Abu Dhabi’s bigger flats ‘in higher demand’
Abu Dhabi, September 26, 2013
Bigger apartments are more in demand in Abu Dhabi, which indicates that rental market in the UAE capital is dominated by bigger expat families, a report said.
The infrastructural development in the emirate is paving way for grand real estate times in coming couple of years, added the report released by Bayut.com, a leading real estate portal.
Meanwhile, the soaring demand for bigger flats for rent in Abu Dhabi is intriguing investors to consider investing in three- and four-bedroom apartments.
According to data maintained by Bayut.com, the rental price of one- and two-bedroom apartments in the capital state has dropped 4.20 per cent and 6.30 per cent respectively during the first three quarters of 2013.
The rates for one-bedroom apartments lifted slightly during the second quarter but rents of two-bedroom apartments have been subjected to a constant decline throughout the first 3 quarters of the year.
On the other, the rental price of three- and four-bedroom flats has seen a noticeable spike. Bayut.com’s data reveals that the rents of three-bedroom apartments in Abu Dhabi increased 10.4 per cent during the year.
For flats with four or more bedrooms, the rental price hike remained 11 per cent. With such impressive figures and promising future, bigger apartments not only promises sound rental yield but also a reasonable capital appreciation of the property, the report said.
Bayut.com also confirms that the sale price of bigger apartments in Abu Dhabi has increased at a rate better than studios, one- and two-bedroom apartments.
The prevailing rental trends in Abu Dhabi suggest that, to gain bigger returns on real estate investments, bigger families should be the target of the housing sector in general and investors in particular, according to the report. – TradeArabia News Service