Property News: Abu Dhabi News

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 ›

The softening rental market in Abu Dhabi has granted its tenants more bargaining powers. House prices are now more aligned with salaries and housing allowances and landlords are being flexible in terms of a number of cheques they are willing to accept. “We believe that the market is stabilizing for tenants in Abu Dhabi,” says Kika Pavese, General Manager, MD Real Estate. Sameer Barakat, Executive Director, Provis also agrees that the higher level of availability of properties is attracting tenants … Read more ›

Two old friends contacted me for a chat about buying property this week. This time, however, they were actually doing it and not just talking about it.

The conversation was more along the lines of whether you should ever issue a cheque before signing a MoU (no, is my answer) than theorising about the prospect of a recovery in house prices. However, this was my first experience of what could potentially turn into a Spring recovery.

Perhaps I see this as more … Read more ›

Abu Dhabi has introduced a Dh500 million campaign to promote the emirate as a global tourist attraction.

The three-year project will be aimed at countries such as China, Saudi Arabia, India and Russia, along with the domestic market as Abu Dhabi makes a sustained push to attract more visitors.

The campaign was revealed on Tuesday by Saif Ghobash, undersecretary at the Department of Culture and Tourism Abu Dhabi.

Mr Ghobash confirmed that major Saadiyat Island projects including the Zayed National Museum and the … Read more ›