Online searches for Al Reem Island, one of the few areas where foreigners can purchase Abu Dhabi leasehold property, have risen 28% in the last year to top spot, says Propertyfinder.ae
The most popular target for Abu Dhabi overseas property buyers is Al Reem Island – and it is growing in popularity, new data shows.
More than a quarter of searches (28.14%) on the Propertyfinder.ae website was for Al Reem Island, up 30% on the first three months of 2013.
Other developments that have attracted growing attention is Saadiyat Island, which is up by half since Quarter 2, 2013, to 8.4% overall and Hydra Village, up 60% to 4.95% of all searches.
Deputy CEO, Renan Bourdeau, says, “The upswing in Abu Dhabi’s property prices seems to continue with a 15% climb in real estate values so far in 2014. With news of the emirate awarding US$346billion in various sectors between 2013 and 2020, we are seeing the launch of numerous lifestyle projects. Expo 2020 is expected to be a growth accelerator, prices per square foot are rising and the removal of the rental cap is making the market more attractive to investors hoping to achieve higher rents.
“The recent decision by Abu Dhabi Municipality …read more