Abu Dhabi Residential Market Report
Q4
2015
Abu Dhabi Residential Market Report - Q4 2015
Content • Price performance • Rent performance • Residential supply
Sale price movement Q3 2015 - Q4 2015
-1%
-1%
Q4 2014 - Q4 2015
-3% © Cavendish Maxwell 2016 | www.cavendishmaxwell.com
-4% 2
Abu Dhabi Residential Market Report - Q4 2015
Price performance Apartments
Villas
• Apartment prices have marginally declined by 1% in Q4 2015 across the investment zones covered within our report.
• Villa prices have also slightly declined at a rate of 1% during Q4 2015. • During a 12 month period, villa prices declined by an average of 4%.
• In the last 12 months, apartment prices have dropped an average of 3%, a slower rate than that in Dubai.
Figure 1
Figure 2
Apartments price performance
Villas price performance
1,800
2,000
0%
1,800 -1%
1,400
-1%
-1%
-1%
-1%
1,600
-1%
1,000 800
-3%
-3%
-3%
-3%
600
Average price AED / sq ft
-2%
% change
Average price AED / sq ft
-1%
-1%
1,400
1,200
-4%
-4%
-4%
200
-1%
-2%
1,200 -3%
1,000
-3%
800 600
400
-4%
400
-4%
-5%
-5%
200
Al Ghadeer
Q3 2015
Q3 2015 © Cavendish Maxwell 2016 | www.cavendishmaxwell.com
-1%
% change
1,600
0
0%
Al Raha Beach
Q4 2015
Q4 2015
Al Reef Downtown
Al Reem Island
QoQ % change
Saadiyat Beach Residences
-5%
0
Al Raha Gardens
Al Reef
Saadiyat Beach Villas
-6%
12 month change
QoQ % change Q3 2015 - Q4 2015
Q3 2015 QoQ % Change Source: Property 12 month change Monitor Index 12 month % change Q4 Q42015 2014 - Q4 2015
3
Abu Dhabi Residential Market Report - Q4 2015
Rent performance Apartments
Villas
• The change in apartment rents varied across different areas as average rents in locations such as Al Raha Beach and Al Reem Island remained stable in Q4 2015.
• Average villa rents have remained stable in both Al Raha Gardens and Al Reef, whilst Saadiyat Beach Villa rents slightly increased by 1% as supply remains limited on the island.
• Al Ghadeer rents have slightly increased by 1%, where rents in Al Reef Downtown and Saadiyat Beach Residences have dropped by approximately 1% and 2% respectively in Q4 2015.
Apartments rent performance Rental rate AED/sq ft/annum Q4 2015
1 bed
2 bed
75
76
63
-
118
Al Reef Downtown
78
Al Reem Island
Al Raha Beach
Saadiyat Beach Residences Figure 3
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com
Villas rent performance Studio
Al Ghadeer
• Four and five bedroom villa rents have increased whilst three bedroom villas have decreased.
Rental rate AED/sq ft/annum Q4 2015
3 bed
4 bed
5 bed
Al Raha Gardens
66
64
61
99
Al Reef
55
56
48
73
70
Saadiyat Beach Villas
83
75
72
127
111
103
-
122
100
Source: Property Monitor Index
Figure 4
Source: Property Monitor Index
4
Abu Dhabi Residential Market Report - Q4 2015
Residential supply 2015 Completions • Approximately 2,700 units delivered in investment zones during 2015, mainly on Al Reem Island and Saadiyat Island.
Pipeline • 14,600 residential units scheduled to enter the Abu Dhabi investment zones from 2016 - 2018. • Over 60% of that supply is scheduled to be delivered in 2017.
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com
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