Abu Dhabi luxury realty records price surge amid global investor influx

Abu Dhabi luxury realty records price surge amid global investor influx

As per Abu Dhabi’s trusted digital real estate ecosystem DARI, there were over 4,674 residential property sales transactions valued at over Dh9.6 billion in Q1 2024. — File photo

Published: Mon 29 Apr 2024, 7:42 PM Last updated: Mon 29 Apr 2024, 7:43 PM

Abu Dhabi's property market recorded resilient growth in the first quarter as the UAE's capital city continues to attract global investors amid a surge in sales prices, particularly in upscale neighbourhoods.

Data from Bayut, a leading property portal in the UAE, shows that sales prices for luxury apartments and villas in popular neighbourhoods have increased by up to six per cent in the first quarter of 2024. Saadiyat Island has seen moderate price hikes, with luxury apartments experiencing a 3.64 per cent surge and premium villas witnessing a 5.53 per cent appreciation.

“The data analysis for the first quarter indicates a steady growth trajectory in Abu Dhabi's real estate market. The rise in property prices, transaction volume and total transaction value reflects the market's robust and consistent performance. These trends are anticipated to persist in the subsequent quarters, solidifying Abu Dhabi's position as an attractive destination for real estate investments,” the property portal said.

The data derived from a comprehensive analysis