Bayut.com confirms that now is the right time to sign a lease on a property in Abu Dhabi as rents for all types of property in the capital have adjusted downwards in H1 2017, compared to H2 of 2016. More precisely, Bayut reports that rent is 6.3% cheaper on average across the emirate, with certain property types experiencing an even higher decline in price, such as 4-bedroom villas (now 7.7% cheaper, compared to H2 of 2016). To give you a full overview, Bayut has launched an exclusive report on the most in-demand areas for Abu Dhabi renters in June 2017, with average rent breakdowns. Whether you’re looking to move to Abu Dhabi for the first time, change community, or renew your lease, look in one of the communities below.
1. Al Reem Island
Al Reem Island is sometimes also known as Abu Dhabi’s substitute for Dubai Marina, in terms of popularity – especially now with the drop in rent. The community offers the serenity of an island combined with ultra-modern facilities with luxurious amenities. Studio apartments in Al Reem in June could be rented out at an average AED 60,000, compared to AED 68,000 in June 2016. Rents for roomier options in June 2017, such as 1-bed, 2-bed and 3-bed apartments averaged around AED 82,000, AED 120,000 and AED 154,000, respectively. Average rents of 4+ bed apartments in the locality fetched AED 260,000 in June 2017, compared to considerably higher digits in June last year. To browse properties in Al Reem, click here.
2. Khalifa City A
The suburban locality Khalifa City A was the third most popular area for renting apartments in Abu Dhabi last month. Since its inception, the community has attracted thousands of UAE residents looking to lease and mostly due to the area’s family-friendly character and low living costs. Studio apartments in Khalifa City A in June 2017 averaged AED 33,000 for yearly rent, compared to AED 38,000 in June last year, per Bayut’s database. 1-bed and 2-bed units could be occupied at AED 53,000 and AED 80,000, respectively. For families looking for spacious apartments in Khalifa City A, rents of 3-bed apartment averaged around AED 130,000, while 4-bed units could be occupied at AED 170,000 as of June 2017. To look for affordable rentals in Khalifa City A, visit the area’s page on Bayut.
3. Al KHALIDIYA
Al Khalidyah was the third most popular locality in Abu Dhabi last month per total number of search hits Bayut received in June 2017. Residents of Abu Dhabi know this area is well-rounded in terms of both connectivity (E20 – Khaleej Al Arabi Street runs through it), amenities and low rental costs. Residential units in Khalidiyah were a bit pricier, compared to those of Khalifa City A. Average rent of a studio apartment hovered around the AED 38,000 mark in June, while 1-beds cost AED 82,000 on average. Two and three bedroom apartments commanded AED 125,000 and AED 130,000 in that order. To find a home in Al Khalidiyah, click here.
The Fourth and fifth most in-demand areas for Abu Dhabi renters were the up-and-coming high locality, Mohammed Bin Zayed City and the similarly promising Al Muroor. Mohammed Bin Zayed City offers 1-beds at an average price of AED 45,000, while the same unit can be leased for slightly more than that in Al Muroor. All in all, it’s a good time for anyone looking to lease in the UAE’s capital. Stay tuned to MyBayut for more reports bringing you insight on affordable accommodation in the Emirates.