|
||||||||||||
Cluttons Middle East Launches Abu Dhabi Property Index |
||||||||||||
Index offers comprehensive reports, analyses, figures and data across property developments in Abu Dhabi. Index represents one of the most accurate and informative real estate tools in the Emirate. The sales outlook for Abu Dhabi in Q1 2011 remains mixed.Cluttons, the real estate specialist that has enjoyed a dedicated Middle Eastern presence since 1976, today announces the launch of its Abu Dhabi Property Index, which helps benchmark property values in the Emirate. The introduction marks the successful evolution of the Dubai Property Index, launched in October 2010 and Cluttons’ strong strategic presence in the GCC region. The Index offers comprehensive price data for both villas and apartment sales over the past year. Such information therefore provides one of the most accurate real estate price information tools on the market. The data is available on leading business portal, Bloomberg, on function {CLT<GO>}. Furthermore, Cluttons produces various property research reports and bespoke analysis from the data that is shared with its high profile client base. The information and analysis provided in the index have been created by analysing 10 leading residential areas in Abu Dhabi, categorising them into high, medium and low end according to specification. The high-end range of units referred to in the index includes prestigious areas such as Raha Beach, whilst projects such as Al Reef are included in the medium-end category, and Mohammed Bin Zayed City in the low-end range. It is hoped that this resource will present and identify new opportunities across the property sector, enabling users to choose the most lucrative direction for their property investment in a simple and credible way. On a strategic level, Cluttons is committed to best practice, and hopes the Index will foster greater transparency and reflect the true state of the Abu Dhabi property market, helping investors gain clarity and direction. Harry Goodson Wickes, Abu Dhabi Director for Cluttons, notes: "We are delighted to announce the launch of this informative real estate tool. The initial make-up of the Index comprises data collected from sales transactions and valuations. over the past four years. An important feature of the Index is that it only considers valuations and sales achieved, and excludes new launches, that are typically priced higher. This helps it reflect the real story and act as a true barometer of the state of the market.” At the current time, Cluttons research shows that apartment and villa sales in Abu Dhabi have fallen in Q4 2010: · Freehold villa values in developments such as Al Reef have seen a continuation of falling values of up to 12% from Q3 levels · The private freehold GCC market in areas such as Al Raha Gardens and Golf Gardens have remained relatively robust · The most popular developments in Abu Dhabi for sales are Al Raha beach and Marina Square
|
||||||||||||
