How much have property prices, rents increased in Abu Dhabi and Dubai?

How much have property prices, rents increased in Abu Dhabi and Dubai?

Activity levels across the UAE’s real estate sectors have continued to record strong performance in Q3 despite rising global headwinds.

In the residential sector, average property prices in Abu Dhabi increased by 3.2% in the year to September 2022, with average apartment prices rising by 3.3% and average villa prices increasing by 2.7%, according to commercial real estate services and investment firm, CBRE

Rents in the capital’s residential market decreased by 0.5% on average in the year to September 2022, with apartment rents increasing by 0.3% and villa rents by 1.2%.

In Q3 2022, Abu Dhabi’s transactions data registered an increase of 37.5%, compared to the prior year. In the year to date to September 2022, 3,164 new units have been completed and delivered in Abu Dhabi, a further 5,516 additional units are projected to be delivered over the course of the year, CBRE said in its quarterly real estate market review.

In Dubai, average property prices increased by 8.9% in the year to September 2022, where average apartment prices rose by 8.0% and average villa prices rose by 14.3%.

Over the same period, average rental rates recorded their highest growth rate on record, with average rents in Dubai increasing by 26.6%, with average apartment