Abu Dhabi sees higher real estate transactions in Q3-20
- Date: 21-Oct-2020
- Source: Mubasher
- Sector:Real Estate
- Country:uae-top-picks
Abu Dhabi sees higher real estate transactions in Q3-20
UAE - Mubasher: Abu Dhabi witnessed an increase in the number of real estate transactions during the third quarter (Q3) of 2020 following the easing of restrictions imposed amid the coronavirus (COVID-19) outbreak.
The average apartment and villa sales prices decreased by 4.8% and 4.7% year-on-year (YoY), respectively, in Q3-20, the Chestertons' Observer: Abu Dhabi Market Report Q3-20.
On a quarterly basis, the average apartment and villa sales prices inched down by 0.6% and 0.2%, respectively.
Moreover, Abu Dhabi saw a decline of 1% in the average apartment rental rate and 0.5% in the villa rate during the July-September period of 2020.
The Head of Strategic Consultancy at Chestertons MENA, Chris Hobden, said: "COVID-19's economic impact will undoubtedly