As the year 2023 has begun, the prices of real estate properties in Abu Dhabi have surged tremendously. The latest research carried out around the real estate market in Abu Dhabi for Q1 2023, shows that real estate prices have surged by seven percent from January to March.
In light of the above, I can say that it is almost not possible to find affordable real estate in Abu Dhabi. Still, if you try hard enough and do some research, you may be able to find communities offering apartments and houses at very affordable rates.
If you are interested to get your hands on real estate in a particular city at affordable rates, you can continue reading.
Beach Rotana Tourist Club Area
If you like to be within walking distance from the Abu Dhabi Mall, then Beach Rotana Tourist Club Area would be the right destination for you. It is a peaceful place with all kinds of modern facilities. You will find this community to be one of the most affordable areas to rent apartments.
The average rent for the apartments in Beach Rotana Tourist Club Area is AED 70,000. The lowest rent for an apartment in the community is AED 67,000 per year. The rent is for an entire year and the apartment consists of one bedroom.
Hamdan Street
If you prefer an apartment in a community that is based at the heart of the city, then you should go for Hamdan Street. As the community is centrally located, it means that it is ideal. This society is also known for having all kinds of facilities. You won’t regret considering this place as your destination for renting an apartment.
The community offers low 1 bedroom apartments at really low rental prices. The average rent at the 1 bedroom apartment in Hamdan Street is AED 68,000. The lowest rent in the community is also close to AED 68,000.
Al Ghadeer
Located within the Seih Sdeirah, which is a major investment zone, Al Ghadeer has become one of the most desired places in Abu Dhabi for renting apartments. The developers have strategically placed it between the border of Dubai and Abu Dhabi but it attracts people from Abu Dhabi.
Most of the people are attracted to this community because it offers apartments at very affordable rates. If you wish to rent an apartment in Al Ghadeer, it may be somewhere around AED 58,000. This is the lowest rent that you may have to pay in Al Ghadeer for 1 bedroom apartment.
Al Shamkha
Al Shamkha comes next in the list of communities known for being very reasonable for rents. The Abu Dhabi International Airport is very close to this community, which makes it one of the most demanded places in the city.
The property growth rate in the Al Shamkha community has been extremely fast. This is because of the high demand for the area among the people of Abu Dhabi. The starting rent demand in Al Shamkha for a fully furnished 1 bedroom apart/house is AED 65,000.
Al Reem Island
The next most attractive community in Abu Dhabi is Al Reem Island. It is quite popular among investors for being Abu Dhabi’s free zones. As the name suggests, Al Reem Island has been developed on an island but it is not man-made. Instead, the island is natural and has been made habitable in a very urban manner.
It is a waterfront development and by many developers, have been referred to as a world-class community. This community is located very close to Abu Dhabi Island and offers all kinds of units such as commercial, retail, and residential.
The average rent in Al Reem Island for a 1 bedroom unit is AED 85,000. However, the cheapest apartments with 1-bedroom units have been rented out for AED 79,000.
Conclusion
The majority of the communities currently known for being in really high demand in Abu Dhabi are based outside of the city. Still, people have realized that the property growth rate outside of Abu Dhabi has been extremely fast and it is the right time to make a move. If you are planning to start a family, then these are the right place where you can rent or own a house, and start living a life you have been working hard for.
