Demand for villas and apartments in Al Reem Island continue to soar

Home  /  News  /  Demand for villas and apartments in Al Reem Island continue to soar

In recent information, it was revealed that the average costs of villas and apartments across key residential societies in Abu Dhabi. While studio prices in the emirate stand at Dh689,000, a one bedroom in the city costs Dh1.3 million and a two-bedroom apartment, Dh2 million.

Demand for villas and apartments in Al Reem Island continue to soar

Demand for villas and apartments in Al Reem Island continue to soar

This data was based on for-sale homes and rentals listed. Topping the list of places for buying property in Abu Dhabi is Al Reem Island, next is Al Reef and then the Al Raha Beach. Al Ghadeer enters the top 10 this quarter; its appeal seems to be rising as it did not make the list in second quarter of 2013 and 2012.

The average value of an apartment in Al Reem Island is prevailed firm at Dh1.9 million with the price per square foot about Dh1,483. Al Reem Island was also the most searched community on the site for leasing property in second quarter. Al Reem Island pilfers the spotlight from Khalifa City this quarter to become Abu Dhabi’s most searched leasing community.

Mohammed Bin Zayed City’s attractiveness seems to be rising. From not making the top 10 in second quarter of 2013 and second quarter of 2012, the area is now at the sixth place. Abu Dhabi renters can anticipate to pay on average the amount of Dh65,000 for a studio-type, while Dh92,000 for a one-bedroom and Dh139,000 for a two bedroom apartment. On the other hand, in Al Reem Island rental fees are also on the rise and the tenants will have to pay approximately the amount of Dh122,000 for an apartment and for a villa amounting to Dh275,000.

Khalifa City is ranking on second place in the list of Abu Dhabi’s most searched rental societies which offers on an amount of Dh102,000 for apartments and villas approximate around Dh243,000.

Mohamed Dekkak