About Abu Dhabi - Real Estate in Abu Dhabi
Abu Dhabi opened its real estate market for the foreign capital with the so called freehold projects. With this foreign citizens and residents were given the chance to own property in this emirate. The first projects will be completed in 2009, so this will be the first opportunity for foreigners to own a finished property.
The population of Abu Dhabi increases continuously, the city currently has approximately 2 million residents. According to analysts the city's population may double in some years if the trend continues.
If somebody invests now in Abu Dhabi, by the end of the year the investor can own a finished apartement, which he/she can rent out with a 5-7 years of return. Past years experiences showed that there is a price increase directly before handover, so it is worth investing in it for resale purposes.
In Abu Dhabi currently there is a huge housing shortage, which are shown by the increase of rental fees: the rental fee of a good quality flat increased by 87% since Q3 2007. The rental fee of a one-, two- and three-bedroom flat increased in the last year by 79%, 100% and 82%. There is also a huge shortage in office spaces. There were more than 10.000 compnies founded in this emirate in 2008. Many firms use villas for there office needs, and existing companies can not expand because of the saturation.