The Abu Dhabi real estate sector saw AED6.7bn ($1.8bn) of transactions in Q2 2024, according to Property Finder’s Market Watch digest report.
Abu Dhabi saw 2,489 transactions with values reaching almost AED6.7bn ($1.8bn).
In Abu Dhabi, existing properties have shown a YoY increase of approximately 41 per cent in volume with around 1,166 transactions in Q2 2024.
Abu Dhabi real estate Q2 2024
The value of these transactions increased by 42 per cent YoY, touching AED3.8bn ($1bn), compared to AED2.7bn ($735m) in Q2 2023.
Existing properties contributed to 57 per cent of the total sales transactions value compared to 33 per cent in Q2 2023, revealing growth in returns and preference for ready properties.
At the same time, Abu Dhabi registered around 1,323 off-plan transactions in Q2 2024, representing 53 per cent of the total transactions.
Sales transaction values in Q2 2024 reached AED2.87bn ($781m), contributing to 43 per cent of the total value.
Cherif Sleiman, Chief Revenue Officer at Property Finder, said: “Our quarterly findings spotlight the diversity of options available to home seekers in the UAE, with attractive investment opportunities catering to a breadth of buyers, irrespective of affluence, locality preference, maturity within the market and required facilities.
“We see this across the demand for more ready properties in Abu Dhabi, as well as longer term off-plan investments in Dubai.
“These trends can be attributed in part to the efforts of regulators such as the DLD, who remain committed to working with private players to ensure market transparency”.
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