Rents for budget apartments and villas are on the rise in Abu Dhabi but good deals are still available, depending on where you look.
Rent for budget villas and apartments rose by close to 8 per cent in the first half of 2023, according to the latest Bayut property report.
The cost of renting a luxury villa in the UAE capital has increased by 11 per cent, according to the same study.
Khalifa City A is an attractive option for those looking for a bargain, with the average annual rent for a studio at a pocket-friendly Dh28,000,with one-bedroom apartments at Dh42,000 and two-bedroom flats at Dh61,000.
The most popular areas to rent affordable apartments in Abu Dhabi, according to the Bayut report, are in Khalifa City A, Al Khalidiyah and Al Muroor.
If you are in the market for a luxury apartment, the most sought after are on Al Reem Island, Al Raha Beach and the Corniche area.
Those seeking affordable villas are most likely to search in Mohamed bin Zayed City, Khalifa City and Madinat Al Riyadh.
The most popular locations to own a luxury villa are in Al Raha Gardens, Yas Island and Al Mushrif.
"Abu Dhabi has plenty of coastlines to choose from, so it is not surprising that high-net-worth individuals (HNWIs) are drawn to the islands, such as Yas Island, Saadiyat Island and Al Reem Island," said Fibha Ahmed, sales director of Bayut and Dubizzle.
"These islands offer stunning views, luxurious amenities, and a vibrant lifestyle.
"On the other end of the market, Mohammad Bin Zayed City (MBZ City) has become a preferred location for renting affordable villas as its prices remain stable, due to its proximity to the center of Abu Dhabi and the Abu Dhabi International Airport.
"Khalifa City, on the other hand, which is similarly located in the outskirts, is the most popular for budget-friendly rental apartments and has seen a decline in property prices by 5.26 per cent, most likely due to more residents choosing to renew instead of moving."
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Where to rent in the capital
Khalifa City A
Khalifa City A, located on the main motorway to Dubai, is the most popular and cheapest area to rent in Abu Dhabi, according to the report. The area has developed into a sprawling residential area, dotted with schools and nurseries.
The going rate for two bedrooms in the area is Dh61,000.
The price for one-bedroom units in Khalifa City A is Dh42,000 while rents for studios tend to cost Dh28,000.
Al Khalidiya and Muroor
Al Khalidiya is also popular for reasonably priced units. One and two-bedroom properties start from Dh33,000 and Dh40,000, according to rental website Property Finder. Studio apartments tend to cost from Dh20,000 to Dh40,000.
One and two-bedroom apartments in Muroor are available from Dh32,000 and Dh42,000. The rent for studios starts from Dh23,000.
Al Reem Island
Al Reem Island, located 600m from the capital's city centre, is the most sought-after area for luxury apartments.
The mixed-use development, with its combination of luxury apartments, penthouses and villas, is one of Abu Dhabi’s fastest growing residential communities.
You can expect to rent a one-bedroom apartment from Dh45,000 upwards, while a two-bedroom can be rented from Dh54,000.
A three-bedroom townhouse can be rented from Dh130,000 upwards.
Al Raha Beach
Al Raha beach apartments and villas have attracted residents who want to live closer to the beach and far away from the hustle and bustle of the city centre.
A one-bedroom apartment starts from Dh40,000, while two-bedroom flats are available from about Dh63,000.
Three-bedroom townhouses start from Dh192,000.
Yas Island
Known as Abu Dhabi’s entertainment centre, Yas Island is home to Ferrari World, Yas Water World and Warner Brothers theme park. Many new residential communities have also sprung up, making it a quickly expanding community.
Rents for a two-bedroom apartment start at Dh72,000.
One-bedroom units are available from Dh50,000.
A four-bedroom house is available to rent from Dh255,000 in Yas, while five and six-bedroom homes cost from Dh270,000 and Dh340,000.
