Abu Dhabi Real Estate Market Shows a 147% Growth in Q1 2023 with Property Deals Worth USD 7.6B

Abu Dhabi continues to attract people wishing to make a profitable investment in the Emirati capital’s property market. As a result, Q1 2023 showed an immersive growth in comparison to Q1 2022. The total number of transactions reached 5,472, including sales and mortgages.

The total value of property deals in the period from January to March 2023 reached AED 27.9B (USD 7.6B). According to the data from the Department of Municipalities and Transport (DMT), this is a 147% growth in value and a 66% increase in the number of transactions compared to Q1 2022, when 3,304 transactions were made worth AED 11.3B (USD 3.1B).

In Q1 2023 the Abu Dhabi real estate market showed 3,518 buying and selling transactions of properties worth AED 16.2B (USD 4.4B). This is 268% higher in terms of the total value and 104% higher in the number of transactions compared to the same period of the previous year, when the number of property deals was 1,722 with AED 4.4B (USD 1.2B) in value.

As for mortgages, in Q1 2022 the Abu Dhabi real estate market saw 1,582 mortgages worth AED 6.9B (USD 1.88B). This year so far, the numbers are 24% and 70% higher in terms of the number and value, reaching 1,954 transactions with a total value of AED 11.7B (USD 3.18B).

Both residents of the UAE and foreign investors are interested in purchasing a property in Abu Dhabi. Thus, there was a 75% year-on-year increase in the number of non-resident investors from 6.1% in Q1 2022 to 10.71% during the same period of this year. Moreover, 1,769 new investors were attracted by the real estate market of the Emirati capital, which is 42% higher than in Q1 2022 when the number was 1,244.

Among the recently launched projects in Abu Dhabi are Lamar Residences by Nine Yards on Al Raha Beach, Yas Golf Collection Views by Aldar Properties on Yas Island and The Source by Aldar Properties in Saadiyat Grove.