Abu Dhabi's property market continued its upward trend in Q3 2024 particularly in the luxury segment. Areas like Yas Island and Al Reem Island are thriving showcasing strong demand and attractive returns.
Both luxury and affordable properties have seen increases in prices and rents. The sales value of off-plan projects rose significantly from AED 4.5 billion in Q2 to AED 5.4 billion in Q3, reflecting growing confidence among investors.
Key insights from Q3 2024 include:
Luxury Villas: Yas Island remains the top choice with an average sales price of AED 4.25 million and an annual rent of AED 226,000.
Luxury Apartments: Al Reem Island is popular for buying and renting, averaging AED 1.39 million for sales and AED 99,000 for rents.
Investment Returns: Al Jubail Island leads luxury villas with a 6.82% ROI while Al Reem Island tops luxury apartments with a 6.85% ROI.
Affordable Villas: Al Reef is the most sought-after area averaging AED 2.16 million for sales and AED 144,000 for rentals in Mohammed Bin Zayed City.
Affordable Apartments: Al Reef also leads with an average sales price of AED 857,000 while Khalifa City tops affordable rentals at AED 44,000 annually.
The analysis highlights the appeal of high-end projects and waterfront locations with Al Reem Island, Yas Island and Al Raha Beach being popular for luxury apartments. For affordable options, Al Reef and Masdar City are preferred.
Abu Dhabi's economic stability and major developments like Jubail Islands continue to attract international investment, driving market growth.