Living in Abu Dhabi on a budget is what you have in mind? If that is the case, you are reading the right blog. Renting or buying affordable properties is what everyone looks for. Nevertheless, Abu Dhabi is a beautiful and modern metropolitan city that attracts many people worldwide. The breathtaking sea links to eye-catching skyscrapers makes living in the city more joyous.
If you're considering moving to Abu Dhabi, In that case Rental Properties in Abu Dhabi is a good option to go with.The luxurious lifestyle of Abu Dhabi might give you the impression that you need a lot of money to maintain that lifestyle, so living on a budget is something next to possible with renting a property.
According to Asteco Abu Dhabi Real Estate Q1 2017 Report, one of the most affordable apartments in the city are located in places such as the Tourist Club area, Hydra Village, Khalifa City or even Al Ghadeer. The report describes a 2% decrease in the rental rates compared to Q1 2022.
Source: Asteco Abu Dhabi Real Estate Q1 2017 Report
Buying vs. renting in Abu Dhabi
Abu Dhabi, the capital of the United Arab Emirates, attracts people from across the world each year. The emirate offers great options for both renters and would-be buyers. As such, the debate around renting or buying is one that comes up often. Bazaroo brings the most diverse and vibrant marketplace to your fingertips with the motive of buying & selling with a smile.
The survey of real estate analysts' views, states that prices of residential properties in Dubai are set to rise by 5% in 2022, double the 2.5% increase predicted three months ago.
That comes to the conclusion that expats generally prefer Property For Rent rather than buying a property. For the prospective tenant though, the question always comes in
“Which is more cost-effective?
“Am I going to save more money by buying or renting?”
This really tweaks on two factors –
- The rental yields in the area
- Interest rates on the loans
Living in Abu Dhabi on a Budget
Among the essential things to know before moving to Abu Dhabi, the prudent ways of staying in the city on a budget come first on the list.
By and large, three principal elements decide the cost of living in Abu Dhabi. They are your lifestyle, job, and marital status. Living in Abu Dhabi with a family entails higher expenses than staying single.
A large chunk of your living expenses in the city will include accommodation, fuel, transportation costs, school fees for your kids, healthcare, utilities, and groceries.
COVID-19 has caused significant disruption across all real estate sectors in 2020 with owners and occupiers having to make necessary adjustments to business operations in response to the statutory restrictions on capacity and mobility.
One of the major drivers in the UAE residential property market is the growing transaction value and investment in UAE’s real estate sector, which has resulted in an increase in new development projects in UAE’s property market.
The real estate industry is rapidly changing, right along with the markets you’re currently in, or thinking about investing in.
Real estate investment is one of the Simplest ways to get a residency permit in the UAE. Also you’ll find the cheapest places to rent an apartment in Abu Dhabi.
Top most affordable rental areas in Abu Dhabi :
1. Khalifa City A - Khalifa City A, which is located around 45 minutes away from the city centre of Abu Dhabi, is a good choice for families seeking affordable units to rent and is relatively close to various international schools.
2. Mohamed Bin Zayed City - Spacious apartments can be found in Mohamed Bin Zayed City (MBZ), near Mussafah, Shabia, and close to shopping malls and dining restaurants.
3. Al Zahiyah (Tourist Club Area) - Tourist Club area is a prime location in the city of Abu Dhabi, with numerous hotels, shopping malls, hospitals and dining restaurants located only a few steps away from residential units. Despite the heavy traffic and shortage of parking spaces, families can feel at ease finding affordable apartments in the bustling city.
4. Al Mussafah, Shabia Residential Area - Although Shabia is located in a busy industrial neighborhood with heavy traffic, particularly during rush hours, residents can find comfort knowing that the area has new buildings and that schools, shopping malls and hospitals are only minutes away.
5. Muroor Area - Muroor is another area for families seeking affordable apartments for rent in Abu Dhabi. Although the area often has heavy traffic and lacks parking spaces, other amenities like shopping malls, hotels, restaurants and entertainment areas can be found in just about every corner.
Conclusion:
After considering these above factors, you may be ready to take the plunge on renting a property. With so much to consider, it helps to start by creating a list of what’s the most important to you in renting a property. Then prioritize these locations to help you understand that it may be impossible to find the perfect property with everything you want. To know more about the rental properties visit us at Bazaroo.
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