Property News: Abu Dhabi News

Mortgage applications in the UAE increased by 78 per cent over the year to April and enquiries rose by 59 per cent in the same period, a sign that end users are increasingly seeking long-term solutions for their housing needs, according to data from consultancy Mortgage Finder.

The average size of a home loan, however, decreased from Dh1.67 million in May 2018 to Dh1.31m in the same month this year, reflecting the relatively weak property market, said the consultancy, which is part … Read more ›

The local real estate has been the subject of much conjecture in recent months. But with local Purchasing Manager Indexes screaming an economic recovery this autumn, and US interest rates slated to fall pointing to lower-cost dirham mortgages, wary buyers risk missing the very bottom of the five-year bear market in UAE residential property.

The latest data from Reidin, a global real estate information company, showed 3,200 off-plan completions in the first five months of 2019, compared with 13,700 for the … Read more ›

The buyer of a six-bedroom villa on Saadiyat Island became the first foreigner to receive a freehold title deed from Abu Dhabi Municipality on Thursday, according to the real estate consultancy Henry Wiltshire International.

Long-term Abu Dhabi resident Sami Ghandour, 69, an engineer born in Jordan but originally from Palestine, was handed the document by staff at the government department after completing the purchase of his new home in the Hidd Al Saadiyat development, for which he paid Dh10.8 million including … Read more ›

UAE residents spend more time researching, looking through property listings and viewing homes than people in nine other countries, according to a new survey from HSBC.

The survey, conducted by Europe’s biggest bank by assets in November and December of last year, polled 11,932 adults aged 21 and over in the US, Canada, Mexico, France, the UK, Australia, Malaysia, Singapore, Taiwan and the UAE, which included 1,058 participants.

People in the UAE spend an average of 6.6 hours per week “window shopping” … Read more ›

For the last two weeks, Dubai resident Melanie Swan has been looking for a home to rent. She has a clear idea about what she wants: A three-bedroom villa in a quiet and peaceful community, preferably in the Ranches or the areas around it. Interestingly, her search for her dream home has thrown up challenges along the way – from fake listings to colluding agents, to time wasted by landlords who have listed their properties with multiple brokers, creating a … Read more ›

Abu Dhabi’s government has made changes to real estate laws allowing foreigners to own freehold property in designated zones to increase foreign direct investment and boost the economy.

“The modernisation of the real estate law reflects the government vision to support and develop the business environment in Abu Dhabi, along with the development of investor services and procedures,” said Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

Until the changes, ownership of property … Read more ›