Property News: Buying

Residential sales and rental prices fell in most neighbourhoods across Abu Dhabi in the first six months of 2018, albeit at a slower pace witnessed in previous months as market sentiment improves on the back of rising oil prices, according to a new report published on Thursday.

Average apartment rental prices were “modest” for the most part, with year-on-year decreases ranging from around 3 to 9 per cent in different locations during the first half of the year, according to real … Read more ›

Leading property portal Bayut have awarded Henry Wiltshire International the coveted ‘Agency of the Month’ award for best Abu Dhabi real estate agency.

Bayut also awarded ‘Real Estate Agent of the Month’ to Henry Wiltshire’s agent Ragna Tietjen who is a leasing consultant specialising in the Corniche and Maryah Island areas of Abu Dhabi.

Abu Dhabi residents could see an increase in municipality fees under new plans that have been outlined by the emirate’s Executive Council. The move would only affect non-Emiratis and could help to boost property sales, as measures have been introduced to encourage home ownership in the past few months.

A circular from the Executive Council, which was seen by The National, has set out plans to increase the fee from 3 per cent for residential properties only.

The extent of the increase is not yet clear, … Read more ›

The UAE’s planned introduction of long-term residency visas to investors and specialists will be a boon to the UAE real estate market, stimulating the nation’s fledgling owner-occupier market.

“Over the past few years, we have seen the UAE move towards a less transient workforce and long-term visas would boost this trend, resulting in greater opportunities for local businesses and encouraging longer-term investment,” said Alexis Waller, Dubai-based partner and head of real estate at law firm Clyde & Co. The changes are … Read more ›

Homeowners in the UAE may see some relief in their monthly payments if a recent slide in the interbank rate – used as a benchmark for most mortgages in the country – continues.

The 4.4 per cent drop in the benchmark three-month Emirates Interbank Offered Rate (Eibor) to 1.38 per cent this week may also give the sluggish housing market a fillip. Last year, that measure rose by 39.9 per cent.

“The fundamentals of the housing market in the UAE look … Read more ›

Abu Dhabi-based real estate developer Bloom Holding has announced that enabling works has started within Park View, a mixed-use development taking shape in the university neighbourhood of Saadiyat.

Bloom said in a statement that it has awarded the enabling works contract to Gulf Foundation which is expected to complete the works by April while all main works on the project are set for completion by September 2017.

The announcement follows Bloom Holding’s launch … Read more ›