations in Dubai and Abu Dhabi for buying a new home

Some locations are starting to firm up on price front and that acted as a spur for buyers

Published: July 26, 2021 13:07 Nivetha Dayanand, Web Editor and Manoj Nair, Business Editor

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1.824720-3541178794 — GREEN COMMUNITY | Dubai property market put together another solid month of growth in June, with 6,388 transactions worth Dh14.79 billion. What’s remarkable is this is the best monthly tally since 2013, according to the Dubai Land Department. Sales in June are 44.33 per cent higher in terms of volume and 33.2 per cent in value compared to May. This brings the year-to-date total to 27,373 transactions worth Dh61.97 billion. Last year’s total number stood at 35,041 worth Dh71.87 billion. Image Credit: Megan Hirons Mahon/ANM

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190910 dubai hills estate — DUBAI HILL ESTATE | In terms of villas and townhouses, Green Community, Mohammed Bin Rashid City, Dubai Hills, Arabian Ranches 3 and Akoya topped the list. As for apartment locations, the top areas were Meydan, Jumeirah Lake Towers, Dubai Marina, Business Bay, and Downtown. Image Credit: Supplied

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PW-200521_vila demand_web_Arabian Ranches_archives-1590041654005 — ARABIAN RANCHES 3 | Compared to Q2-2020, this year shows an increase of 183.4 per cent on volume and 237.79 per cent for value of sales transactions. And compared to Q2-2019, this quarter has an increase of 78.27 per cent for volume and 102 per cent on value – all of which points to a property market that is definitely on the mend. Image Credit: Gulf News Archives

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1.1907511-5235572 — AKOYA | Between April to end June, 61.5 per cent of all sales were for secondary/ready properties and 38.5 per cent for offplan properties. In terms of volume, the offplan market transacted 6,025 properties worth Dh9.17 billion and the secondary market transacted 9,613 properties of Dh27.68 billion. Image Credit: Damac Properties

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1.2181300-3896282211 — JUMEIRAH LAKE TOWERS | In Abu Dhabi, there has been a steady increase in interest for both affordable and luxury villa communities. Demand from both homebuyers and tenants have stayed high, resulting in increasing prices for family-friendly homes in the emirate. Image Credit: Pankaj Sharma/Gulf News Archives

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dubai-marina-skyline-2c8f1708f2a1 — DUBAI MARINA | As per the data released by the Department of Municipality and Transport, Abu Dhabi recorded real estate transactions worth Dh11.5 billion in the first quarter of 2021 alone, with the value of mortgages exceeding Dh6.5 billion. Aldar Propertiesreported the rapid sell-out of the newly-launched Noya villas on Yas Island, highlighting the appetite for high-quality, family-oriented homes in the emirate. Image Credit: Supplied

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BUSINESS-BAY_shutterstock_515421664 — BUSINESS BAY | According to data released by Bayut for H1-2021, prices in Abu Dhabi increased by up to 9 per cent. Prospective investors of luxury apartments have turned towards waterfront communities such as Al Reem Island and Al Raha Beach, while Saadiyat Island and Yas Island remains popular among premium villa category. Image Credit: Shutterstock

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Fog covers skyscrapers in Downtown Dubai — DOWNTOWN DUBAI | Consumers keen on smaller ticket properties have preferred freehold suburbs such as Masdar City, Al Reef and Al Ghadeer for apartments. When it comes to the more affordable villas for sale in Abu Dhabi, Al Reef, Shakhbout City and Hydra Village remains the popular options. Image Credit: Krishna Prasad/Gulf News reader

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STOCK Reem Island — REEM ISLAND | In the rental market, apartments in Abu Dhabi experienced minor price declines of up to 7 per cent in the first-half of 2021. On the other hand, villa properties have seen an uptick in rental prices between 2 per cent and 18 per cent. Image Credit: Shutterstock

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1.2103531-2063311116 — AL RAHA BEACH | Suburban communities and older neighbourhoods such as Khalifa City A, and Al Khalidiyah have dominated the affordable apartment market, whereas Mohammed Bin Zayed City remained the firm favourite with those looking to rent reasonably priced family-friendly villas. Image Credit: Gulf News Archive

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1.790418-1952784178 — KHALIFA CITY A | Saadiyat Island has remained the top pick for luxury villa sales in Abu Dhabi. The average price-per-square-foot for villas in Saadiyat Island has seen an uptick in H1 2021, going from Dh1,343 to Dh1,357, pointing to the steady demand for luxury waterfront properties in the capital. Image Credit: Silvia Baron/ANM

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1.1322364-4159418519 — AL BATEEN | The upscale villas in Yas Island have experienced an 8.7 per cent increase in average sales price-per-square-foot, standing at Dh1,075 in H1 2021. The price-per-square-foot for houses in Al Raha Gardens has increased by 2.15 per cent, averaging at Dh830 in H1 2021. Image Credit: Supplied

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Stock Yas Island — YAS ISLAND | The suburb of Al Reef has been the most popular choice for affordable ready villas for sale during H1 2021. The sales price-per-square-foot for villas in Al Reef has increased by 5.1 per cent during H1 2021, rising from Dh626 to Dh658. Image Credit: Supplied

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1.790418-3220513705 — AL RAHA GARDENS | Al Reem Island has remained the most popular choice for high-end apartments in Abu Dhabi. Sales prices for apartments in Al Reem Island have remained largely steady in H1 2021, with the average price-per-square-foot standing at Dh999. The average rents for apartments on Al Reem Island have seen slight decreases during H1 2021, averaging at Dh59,000 for 1-bed apartments, Dh83,000 for 2-bed flats and Dh126,000 for 3-bed units. Image Credit: Silvia Baron/ANM

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Mohammed Bin Zayed city — MOHAMMED BIN ZAYED CITY | As per the data, Mohammed Bin Zayed City (MBZ) has remained the first choice for affordable villa rentals in Abu Dhabi. The average rents for 3 and 5-bedroom villas in MBZ City have remained fairly stable, standing at Dh92,000 and Dh146,000 respectively. Image Credit: Gulf News Archive

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1.2010083-4062574078 — AL REEF | In the first six months of 2021, Khalifa City A has remained the top choice for tenants interested in affordable apartments in Abu Dhabi. The asking rents in Khalifa City A have experienced moderate fluctuations in H1 2021. Image Credit: Abdul Rahman/Gulf News Archives

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Abu Dhabi skyline — Studio apartments have seen rental prices dip by 2.6 per cent to Dh27,000, while asking prices for 1-bed flats have stayed steady at Dh42,000. The 2-bed apartments in Khalifa City A have seen an uptick of 7.9 per cent in rental costs, averaging at Dh63,000. Image Credit: Supplied

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Abu Dhabi skyline. — Similarly, rental apartments at Al Raha Beach, Corniche Area and Corniche Road have experienced minor price fluctuations under 5 per cent. On the other hand, Saadiyat Island has seen average rents rise between 13 per cent to 19 per cent for apartments, which could be attributed to newly handed-over projects in the area. Image Credit: Shutterstock

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