Abu Dhabi real estate transactions and mortgages increased by 22% in terms of value, to record 19.2 billion dirhams in the first quarter of 2020. According to Al-Bayan, the report issued by Chestertence on the reality of the real estate sector in Abu Dhabi in the first quarter of 2020, that the market witnessed a kind of slowdown in the level of sales and rents. Sales in the plan in some vital areas of the capital, such as Al Reem Island, Saadiyat Island, and Al Reef region combined, accounted for more than half of the total value of real estate transactions, driven by the facilities provided by the developers, which include: Flexible payment plans, as well as the lease-to-own program launched by Aldar Properties, which has attracted the interest of potential investors.
The capital market continued to correct, albeit at a slower pace during the first quarter. Average apartment sales fell by 1.2% compared to 1.8% for villas on a quarterly basis, while the rental market witnessed a decline of 1% for apartments and only 0.6% for villas for the first quarter.
