Al Reem Island has been named as the most in-demand area of Abu Dhabi for both renting and buying apartments in 2017.
In a report by real estate portal Bayut.com, it was also revealed that rents on Al Reem Island have fallen by about 14 percent during the past 12 months despite its popularity.
It added that Khalifa City A was the most popular for villa rentals while Al Reef dominated the end users' interest in villa buying.
Bayut also said that yields remained high in the emirate at 6.7 percent for apartments and 6.6 percent for villas.
The report said that Mohammed Bin Zayed City is the most affordable area for apartment rents, with average values for one-beds down by 12 percent to AED47,000.
By contrast, the Corniche area was named as the most expensive area for apartment rents at an average of AED99,000 for one-beds, also down 12 percent compared to 2016.
The Bayut report said that off-plan sales prices of apartments of Al Reem Island has seen a downward trend because of an increased supply of listings.
Conversely, Saadiyat Island has a smaller inventory of off-plan apartments, increasing demand and raising the average sales price to AED1.9 million.For all the latest UAE news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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