- The property market in Abu Dhabi has experienced significant growth in recent years, with high demand driving an increase in sales prices.
- The increase in sales prices in the property market can be attributed to high demand in upscale neighbourhoods with luxurious amenities and facilities.
- According to DARI, Abu Dhabi’s digital real estate ecosystem, over 14,000 residential properties valued at over £13m were sold in 2023.
The Abu Dhabi property market has been experiencing significant growth and upward trajectory in recent years, making it an attractive destination for residential and investment purposes.
While there has been an increase in sales prices in several areas due to high demand, this trend is particularly prominent in upscale neighbourhoods that offer high-end amenities.
With Dubai also solidifying its position as a top property destination, the UAE’s real estate market as a whole had a superb year in 2023.
Property portal Bayut recently released a report tracking the real estate sector, which highlighted the increasing property prices in the UAE capital.
The report provides valuable insights into the trends and patterns observed in the Abu Dhabi property market, making it essential reading for anyone interested in buying, selling or renting properties in the emirate.
High net-worth individuals (HNWIs) interested in investing in the Abu Dhabi property market should ensure that they use a secure money transfer service when making payments.
The CEO of Bayut and Head of Dubizzle MENA, Haider Ali Khan, stated that 2023 was a record-breaking year for the UAE real estate market, with Abu Dhabi playing a major role in its success.
With landmark projects such as Rahman Islands and Jubail Islands shaping the market, both local and international HNWIs are showing continued interest in UAE real estate as a prime investment market.
Furthermore, the steady increase in the rental sector has motivated more property seekers to become homeowners rather than paying large sums in rent.
Affordable villas have experienced minor to moderate upticks of up to 4.91%, with Mohammed Bin Zayed City and Khalifa City being popular choices.
For those seeking luxury houses, rental costs have seen major appreciations, with Yas Island and Saadiyat Island showing hikes of 12.7% and 22.2%, respectively.
In the luxury segment, tenants have shown a preference for apartments in Al Reem Island and Al Raha Beach, while premium villas in Al Raha Gardens and Yas Island are also highly sought after.
With over 14 million visits to property listings in Abu Dhabi in 2023 alone, the market shows no signs of slowing down and it is clear that demand in the capital is high.
This trend is expected to continue, fuelled by attractive investment opportunities and a conducive economic environment.
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