Q4 Market Report Abu Dhabi

Q42015

Abu Dhabi Residential Market Report

Abu Dhabi Residential Market Report - Q4 2015

© Cavendish Maxwell 2016 | www.cavendishmaxwell.com 2

• Price performance • Rent performance • Residential supply

Content

Sale price movement

Q3 2015 - Q4 2015

-1% -1%

Q4 2014 - Q4 2015

-3% -4%



-5%

-4%

-3%

-2%

-1%

0%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Al Ghadeer Al Raha Beach

Al Reef Downtown

Al Reem Island

Saadiyat Beach

Residences %

cha

nge

Aver

age

pric

e A

ED

/ sq

ft

Q3 2015 Q4 2015 QoQ % change 12 month change

-6%

-5%

-4%

-3%

-2%

-1%

0%

0

200

400

600

800

1,000

1,200

1,400

1,600

1,800

2,000

Al Raha Gardens Al Reef Saadiyat Beach Villas

% c

hang

e

Aver

age

pric

e

AED

/ sq

ft

Q3 2015 Q4 2015 QoQ % Change 12 month change

Price performance

Apartments price performance Villas price performance

Figure 1 Figure 2

Source: Property Monitor IndexQoQ % change Q3 2015 - Q4 2015Q4 2015Q3 2015 12 month % change Q4 2014 - Q4 2015

Villas

• Villa prices have also slightly declined at a rate of 1% during Q4 2015.

• During a 12 month period, villa prices declined by an average of 4%.

-1%

-3%

-4%

-3% -3%

-4%

-4%

-5%

-3%

-1% -1% -1% -1%-1% -1% -1%

Apartments

• Apartment prices have marginally declined by 1% in Q4 2015 across the investment zones covered within our report.

• In the last 12 months, apartment prices have dropped an average of 3%, a slower rate than that in Dubai.



Villas

• Average villa rents have remained stable in both Al Raha Gardens and Al Reef, whilst Saadiyat Beach Villa rents slightly increased by 1% as supply remains limited on the island.

• Four and five bedroom villa rents have increased whilst three bedroom villas have decreased.

Rent performance

Al Ghadeer

Al Raha Beach

Al Reef Downtown

Al Reem Island

Saadiyat Beach Residences

Al Raha Gardens

Al Reef

Saadiyat Beach Villas

2 bed 5 bed1 bed 4 bedStudio 3 bedRental rate

AED/sq ft/annum Q4 2015

Rental rate AED/sq ft/annum

Q4 2015

75

-

78

127

-

66

55

83

76

118

73

111

122

64

56

75

63

99

70

103

100

61

48

72

Figure 3 Figure 4 Source: Property Monitor IndexSource: Property Monitor Index

Apartments rent performance Villas rent performance

Apartments

• The change in apartment rents varied across different areas as average rents in locations such as Al Raha Beach and Al Reem Island remained stable in Q4 2015.

• Al Ghadeer rents have slightly increased by 1%, where rents in Al Reef Downtown and Saadiyat Beach Residences have dropped by approximately 1% and 2% respectively in Q4 2015.



• Approximately 2,700 units delivered in investment zones during 2015, mainly on Al Reem Island and Saadiyat Island.

2015 Completions

• 14,600 residential units scheduled to enter the Abu Dhabi investment zones from 2016 - 2018.

• Over 60% of that supply is scheduled to be delivered in 2017.

Pipeline

Residential supply

Miles Phillips BSc (Hons) MRICS ACIArbPartnerHead of Operations - UAE

M: +971 56 604 2750 E: [email protected]

Sofia Underabi BPropEc AAPI PartnerHead of Residential Valuation M: +971 50 435 6527 E: [email protected]

Dima Isshak BScResearch Manager


PROPERTY SERVICESMIDDLE EAST & AFRICA

Jay Grant MSc IRRV (Hons) Managing Partner


T: +971 (0) 4 453 9525 E: [email protected]

2205 Marina Plaza, Dubai Marina, P.O. Box 118624, Dubai, United Arab Emirates1006 Corniche Bakery Building, Al Firdous Street, Tourist Club Area, Abu Dhabi, United Arab Emirates

CavendishMaxwell.com

Residential Valuation

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Development Advisory and Real Estate Research

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Property Monitor

Also contact us for:

Jonathan Brown BSc (Hons) FRICSHead of Abu Dhabi Office M: +971 50 940 3540 E: [email protected]

Q4 Market Report Abu Dhabi

Documents

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