Abu Dhabi property market has been on a steady rise, and the third quarter of 2024 has seen this upward trend continue, especially in the luxury segment.
Abu Dhabi property market has been on a steady rise, and the third quarter of 2024 has seen this upward trend continue, especially in the luxury segment. This growth is a positive sign for both investors and homebuyers, indicating a robust and stable market.
The luxury segment has shown remarkable growth. Areas like Yas Island and Al Reem Island have emerged as hotspots, showing strong demand and impressive returns. The average sales price for luxury villas on Yas Island reached AED 4.25 million, while Al Reem Island led the luxury apartment market with an average sales price of AED 1.39 million.
The affordable segment has also seen a surge in sales and rental prices. Al Reef has been the leading area for affordable villas, with an average sales price of AED 2.16 million. For affordable rental apartments, Khalifa City topped the list with an annual rent of AED 44,000.
Investment returns have been particularly noteworthy. Al Jubail Island provided the highest investment return of 6.82% for luxury villas, while Al Reem Island led the luxury apartment market with an estimated ROI of 6.85%. This indicates strong confidence in the market and attractive returns for investors.
Off plan projects have seen significant growth, with sales value increasing from AED 4.5 billion in Q2 2024 to AED 5.4 billion in Q3 2024. This demonstrates confidence in the market and is expected to drive continued upward momentum.
Abu Dhabi’s economic stability and premier urban experience continue to attract international investment, fueling market growth. Landmark projects like the upcoming Jubail Islands are also contributing to this positive trend.
Several factors have contributed to the continued upward momentum in Abu Dhabi’s property market. Investment-friendly policies have created a favorable environment for both local and international investors. Clear and transparent transaction processes have increased investor confidence and facilitated smoother real estate deals. The digitalization of real estate processes has made it easier for buyers and sellers to conduct transactions, reducing paperwork and streamlining the process. Measures to ensure investment security have reassured stakeholders and encouraged more investments in the market.
The third quarter of 2024 has been a period of growth and prosperity for Abu Dhabi’s property market. The continued upward momentum, particularly in the luxury segment, reflects the confidence of stakeholders and the attractiveness of the market to both local and international investors. With ongoing investment-friendly policies and a stable economic environment, Abu Dhabi’s property market is poised for further growth in the coming quarters.
For more latest real estate news and requirements please contact us at  +971 50 502 6788 or visit our official website by clicking here.
