How real estate in Abu Dhabi is performing? Record Breaking sales unlocked!

The real estate in Abu Dhabi faced a substantial increase in 2024 with sales and foreign investments at an all-time high. This growth has made the city a desired place for other local as well as foreign investors and this is because of several reasons such as government initiatives, better transparency, and a booming economy. Besides, the interest of the investors in off-plan projects in Abu Dhabi is also contributing to stabilizing the economy.

Let’s explore the diverse real estate of Abu Dhabi and record-breaking sales.

Performance of Real Estate in Abu Dhabi

AED 36.2 million in Abu Dhabi's real estate is the transaction volume for the first half of 2024. This is a big upward movement over the past years, motivated by both high sale levels and mortgages, which leads to a situation where 12,439 real estate transactions made during this period.

Various types of properties in Abu Dhabi that appeal to both luxurious and reasonable segments have fuelled Abu Dhabi’s property demand. For instance, Al Reem Island, Al Raha Beach and Yas Island have turned out to be what you would call the best places with attractive luxury apartments and villas on Yas Island registering a rise rate of up to 10.3% for its opulent houses. Conversely, areas such as Khalifa City and Al Reef have also attracted many people looking for affordable homes, especially flats.

The growth in the sales sector shows itself in every aspect including the rental sector of Abu Dhabi’s economy. For example, Saadiyat Island or Al Raha Beach charges tenants much more than before (in terms of percentage) whereby they go as high as 21% while affordable rents at Khalifa City or Mohammed bin Zayed are also appreciating steadily which is a commendable gesture in light of what we have been told about poverty line.

Ground Breaking Foreign Investment

The year 2024 has witnessed a noticeable increase in Foreign Direct Investment (FDI) directed at Abu Dhabi’s property industry. A shocking 225% surge in FDI was registered during the first half of the year when compared to 2023 with a record high amounting to AED 3.28 billion. The growing world confidence in Abu Dhabi as a blossoming real estate sector is due to the influx of overseas resources.

Countries like India, Russia and Canada are some of the prime contributors to this trend due to factors such as stable economy, geographical location and potential profitable investment returns that compel them to invest there. Furthermore, new residential developments together with timely government investments have made Abu Dhabi’s property market even more attractive.

Top Latest Properties in Abu Dhabi

However, due to the outstanding performance of the latest off-plan properties in Abu Dhabi are becoming highly attractive. Below are a few stunning projects that succeeded in attracting the attention of investors and buyers.

• Saadiyat Lagoons by Aldar properties Located at Saadiyat Island are priced at AED 7.7M offering 4-5 BR exclusive Villas.
• Ramhan Island Villas by Eagle Hills Located at Ramhan Island priced at AED 9.4M offers 3-7 BR exclusive Villas.
• Reem Hills by Q properties at Al Reem Island are priced at AED 11M offering 5-7 BR luxury Villas.

Reasons why the market continues to grow

Besides the Abu Dhabi Market continues to grow amid various driving factors which are discussed below.

1. It is evident from a glance at these factors that they contributed to the impressive performance of Abu Dhabi’s real estate market in 2024. They include:
2. Government Support: Some initiatives aimed at enhancing market transparency and protecting investors all while promoting foreign investments contributed to its achievement.
3. Foreign Investment: One major contributor to the growth in 2024 foreign direct investment has also surged significantly contributing massively towards the overall demand growth rate.
4. Diverse Composition: Abu Dhabi’s real estate offers various types of buildings hence catering for different segments within this industry.

Future Outlook of Properties in Abu Dhabi 2024

According to the analysis, properties in Abu Dhabi are performing extraordinarily. A sustained emergence of new residential developments alongside existing government programs seeking to enhance openness in the market and build investors’ confidence indicates that the stability of this sector will sustain.

There are signs that interest in prime property as well as less expensive buildings is high among both local buyers and foreign patrons alike. Notable districts such as Yas Island and Al Reem Island, which recorded remarkable gains during the first half of the year, predictions are for the long-term stability that is driving the attention of the buyers.

Conclusion

Conclusively, from the analysis 2024 remained a productive and performing year for real estate in Abu Dhabi. This is characterised by boosting foreign investment, and robust demand of the various property segments. As the year unfolds, Abu Dhabi real estate remains promising with impressive transaction records. All of these developments are seen as profitable opportunities by the investors.