Real estate prices in Abu Dhabi rose by up to 2.6 percent in the third quarter of 2021 as the emirate replicated the recovery seen in neighbouring Dubai, according to new research.
The Q3 2021 ValuStrat Price Index (VPI) for capital values in Abu Dhabi’s residential investment zones saw quarterly improvements for the fourth time in a row.
The valuation-based index grew 2.3 percent quarterly with growth ranging from 1.8 percent to 2.6 percent.
Locations with the highest annual gains were villas in Al Reef 13.9 percent, Al Raha 13.3 percent and Saadiyat Island (11.7 percent), consultants ValuStrat said in its report.
However the citywide third quarter VPI saw residential rental values soften by 3.4 percent quarterly to reach similar levels of last year.
The report said that in the year to September, there were 1,853 units completed in nine projects, constituting 16 percent of total forecasted new build supply for the year.
The average citywide residential asking price per square foot continued its growth trajectory and was up 1.1 percent on a quarterly basis and 6.3 percent annually, the report added.
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