Abu Dhabi’s residential real estate momentum contributed to 1,813 transactions in total, touching AED4.92bn ($1.3bn) in Q3, according to Property Finder’s Market Watch digest report for July to September.
This accounted for 63 per cent of the total transaction volume (residential, commercial and others) and 56 per cent of the transaction value.
The off-plan market registered approximately 746 transactions, accounting for 41 per cent of the total in Q3 2024. Values reached AED2.56bn ($697m), contributing to 52 per cent of the total for the quarter.
Abu Dhabi real estate Q3
The existing property market, on the other hand, saw 1,067 transactions in Q3 2024 representing around 59 per cent of total transactions, compared to 747 in Q3 2023, contributing to 24 per cent of the total.
This reflected a notable growth of 42.8 per cent YoY, marking the highest transaction volume and value recorded in the last eight quarters.
The value of existing/ready transactions in Q3 2024 reached AED2.37bn ($645m), contributing 48 per cent of the total sales transaction value, compared to 15 per cent in Q3 2023.
This represented a 44.8 per cent increase compared to AED1.6bn ($436m) in Q3 2023, despite a decrease in year-on-year overall transactions
Cherif Sleiman, Chief Revenue Officer, Property Finder, said: “We recognise the positive momentum in Abu Dhabi’s market, which further enriches the regional landscape.
“The Abu Dhabi Real Estate Centre’s newly launched Rental Index also promises greater transparency for tenants and landlords, supporting a stable growth for property in the Emirate.”
Follow us on
