Abu Dhabi’s Al Reef and Al Ghadeer areas are the most affordable places to purchase a villa or townhouse in the emirate, according to July transaction data from Propertyfinder. According to the data, Al Ghadeer, which sits on the border between Abu Dhabi and Dubai, is particularly good for households that commute to both emirates, while Al Reef is near Abu Dhabi’s airport and Yas Island.
The data shows that that a two-bedroom villa or townhouse in Al Ghadeer is AED 1.1 million, compared to 1.36 million in Al Reef. A three-bedroom, however, costs 1.6 million in Al Reef, compared to AED 1.4 million in Al Ghadeer.
A four-bedroom villa or townhouse in Al Reef was found to be AED 2.1 million, compared to AED 2.9 million in Al Raha Gardens or AED 3.2 million in Al Reem.
The two areas were also found to be the most affordable for those seeking apartments, with a studio in Al Ghadeer priced at AED 455,000, compared to AED 670,000 in Al Reef. Prices for one-bedrooms were found to be approximately 20 percent more.
One-bedroom apartments in Al Ghadeer were found to be priced at AED 675,000, compared to AED 799,000 in Al Reef and AED 1.45 million on Saadiyat Island. Al Ghadeer was also the most economical island for two-bedroom apartments at AED 850,000, compared to AED 950,000 in Al Reef.
For those looking to rent villas or townhouses, Al Reef was found to be the most economical area, with two-bedrooms renting for just under AED 100,000 in the area, which goes up to AED 120,000 for an extra bedroom in the same community. Four-bedroom rents in Al Reef were found to be AED 150,000, compared to AED 165,000 for five-bedrooms.
Meanwhile, renting a studio in Al Ghadeer costs, on average, AED 37,000, while upgrading to a one-bedroom in Al Reef would cost AED 65,000. The data also revealed that two-bedrooms are cheapest in Al Ghadeer at AED 65,000. Source: Arabian Business