The demand for real estate in Abu Dhabi continues to grow. Local developers are actively building new residential complexes in the city.
According to local authorities, 38.7 thousand new residential units will be added to the Abu Dhabi property market by 2028.
The residential sector in Abu Dhabi is experiencing steady growth due to increased demand from local and international investors, as well as strategic government initiatives such as housing incentives," experts say.
By the way, according to Cavendish Maxwell Consulting, 5.200 new complexes will be launched in the emirate in 2024. In 2025, 10.8 thousand new residential units are expected to come onto the market. And by the end of 2028, this figure will reach 38.700. At the same time, the total number of residential units in Abu Dhabi will be around 313,700
Sustainable development and innovative housing solutions will play a key role in shaping the future of the UAE capital's residential property market, as growing demand and price growth will be further stimulated by the expansion of infrastructure and improved community offerings," experts believe.
To recap, Abu Dhabi will see an increase in the average selling price of apartments by almost 11.5% in 2024, while villa prices will rise by 12.5%. Yas Island will see the highest price increases of 20% for flats and 13 per cent for villas.
In the rental market, flat prices will increase by 13% and 8% respectively. Meanwhile, Yas Island recorded the highest price increases of 16% for flats and 10% for villas. Cavendish Maxwell predicts that growth will be smoother this year.
Abu Dhabi also saw a 34% increase in mortgage transactions in 2024. Meanwhile, nearly 5 lakh people obtained mortgages totalling AED 7.1 billion. Housing loans dominated the mortgage market. They accounted for 66% of total loans against 55% a year earlier. Incidentally, it was lower interest rates, increased investor confidence and attractive financing options offered by banks that boosted demand for mortgages last year.