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The analytical company Asteco has compiled data on real estate transactions in Abu Dhabi from July to August. According to their report, sales have increased by 100% in the capital. The demand for off-plan properties remains high, especially among foreign investors.
In Q3 2023, Abu Dhabi saw the completion of 1,000 real estate units, with a significant portion located in the Al Raha area. During this period, the capital recorded 4,160 buying and selling transactions, marking a 32% increase in comparison with Q2 2023.
The sale of new properties has boosted the demand for residential real estate in Abu Dhabi. Between July and August, developers launched several promising projects, including Gardenia Bay on Yas Island, Vista 3 on Al Reem Island, Perla 3 on Yas Island, Icon Tower on Yas Island, Marjan Saadiyat on Saadiyat Island, the second phase of Al Jurf in Ghantoot, and the new phase of Saadiyat Lagoons on Saadiyat Island.
In addition to the increase in the number of buying and selling transactions, the rental income from apartments in the city has grown by 3%, whilst villa rental yields have increased by 4%, with their prices rising by 1%. Meanwhile, the cost of apartments in the emirate remains stable.
The real estate market in Abu Dhabi continues to evolve steadily. In the coming six months, analysts anticipate the launch of new projects, and as a result, the increase of demand from foreign investors, business professionals, and expatriates.
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