According to the Abu Dhabi Real Estate Centre (ADREC), real estate transactions in Abu Dhabi’s property market reached AED 87.1 billion ($23.7 billion) in 2023, setting a “record-breaking” year.
According to ADREC, the value of buy and sale transactions increased by 159.5% to AED 61 billion last year. While total deals reached 22,751, up 19.5%, buying, selling, and mortgage activities increased by 12.2% overall across the sector.
The number of resident and non-resident individual property investors in the UAE capital has also increased.
In 2023, Abu Dhabi saw an increase of 71% and 175%, respectively, in the number of newly registered investors (9,448) and non-resident investors (1,098).
Last year saw a boom in the emirate’s project launches, especially in upscale areas like Saadiyat, Al Reem Island, and Yas Island.
Sales of residential real estate in Abu Dhabi have been steadily increasing since the second half of 2021. A separate report from Asteco states that the trend has gained momentum since 2023 and is currently in effect.