Chestertons, the international property agency established in 1805 stated that the Abu Dhabi property market will continue to remain buoyant in 2015 due to its strong growth potential and rise in demand for luxury properties.

“There are over 200,000 residential units in Abu Dhabi and nearly 5,000 are expected to be delivered in 2015. There are several locations in Abu Dhabi but places like Al Raha Beach in particular with the upcoming world class infrastructure facilities will surely be part of an investor’s checklist. Furnished apartments are popular and demand is high currently in the residential market.  Prices, however, are stabilizing with villa prices remaining the same during the last quarter. Reem Island is also a potential place to invest as the surrounding infrastructure development is taking shape,” said Simon Gray, Managing Director, Chestertons MENA.

“During 2014, luxury properties have accounted for 27% of total sales transactions amounting to AED 8 billion in the ready property market. There has been a substantial investor interest for luxury properties in the UAE especially Dubai and Abu Dhabi.  Over the last few years Abu Dhabi has always featured among the top investment destinations with regard to luxury properties. Investors are keen on parking their funds with reputed developers who have completed their projects or are on the verge of completion. There is also a tremendous amount of interest in off-plan luxury properties,” said Robin Teh, Country Manager, Chestertons MENA.

Chestertons with its Middle Eastern headquarters in Dubai offers a full range of property services, including residential and commercial sales and leasing together with professional property valuation and property management services.

“We are gearing up to tap into this growth market as many people choose to make Abu Dhabi their home. We decided to expand in the capital to address this growing demand for quality properties. We aim to further consolidate our position as the leading international property consultancy in the market, combining our long-standing global industry knowledge and the in-depth expertise of our local staff,” added Simon.

“The luxury segment is always in demand in the UAE due to the high-level of affluence in the region. Abu Dhabi has now become a popular investment destination with this category of investors due to lifestyle choices it offers today. Luxury segment is very popular with cash buyers, who have invested significantly in these projects particularly off-plan properties. Another reason for rise in demand of luxury properties is the unrest in the Middle East region and the safe haven status of the UAE.  Stock for luxury properties is absorbed quickly by these investors,” concluded Robin.

Chesterton MENA has a very active international sales division, based in Dubai, specializing in the sale of prime, Central London residential apartments and houses to investors from across the entire MENA region.

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