Luxury home sales set to drive buoyant Abu Dhabi in 2015
April 03, 2015 - Abu Dhabi
The property agency said luxury homes accounted for more than a quarter (27%) of total sales transactions amounting to AED8 billion ($2.17 billion) in 2014, adding that the trend is likely to continue.
"There are over 200,000 residential units in Abu Dhabi and nearly 5,000 are expected to be delivered in 2015. There are several locations in Abu Dhabi but places like Al Raha Beach in particular with the upcoming world class infrastructure facilities will surely be part of an investor's checklist," said Simon Gray, managing director, Chestertons MENA.
"Furnished apartments are popular and demand is high currently in the residential market. Prices, however, are stabilising with villa prices remaining the same during the last quarter," he said in a statement.
"The luxury segment is always in demand in the UAE due to the high-level of affluence in the region. Abu Dhabi has now become a popular investment destination with this category of investors due to lifestyle choices it offers today. Luxury segment is very popular with cash buyers, who have invested significantly in these projects particularly off-plan properties."
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