Abu Dhabi residential sales gained pace in Q3: Chestertons

  • Date: 25-Oct-2020
  • Source: Arabian Industry
  • Sector:Real Estate
  • Country:UAE
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Abu Dhabi residential sales gained pace in Q3: Chestertons

Abu Dhabi's real estate market saw a rise in transactions over Q3 2020, with market activity continuing to gain pace following the easing of social distancing measures in May, according to residential property specialist Chestertons' Abu Dhabi Market Report Q3 2020.Although apartment and villa sales prices continued to fall on average, the rate slowed to 0.6% and 0.2%, respectively. On an annual basis, average apartment prices fell by 4.8%, with villas seeing a decline of 4.7%.Commenting on this, head of strategic consultancy at Chestertons MENA, Chris Hobden, said: “Abu Dhabi has enjoyed a more active third quarter, with both sales prices and rental rates showing greater stability. COVID-19's economic impact will undoubtedly continue to weigh on rental rates short-term, with improvements in