Rental prices in Al Reem Island plunge 7.42% in first 3 quarters, reports Bayut.com

Nov. 22, 2013 - PRLog -- The stabilizing rental market of Abu Dhabi is driven by many factors including the government making it compulsory for its employees to pick the capital as their prime residence. It is also true that spiking rents in Dubai too has triggered the demand of apartments in other states including Abu Dhabi since Abu Dhabi offers various employment options to the eligible expats with an added benefit of somewhat lower rentals. The analysts at Bayut.com notice clear effects of the mentioned factors on prime locations of Abu Dhabi including Al Reem Island. According to portal’s stats, average rents of apartments in Al Reem Island have increased by 7.42% during first 3 quarters of the year.

The rental price hike seen for Al Reem Apartments is different for different bed groups with an overall upward swing seen in first 3 quarters of the year. Among all apartments for rent in Al Reem Island http://www.bayut.com/abu_dhabi_al_reem_island_property/apartments-rent-6232-1.html, the highest hike is seen for 2-bedroom apartments i.e. 15.08% during the year so far. Bayut.com’s analysts also noticed that Q3 has been the best quarter of the year for 1 and 2 bedroom apartments as it brought along an average rental spike of 12.74%. For 3 & 4 bedroom apartments however, rental price drop of 0.48% and 8.72% respectively was noticed in Q3. The stats of Q2 showed a different picture where rentals of studios and 1 bedroom apartment dropped by 9.25 and 11.56% while those of 2, 3 and 4 bedroom increased by 4.29%, 9.73% and 25.63% respectively.

During the year so far, rents of 2 and 3 bedroom apartments have increased by 15.08% 12.58%. For 4+ bedroom units, first 3 quarters of the year witnessed a rental price hike of 8.56%. Unlike family apartments in many known localities of Dubai, those in Al Reem Island Abu Dhabi enjoy a consist demand. This is evident from rising rental price of 2, 3 and 4 bedroom apartments recorded in the first 3 quarters of the year. With such impressive figures, bigger apartments in Al Reem Island deserve to become the first choice of investors who are looking for regularly rising monthly income as well as a sound capital appreciation of their property.

For more information please visit: http://www.bayut.com