The Abu Dhabi skyline.
PHOTO BY ARCHIVE
DUBAI – Where in Abu Dhabi are the cheapest and most expensive areas to call home? A new survey has revealed where you can get more for your dirham this year, and which places are going to cost you more.
Where is the cheapest area to live? Mohammed Bin Zayed City, where rents have dropped at least 12 percent last year.
According to property portal Bayut.com, you can rent a studio there for Dh30,000 or a one-bedroom apartment for Dh47,000. If you’re looking for a two-bedroom apartment, it’s going to cost you Dh65,000.
The most expensive address would be the Corniche Area, which has the most expensive rentals among Abu Dhabi’s most popular areas. The average rent there is Dh80,000 for a studio apartment, while a one bedroom apartment costs Dh99,000.
But where are renters flocking? According to Bayut.com, Al Reem Island is the most in-demand area among tenants this year. Studios there costs Dh60,000, while a one bedroom apartment costs Dh82,000.
The area is also popular with property buyers. Last year, property prices there dipped by up to eight percent, with a studio costing Dh680,000, while a one bedroom apartment costs Dh1.1 million.
When it comes to villas, the most popular area for renters is Khalifa City A, with average prices of Dh155,000 for a three-bedroom villa.
Mohammed Bin Zayed City remains the mot affordable area for those looking to rent villas, with average yearly rent of Dh120,000 for three-bedroom villa.
The most expensive place to rent a villa is in Bain Al Jessrain, which will set you back Dh200,000 in yearly rent for a small property.
When it comes to apartment purchases, Al Ghadeer is the most affordable, with studios there selling at an average price of Dh500,000 for a studio apartment. Masdar City comes at a close second with an average price of Dh540,000 for a studio apartment.
Those looking to buy a villa will find that the most expensive address is Saadiyat Island where the average price for a three-bedroom villa isDh6.6 million. DAJ/Expat Media
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