Abu Dhabi property prices to rise by 15% in 2014

In a statement on Tuesday, the property portal said an upswing in Abu Dhabi property prices seems to continue this year.

?With news of the emirate awarding $346 billion in various sectors between 2013 and 2020, the year will continue to witness recovery and growth,? said Renan M. Bourdeau, propertyfinder.ae?s deputy chief executive.

?We are seeing numerous lifestyle projects coming up. Prices per square foot are rising and the government is recognising the huge importance of the real estate sector for the economy. It is an exciting time.?

Property prices in Al Reem Island showed a huge jump according to propertyfinder.ae?s analysis, increasing by close to 28 per cent between December 2013 and January 2014. A modern district popular with expats, Al Reem offers a high quality lifestyle, is well connected to the city centre and has seen huge investment in recent years. With additional supply scheduled to be delivered in the community in 2014, property prices might see a dip, the portal revealed.

via Business – Abu Dhabi property prices to rise by 15% in 2014.