Countries recognising Palestine
France, UK, Canada, Australia, Portugal, Belgium, Malta, Luxembourg, San Marino and Andorra
Keane on …
Liverpool’s Uefa Champions League bid: “They’re great. With the attacking force they have, for me, they’re certainly one of the favourites. You look at the teams left in it - they’re capable of scoring against anybody at any given time. Defensively they’ve been good, so I don’t see any reason why they couldn’t go on and win it.”
Mohamed Salah’s debut campaign at Anfield: “Unbelievable. He’s been phenomenal. You can name the front three, but for him on a personal level, he’s been unreal. He’s been great to watch and hopefully he can continue now until the end of the season - which I’m sure he will, because he’s been in fine form. He’s been incredible this season.”
Zlatan Ibrahimovic’s instant impact at former club LA Galaxy: “Brilliant. It’s been a great start for him and for the club. They were crying out for another big name there. They were lacking that, for the prestige of LA Galaxy. And now they have one of the finest stars. I hope they can go win something this year.”
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Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Should late investors consider cryptocurrencies?
Wealth managers recommend late investors to have a balanced portfolio that typically includes traditional assets such as cash, government and corporate bonds, equities, commodities and commercial property.
They do not usually recommend investing in Bitcoin or other cryptocurrencies due to the risk and volatility associated with them.
“It has produced eye-watering returns for some, whereas others have lost substantially as this has all depended purely on timing and when the buy-in was. If someone still has about 20 to 25 years until retirement, there isn’t any need to take such risks,” Rupert Connor of Abacus Financial Consultant says.
He adds that if a person is interested in owning a business or growing a property portfolio to increase their retirement income, this can be encouraged provided they keep in mind the overall risk profile of these assets.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Fund-raising tips for start-ups
Develop an innovative business concept
Have the ability to differentiate yourself from competitors
Put in place a business continuity plan after Covid-19
Prepare for the worst-case scenario (further lockdowns, long wait for a vaccine, etc.)
Have enough cash to stay afloat for the next 12 to 18 months
Be creative and innovative to reduce expenses
Be prepared to use Covid-19 as an opportunity for your business
* Tips from Jassim Al Marzooqi and Walid Hanna
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The specs: 2018 Nissan 370Z Nismo
The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
Fuel consumption, combined: 10.5L / 100km
Poacher
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THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
Mohammed bin Zayed Majlis
Fixtures and results:
Wed, Aug 29:
- Malaysia bt Hong Kong by 3 wickets
- Oman bt Nepal by 7 wickets
- UAE bt Singapore by 215 runs
Thu, Aug 30: UAE v Nepal; Hong Kong v Singapore; Malaysia v Oman
Sat, Sep 1: UAE v Hong Kong; Oman v Singapore; Malaysia v Nepal
Sun, Sep 2: Hong Kong v Oman; Malaysia v UAE; Nepal v Singapore
Tue, Sep 4: Malaysia v Singapore; UAE v Oman; Nepal v Hong Kong
Thu, Sep 6: Final
Recent winners
2002 Giselle Khoury (Colombia)
2004 Nathalie Nasralla (France)
2005 Catherine Abboud (Oceania)
2007 Grace Bijjani (Mexico)
2008 Carina El-Keddissi (Brazil)
2009 Sara Mansour (Brazil)
2010 Daniella Rahme (Australia)
2011 Maria Farah (Canada)
2012 Cynthia Moukarzel (Kuwait)
2013 Layla Yarak (Australia)
2014 Lia Saad (UAE)
2015 Cynthia Farah (Australia)
2016 Yosmely Massaad (Venezuela)
2017 Dima Safi (Ivory Coast)
2018 Rachel Younan (Australia)
Meatless Days
Sara Suleri, with an introduction by Kamila Shamsie
Penguin
If you go...
Etihad Airways flies from Abu Dhabi to Kuala Lumpur, from about Dh3,600. Air Asia currently flies from Kuala Lumpur to Terengganu, with Berjaya Hotels & Resorts planning to launch direct chartered flights to Redang Island in the near future. Rooms at The Taaras Beach and Spa Resort start from 680RM (Dh597).
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
