Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
In Abu Dhabi, the residential sector experienced a remarkable year, with 11,200 units being sold across the capital, marking an 83% increase year-on-year. The surge in demand for residences can be attributed to various positive initiatives and announcements by the government, alongside a thriving economy and the introduction of new projects, as highlighted by Savills' latest research on the emirate's residential sector.
Abu Dhabi has also seen a rise in the number of expats and digital nomads, contributing to its growing appeal as a residential destination. This was evidenced by the city's inclusion in the Savills Executive Nomad Index, where it claimed four places for the first time.
Growing demand has spurred a significant increase in new project launches, with over 8,000 units introduced to the market. Additionally, market transparency has improved, attracting a broader range of investors and end-users beyond the traditional segments. In 2023, the market saw increased investments from foreign nationals and sustained demand from the Emirati population.
The demand for high-end villas and townhouses witnessed a steady rise, emerging as one of the most sought-after segments in 2023. Approximately 4,800 villa and townhouse units were sold during the year, constituting 43% of total sales, with off-plan transactions representing around 84% of these transactions.
Preferred locations for villa projects included Saadiyat Island, Yas Island, and Al Reem Island, reflecting the preference for waterfront properties among investors and end-users. Notable among the new projects is the announcement by the Abu Dhabi Housing Authority (ADHA) regarding the opening of 1,700 units in Balghaiylam, a new residential development situated northeast of Yas Island.
The average capital value for villas in the city rose by 6% year-on-year, reaching 11,800 AED/sq m. At the same time, prime locations such as Saadiyat Island and Yas Island recorded capital values as high as 16,000 AED/sq m.
Apartments accounted for a larger share of the sales, comprising 57% of total transactions, with off-plan apartments representing 69% of the demand. Nearly 3,400 units were launched during the year, with over half of them located across the Yas and Saadiyat Islands, reflecting the growing popularity of these areas among residents.
Saadiyat Island witnessed the launch of 700 units by Aldar Properties, alongside projects like Nobu Residence, Manarat Living, and The Source. Similarly, Al Reem Island saw the introduction of Tiger Properties' Renad Tower project, adding 256 units to its inventory.
In 2023, notable project launches included Aldar Properties at Al Shamkha, Bloom Properties' Casares at Bloom Living, Marsa Al Jubail, Jubail Terraces at Jubail Island, and Reportage Real Estate's Royal Park at Masdar City. The capital value of apartments experienced an average increase of 6% year-on-year, with the average capital value in the city standing at 14,800 AED/sqm. Additionally, some areas saw growth rates of up to 18% year-on-year, while apartment rental values remained stable, with minimal growth year-on-year.
In conclusion, the residential sector in Abu Dhabi continues to demonstrate resilience and attractiveness, with robust demand and significant investment opportunities. As the market evolves and new projects are introduced, the city remains poised for continued growth and development in the years to come.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy