A great opportunity to invest in Property – The Property Market has boomed in Abu Dhabi as there have been 100 percent sales transactions seen this year as compared to previous years.
There have been numerous new projects launched in the Abu Dhabi Property Market including commercial, residential developments, and mixed-use projects. Furthermore, there are several projects in the pipeline, in different design stages and planning phases with expected announcements to take place in the coming 6 months.
Abu Dhabi’s Real Estate Sector is growing and progressing as more and more properties are being launched attracting significant sales transactions. For this year, it was recorded that almost a 100 percent increase was administered in the sales of the third quarter (Q3) as opposed to previous years. Abu Dhabi is developing immensely with a predominant focus on the property market, the development of luxury property, and commercial developmental projects in compliance with the future UAE Master Plan.
Properties for Sale in the Abu Dhabi Market are increasing in demand while the Abu Dhabi Property Prices surged significantly
Abu Dhabi Property Prices are fluctuating as the Abu Dhabi Market is gaining more popularity.
As the Abu Dhabi Market is gaining significant popularity, a great number of properties are being developed over time for sale in Abu Dhabi. The Property Market is now one of the primary focuses of property developers in the UAE after Dubai. In the upcoming months, the Abu Dhabi Property Market is experiencing growth in residential sales in a report regarding UAE Real Estate.
Furthermore, according to the residential property statistics in Abu Dhabi, mentioned in the quarterly report in Arabian Business, the delivery of 1000 residential units was delivered in the third quarter of the year 2023. There was a notable concentration of properties for sale in Abu Dhabi’s Al Raha Beach. Abu Dhabi Property Prices have also increased as the popularity of properties for sale in Abu Dhabi market.
Abu Dhabi Real Estate Growth
Abu Dhabi’s Real Estate Growth is evident from sales transactions and Abu Dhabi Property Prices
Abu Dhabi Real Estate Growth is evident from the sales transactions figure of 4,160 residential units in the third quarter of 2023 in Abu Dhabi. These figures represent a significant growth of transaction volumes, which has shown a remarkable growth of 32 percent increase as compared to the previous quarter, while an increase of 102 percent of increase in the growth as compared to the same time last year growth.
Some of the most significantly prominent projects being launched in the Abu Dhabi Property Market during this period are Gardenia Bay on Yas Island, Peral 3 in Yas Bay, Vista 3 on Al Reem Island, Murjan Saadiyat on Saadiyat Island, Al Jurf Phase 2 on the Ghantoot area as well as the launch of a new phase of Saadiyat Lagoons.
There are several new projects in the process of planning and development including commercial, residential, and mixed-use development to be launched shortly. Meanwhile, the industry is also experiencing an increase in the demand for off-plan properties for residential use and investments. As more and more investors are looking towards investment opportunities in the UAE, they see the Abu Dhabi property market as one of the credible places for future investments to obtain optimal returns on investments.
Strong Demand in Abu Dhabi Property Market
Off-plan property developments in Abu Dhabi are now high in demand as investors consider investing their capital in Abu Dhabi
In light of the above-mentioned developments in the Abu Dhabi Property Market, there have been increased preferences amongst local and foreign buyers and investors to consider Abu Dhabi as a significant region for investments after Dubai. The prices of property in Dubai are no doubt slightly higher than in Abu Dhabi, yet the importance of the region is growing as the UAE government focuses on developing the capital region.
The annual growth rate of the rental property market in Abu Dhabi was 4 percent for the villas and 3 percent for the apartments. Additionally, marginal growth was seen in the average rental rates of properties in Abu Dhabi, over the quarter for normal-ranging properties. On the contrary, a higher increase was seen in the luxury developments recording a quarterly growth of 4-6 percent in the newly developed villa and apartment market.
Rental rates of offices have seen an increase of 6 percent over the past quarter and a 10 percent increase from the past year. However, there is restricted availability of the prime offices which drives initiatives from the government to attract more investments and the demand for expanding businesses.
Penny Realty Real Estate offers a huge collection of off-plan properties for sale in Dubai, by accessing our official Website, Facebook, TikTok, Pinterest, LinkedIn, Twitter, Youtube, and Instagram platforms. We bring you the Dubai Real Estate News for readers to benefit from the information and consider investing in property. Please visit our office at Tamani Arts Building in Business Bay, and visit Dubai Local for more information and your queries.