MBZ City is Abu Dhabi’s most affordable apartment community, according to a recent report by Propertyfinder Group.
A press release said that properties in Abu Dhabi found ‘a mixed bag’ in terms of price trends between October 2016 and October 2017.
Some communities saw big price jumps, while others were relatively stable.
The report showed that MBZ City is Abu Dhabi’s most affordable apartment community, ‘where asking rents are AED 55 per sq foot’.
Lukman Hajje, chief commercial officer of Propertyfinder Group, said, “Almost half of the tracked apartment communities experienced an increase in their asking rents over the past six months.”
Mohamed Bin Zayed City saw an increase of 13.8%, while Al Mushrif and Electra Street saw an increase of 12.8% and 8% respectively.
Meanwhile, rents dropped by 8% in the Corniche Area and Al Ghadeer, 7% in Al Raha Beach, and 5% in Al Reem Island and Al Bateen.
The press release said that asking prices to rent a villa in Abu Dhabi continued to see a decline.
Al Salam Street saw a drop of 12% and Al Reef saw a drop of 8%.
Al Raha golf Gardens was the only villa community to see an increase of 3%.
Mohamed Bin Zayed City was the least expensive place to rent a villa in Abu Dhabi, with Khalifa City and Hydra Village not far behind.
Meanwhile, the most expensive city to rent a villa is Saadiyat Island.