Abu Dhabi: Metropolitan Capital Real Estate (MCRE), part of the Metropolitan Group, has seen strong demand for off-plan and ready properties from international buyers in Abu Dhabi. The full-service real estate agency has seen a 50% increase in international buyers in the first four months of this year versus the same period in 2021 with nearly 90% of the buyers choosing to relocate to the city with their families.
Buyers are mainly from Western Europe, particularly France, Germany, Italy and Austria. The agency has also seen a significant increase in buyers from Australia and the CIS countries. Yas Island, Al Saadiyat Island, Al Reem Island, Khalifa City and Al Raha Beach are popular locations and account for 80% of MCRE’s sales.
Highlighting the city’s appeal to international buyers was Abu Dhabi’s first branded residence, the recently launched Louvre Residence from ALDAR, which sold out in days,
According to data from The Department of Municipalities and Transport, UAE capital’s real estate market recorded 3,304 transactions, reaching a value of AED11.3 billion in Q1 2022.
The Abu Dhabi real estate market has been historically driven by residents with up to 80% of real estate purchases made by Emiratis or residents. However, Abu Dhabi’s growing attractiveness as a safe city for families and a competitive city for business and investment has helped its appeal with international buyers,
said Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate.