Did you know that in the first half of 2024, property transactions in Abu Dhabi soared to an impressive 36.2 billion AED? According to Crompton Partners’ report, this marks a significant uptick compared to the second half of 2023, driven by strategic government initiatives and a remarkable 225% surge in foreign investment. The real estate landscape here is evolving rapidly, offering lucrative opportunities for investors.
Let’s dive into what this means for some of Abu Dhabi’s key locations:
- Al Reem Island: This dynamic area recorded 722 transactions, bringing in 531,539,703 AED. The average sale price per square meter soared to 10,529 AED, reflecting a 56.7% increase. While Shams Reem Island, a part of Al Reem, experienced an 11.9% price drop, it still holds the highest annual turnover rate at 32.2%, showing just how in-demand this location is.
- Saadiyat Island: Known for its luxury and allure, this location had 42 transactions that generated 516,990,000 AED. The average sale price per square meter stood at 35,141 AED, with a slight 0.2% decrease. But it’s worth noting that Saadiyat Beach Villas saw a remarkable 56.7% price hike, making it a standout performer. Meanwhile, Mamsha maintained its exclusivity, with the lowest annual turnover rate at just 0.2%.
- Yas Island: Recording 189 transactions, Yas Island brought in 430,306,785 AED. The average sale price per square meter increased to 14,136 AED, reflecting a 17.4% rise. Yas Island’s steady demand makes it a solid choice for investors looking for reliability.
- Al Raha Beach: In this sought-after area, 139 transactions contributed 261,899,500 AED to the market. The average sale price per square meter rose to 11,186 AED, showing a 6.0% increase. Communities like Al Bandar, Al Muneera, and Al Zeina are driving balanced growth, highlighting the area’s stable and strong market position.
- Al Ghadeer: With 136 transactions, this community added 108,488,000 AED to the market. Prices here have been climbing, with Al Ghadeer 1 and Al Ghadeer 2 experiencing increases of 11.1% and 10.2%, respectively. This emerging community is becoming an attractive option for those seeking affordability with growth potential.
- Al Reef: This area, known for its affordability and broad appeal, recorded 152 transactions, generating 187,533,900 AED. The average sale price per square meter saw a 6.0% increase. With its mix of villas and apartments, Al Reef continues to attract a diverse range of buyers, ensuring ongoing growth.
- Al Raha Gardens: In this family-friendly community, 11 transactions secured 31,059,600 AED. The average sale price per square meter rose by 11.6% to 9,423 AED. While turnover rates are lower here, this points to a strong attachment by residents, making this area a secure and promising investment.
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It’s time to explore your opportunities.
As we move into the second half of 2024, these trends emphasize the resilience and diversity of Abu Dhabi’s property market. Whether you’re buying, selling, or investing, staying informed is essential. Don’t miss out on the latest market trends
Ready to make your move? Contact us at 800-2732 or email enquiries@cromptonpartners.com for personalized advice. Let’s help you make the right decision in this dynamic market.
