Abu Dhabi sees higher real estate transactions in Q3-20

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