The Abu Dhabi real estate market is thriving with apartment and villa prices rising by over 8% in 2024, despite a drop in off-plan property sales. Secondary market sales particularly in residential properties saw a 44.3% increase in Q3. Rents also grew, with apartments up 9.3% and villas up 3.9%. However, off-plan sales fell by 67.2% leading to a 40.8% drop in overall transactions.
JLL's latest report highlights the UAE's resilience amid global challenges driven by strong economic fundamentals. The demand for prime properties is expected to continue with limited new supply and around 3,500 units coming in Q4. Investor confidence remains high, fueled by government initiatives and the development of world-class destinations.
The hospitality sector also saw strong performance, with hotels welcoming 2.4 million guests from January to May 2024. Rents in Abu Dhabi's office and retail markets rose with strong demand for prime spaces. The industrial and logistics market is thriving, particularly in high-quality areas like KEZAD. Overall, the market is poised for continued growth in Q4 and beyond.
1 - 2 Beds
1 - 2 Beds
