The Abu Dhabi real estate market is experiencing an unprecedented boom. Last year, real estate transactions reached a record AED87.1bn ($23.7bn), according to the Abu Dhabi Real Estate Centre (ADREC). The value of buying and selling activities surged by 159.5 per cent compared to 2022, reaching AED61bn ($16.6bn).
Record-Breaking Growth
The Abu Dhabi real estate market saw a major increase in transaction value and volume. ADREC reported this increase based on 15,653 transactions, representing a 73.7 per cent rise from 2022.
Buying, Selling and Mortgage Activities
The overall buying, selling and mortgage activities across the sector increased by 12.2 percent compared to 2022. The reported results are based on a total of 22,751 transactions, which rose by 19.5 percent from the previous year’s number of transactions.
Diversity in the Abu Dhabi Real Estate Sector
ADREC also noted an increase in resident and non-resident individual investors during 2023, which reflects the diversity of the Abu Dhabi real estate sector. The emirate saw 9,448 newly registered investors and 1,098 non-resident investors – marking significant increases of 71 percent and 175 percent respectively, compared to 2022.
Consistent and Sustainable Growth
Abu Dhabi real estate market continues to demonstrate consistent and sustainable growth, in line with our leaders’ vision to maintain the emirate’s global appeal as a prime real estate investment destination.
A Global Real Estate Destination
These results reflect ADREC’s strategic mission to position Abu Dhabi as a global real estate destination and lead the growth of its entire real estate ecosystem. They also demonstrate the strength and potential of the emirate’s real estate sector, which continues to attract both local and international investors, making it a sought-after destination for real estate investment on a global scale.
To learn more about Abu Dhabi’s incredible Real Estate potential and opportunities, contact Spades Real Estate today!
