An increasing number of tenants are relocating from their villas on Abu Dhabi island as prices in the third quarter this year averaged 35 per cent more than some communities on the mainland, according to a new report.
Al Reef is becoming a popular location thanks to improved road access and affordable prices and as more stock is released over the coming months prices are expected to fall further, said the report by property management company Asteco.
Four-bedroom villas at Al Reef are now on the market for as low as Dh140,000 a year according to the Asteco Abu Dhabi Q3 2010 Report.
Golf Gardens, situated next to the Abu Dhabi Golf Club on the mainland, has bucked price trends over the past three months with rents increasing by up to 12 per cent for villas with pools due to a lack of availability and strong demand driven by a general lack of choice in the Abu Dhabi market for good quality villas with facilities. Indeed some villas now have waiting lists.
Emirates 24|7
