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Abu Dhabi Real Estate Prices Stabilize

Abu Dhabi Real Estate Prices Stabilize

Wednesday, 16 October, 2019 - 08:00
Real estate sales prices and rental rates in Abu Dhabi saw a marginal decline during Q3 2019
Abu Dhabi - Asharq Al-Awsat

Real estate sales prices and rental rates in Abu Dhabi saw a marginal decline during the third quarter of 2019, a recent report by Chestertons Estate Agents said.


Average apartment sales prices dropped by 1 per cent during the quarter, with villas showing no movement, according to the Observer: Abu Dhabi Market Report Q3 2019.


A similar trend was seen in the rental market where average apartment rents went down 1 per cent, while villa rates remained stable from the previous quarter.


“There is no significant new supply expected to be delivered next year, which means there could be a better balance between supply and demand,” said Managing Director of Chestertons Nick Witty.


“This and a series of government initiatives, including allowing foreign nationals to own freehold properties, will ultimately lead to a more stable market as we move into 2020,” he added.


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