Bayut.com’s research on the half-yearly stats of rental property in Al Reef Abu Dhabi unveiled that the locality showed stable growth in the rental prices. The following press release explains the related facts.
Al Reef savours the honour of being the first ever community in Abu Dhabi where overseas investors or expatriates can purchase their properties either to live in or let out. There is an overall recovery in the realty sector of the UAE after the sector started resurfacing from property crisis of 2008. Bayut.com, a property portal of the UAE, observes market fluctuations in the different localities. And according to the research conducted by the property analysts of Bayut, the rental prices of both apartments and villas in Al Reef displayed a balanced growth from the beginning of 2013, which is in fact favourable for the community itself and for the tenants as well.
Average rental price of 4+ bedroom villas in Al Reef was noted down to be AED 153,566 in January 2013. This figure spiked to AED 156,904 in the very next month i.e. February 2013 and this hike gave a spark of about 2.17% in the rental prices. In March 2013, Bayut.com, estimated the average rental figure of AED 157,469 for 4+ bedroom villas, which is also a slight increase in average rental value. Similarly sale prices of villas in Al Reef also posted stable renal prices on board.
In April 2013, villas for rent in Al Reef experienced a further hike and according to Bayut’s research, the rental prices up surged to AED 163,686 in April 2013, i.e. an increase of 4% as compared to the average rental price in March 2013. The community then witnessed a further upsurge by the mid of 2013. Rental prices spiked to AED 164,773 in June 2013. And on the whole there was an uplift of 7.30% in the rental values from January 2013 to June 2013.
This research provides an imprint that amongst other villas for rent in Abu Dhabi, the villas in Al Reef indeed showed poised growth, which is an evidence of recovery of the sector.
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This press release is also published on: http://www.briefingwire.com/pr/al-reef-properties-exhibit-growth-in-property-prices-reports-bayutcom