Abu Dhabi Central: This is one of the most lively areas of the city and close to a number of hotspots. Transportation from there to almost anywhere is easy. In a recent report, Asteco found that rentals for high-end properties in this area dropped by 5 per cent while further down the value chain, the decline was by 6 per cent compared to the second quarter last year.Image Credit: Gulf News Archive
Abu Dhabi: 9 places where rents have dropped in the capital
Rents all over the UAE’s capital have dropped and we break down exactly where to look for
by Nilanjana Javed, Senior News EditorAbu Dhabi Corniche: Located right alongside the main beach, this is one of the most naturally attractive areas to stay in the city. In fact, the Corniche is one of a handful of areas that offers waterfront living in residential towers. There has been a 15 per cent drop in rents this year against 2019, with the most notable declines being for high-end apartments.Image Credit:Khalidiyah: A spot where old meets new, its central location makes this suburb one of the most popular areas for families looking to live right in the heart of Abu Dhabi city. This neighbourhood saw a drop of more than 3 per cent in 2020 as compared to 2019 from the second quarter of last year.Image Credit: Gulf News ArchiveAl Raha: From waterfront residences to swathes of beachfront, the Al Raha development in has quickly become one of the most popular choices in the Capital. The area is linked via a network of paths, and residents can walk or cycle from one to another along the water’s edge. Rents have dropped here by at least 2 per cent from January to June 2020.Image Credit: Gulf News ArchiveMarina Square: One of the biggest benefits of living in Marina Square on Al Reem Island is that residents can enjoy island living while also being fairly close to the heart of the city. The area witnessed a rental dip of 10 per cent for apartments since last year.Image Credit: Gulf News ArchiveShams Abu Dhabi: Also on Al Reem Island, this development creates a perfect environment for relaxation and work. Average rents are around Dh50,000 for a studio and Dh70,000 for a one-bedroom. Some two-bedroom apartments are available for around Dh110,000.Image Credit: Gulf News ArchiveSaadiyat Island: Known to be the best location to stay for anyone who loves to indulge in a bit of culture, as it houses Grand Mosque South Gate and the Louvre Abu Dhabi. Rents have dropped by at least 9 per cent since last year.Image Credit: Gulf News ArchiveYas Island: Home to a Warner Bros. Park and the Yas Waterworld Park, as well as one of the most popular mall destinations in the city. The average drop in apartment lease rates this year is 5 per cent.Image Credit: APMohammed Bin Zayed City: Quiet and calm, the Mohammed Bin Zayed City is one of the newest family-friendly developments in the city. The residents get to enjoy a peaceful environment far removed from the city’s bustle. Rents have dropped by at least 7 per cent from January to June 2020.Image Credit: Gulf News Archive
