Abu Dhabi Market Showing Very Interesting Cracks

Abu Dhabi Market Showing Very Interesting Cracks The property market in Abu Dhabi is showing some very interesting cracks at the moment. Rents are decreasing on Reem island and the Corniche but holding up almost everywhere else. Reem island is softening due to the supply coming on line there, there are very few units being delivered in Abu Dhabi but almost all of them are on Reem. The Corniche is suffering because of the oil layoffs, many of those employees were in apartments close to the Sheikh Khalifa Energy Complex.

For sales the market is buoyant on Reem Island where sellers are being competitive with their pricing in matching the offers coming in, leading to some ok price reductions. Elsewhere, however, the bid and offer prices are pretty far apart as the seller are reluctant to let their units go for market price and buyers shop for deals. Saadiyat, for example, is showing incredibly low transaction volumes due to differing ideas of the market value of units.