Why Abu Dhabi is a hot choice for buying property in 2020

Abu Dhabi, the high-rise capital of UAE, is turning to be a hot choice for property buyers. Over the years, Abu Dhabi's real estate sector has grown to become a key contributor to the economy. According to the Abu Dhabi Department of Economic Development, the property market has been an important asset to Abu Dhabi's GDP and FDI, growing by 4.6% over the last five years. As a result of the proactive steps taken by the government, this has firmly positioned the country as a global investment hub. Opening up of the freehold market to foreign investment has exposed the real estate sector in Abu Dhabi to a whole new set of interested investors and buyers.

Abu Dhabi has emerged as the cultural hub of the world with world-class facilities and an interesting cosmopolitan social and cultural mix of communities. It provides lifestyle, comfort, and luxury, perfect for someone looking to plant their roots.

Reasons for Abu Dhabi's real estate growth in 2020:

• In line with market demand, a range of affordable & competitively priced projects are being offered to give the investor value for money
• Developers are offering a range of flexible payment plans to entice investors
• Introduction of a number of supportive Government policies and reforms including allowing foreign nationals to own freehold property in designated zones, plus the introduction of long-term residency permits and new business licenses
• Abu Dhabi's rental market continues to be tenant-friendly with superior returns
• Infrastructure, development, legal transparency and healthy market conditions

2020 is going to be an important year to observe as Abu Dhabi's real estate market matures further. With the good mix supply of both affordable and luxury properties available and prices becoming more competitive in the sales segment, we are likely to see more first-time buyers, as well as seasoned global investors taking the step to invest, buy and live in the city.

(Mona Jalota is founder & MD of Krypton Global Investments, an Indian boutique agency specializing in International Properties & Investment Opportunities. The opinions expressed are the personal views of the author. The facts and opinions appearing in the article do not reflect the views of Devdiscourse and Devdiscourse does not claim any responsibility for the same.)