propertyfinder.ae, the UAE’s largest property portal, based on real-time data from listings on its website, has revealed a narrowing of the rental gap between Dubai and Abu Dhabi. With rents in Dubai on the rise and those in Abu Dhabi showing a slight decline since the start of the year, living in Abu Dhabi is becoming just as affordable as that in its neighbouring emirate. This industry dynamic alongside the recent relocation decree and quality housing units entering the market is making it possible for Abu Dhabi residents to enjoy similar standards of living to those they enjoyed in Dubai.

Market Price Live, propertyfinder.ae’s up-to-the-minute data centre, integrates real-time pricing information and user behaviour to provide average advertised property prices for sale and rent. Using this tool, users can discover the typical price for properties in each emirate with just a few clicks.

“The average price for renting an apartment in Abu Dhabi today is AED 143,000 while the same in Dubai is around AED 142,500. A villa, on the other hand, will cost you on average AED 246,600 to rent in Abu Dhabi and AED 256,000 in Dubai – negligible differences – and evidence of the change in rental pricing in the two cities,” said Renan Bourdeau, Managing Director, propertyfinder.ae.

However, property sale prices across the two emirates continue to show a disparity. On Market Price Live, the average price of an apartment and villa in Dubai stands at AED 2.6 million and AED 6.5 million respectively, while in Abu Dhabi the standard price for an apartment is AED 1.8 million and AED 3.1 million for a villa.

While the closing rental gap may be a positive sign for Abu Dhabi’s property market, it remains to be seen what the effects of the increasing stock yet to hit the capital will be. “It will be interesting to observe if the current growth in housing demand in Abu Dhabi driven by government spending and the relocation ruling will persist despite continued additions to supply over the next few years,” concluded Bourdeau.
 

We accept Guest Posts

Download the Dubai City Guide iPhone mobile app

DubaiCityGuide.com is owned and managed by Cyber Gear