The Latest Trends in Abu Dhabi Property Market

1. The Latest Trends in Abu Dhabi Property Market There seems to be very little difference between Abu Dhabi and Dubai in terms of the availability of real estate properties. Given the availability of properties, it will also not be wrong to assume that there is no difference between the two emirates. The best thing about investing in a property in Abu Dhabi is the economic stability of the emirate. In addition, the recent amendments in freehold ownerships have brought several opportunities for foreign investors who can invest in freehold properties in Abu Dhabi investment zones, like Al Raha Beach, Al Reem Island, Yas Island and Saadiyat Island. Abu Dhabi has an ambitious economic vision for 2030. According to the vision, the dependence on the oil & gas sectors will be reduced, and increase the focus on different sectors, like tourism, infrastructure, health and education. The latest real estate projects in Abu Dhabi follow the vision. As such, investors get many options in investing in a property in the emirate. Freehold and Leasehold Property in Abu Dhabi Before proceeding with the article, let us brush up on our knowledge of the concept of freehold and leasehold ownership of properties in Abu Dhabi. In the emirate, property ownership is divided into freehold and leasehold. Freehold ownership refers to the investor having direct ownership of the land on which the property stands and the property. Leasehold ownership refers to the ownership of the property for a fixed period. Notably, the ownership does not extend to the property. The maximum term of the ownership is 99 years. The ownership of the entire property goes back to the freeholder after the expiry of the lease. The freehold property law allows foreigners to own freehold property in dedicated investment zones in Abu Dhabi. Types of Apartments in Abu Dhabi Investors looking for apartments for sale in Abu Dhabi can have various options, from off- plan to readymade apartments in Abu Dhabi.

2. Off-plan apartments are those residential properties developers sell during the construction phase through a feasible payment plan. These properties are affordable to investors as compared to readymade flats. As such, investors get encouragement to invest in such a property. You will find such properties in Yas Island, Al Reem Island and Saadiyat Island. If you want to buy apartment in Abu Dhabi, you will get many types of apartments in different configurations–studio, 1, 2, 3 and 4-bedroom units. In addition, you also get larger 5-bedroom apartments for sale. The sales price range hovers within AED 300k to AED 21M. Most apartments in Abu Dhabi have essential amenities and facilities, like a laundry room, a maid’s room, and a terrace or a balcony. In addition, you will find shared amenities in apartment buildings in Abu Dhabi, such as a gym, swimming pool and dedicated parking space. In some apartment buildings, there are more amenities, such as restaurants, coffee shops or supermarkets on the ground floor. You can also find duplexes and luxury penthouses in Abu Dhabi apart from the standard apartments. The popular investment areas for foreign investors in Abu Dhabi are Yas Island, Al Raha Beach , Al Maryah Island, and Al Reem Island. If you are looking for affordable communities in the emirate to buy an apartment, you can consider Al Reef and Masdar City. There are other freehold areas of the emirate Saadiyat Island, Lulu Island and Seih Al Sedirah. If you like to invest in an apartment near the sea beach, you can look for apartments on Yas Island, Al Raha Beach and Al Reem Island. Conclusion If you are under the impression that finding a residential apartment in Abu Dhabi is difficult, ditch the idea. You can have many options for investing in an apartment in the emirate. Interestingly, the sales prices are also in the affordable range. However, remember that the norms associated with the leasehold and freehold areas can change in the future.