Bayut’s Abu Dhabi Sales Market Report for H1 2024
- At a Glance
- Affordable Apartments
- Luxury Apartments
- Affordable Villas
- Luxury Villas
- Highest ROI
- Off-Plan Projects
Abu Dhabi witnessed sustained growth in its real estate market during the first half of 2024. The emirate’s property landscape has undergone a transformative journey driven by a combination of factors, including investor confidence and diversified demand patterns. This comprehensive Abu Dhabi Sales Market Report H1 2024 highlights the key trends, market dynamics and emerging opportunities that have shaped the UAE capital’s real estate sector in the first six months of 2024.
ABU DHABI SALES MARKET REPORT FOR H1 2024: AFFORDABLE AND LUXURY SEGMENTS THRIVE
As per the Abu Dhabi sales market report for H1 2024, the real estate market in the UAE capital has witnessed a surge in demand across both the affordable and luxury segments:
- The capital’s residential market recorded price increases in the affordable category, with the average sales price per sq. ft. for apartments increasing by up to 10% and average villa prices rising by over 6%.
- Abu Dhabi’s luxury housing segment also registered similar growth. The luxury residential market saw price appreciation of up to 6% for apartments and over 10% for villas in the first half of 2024.
- Investors looking for luxury properties, focused their interest on waterfront developments like Al Reem Island, Al Raha Beach and Yas Island.
- For affordable properties, property buyers mostly gravitated towards Al Reef, Al Ghadeer and Khalifa City.
- The increase in average sales price per sq. ft. across both segments can be attributed to an increased demand for investment properties.
For an accurate representation of Abu Dhabi property prices, our 2024 H1 sales market report for Abu Dhabi compares the average price-per-square-foot for an area to H2 2023. Please note that these prices are subject to change based on multiple factors, including amenities available, the developer involved in the project, location and other factors.
AL REEF EMERGES AS THE PRIME DESTINATION FOR BUYING AFFORDABLE APARTMENTS IN ABU DHABI
AVERAGE SALES PRICES FOR AFFORDABLE APARTMENTS: BAYUT’S H1 SALES PROPERTY MARKET REPORT FOR ABU DHABI 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|
| Al Reef | ROI 8.34% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| STUDIO
| 1-BED
| 2-BED
|
| Al Ghadeer | ROI 8.52% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| STUDIO
| 1-BED
| 2-BED
|
| Masdar City | ROI 6.61% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| STUDIO
| 1-BED
| 2-BED
|
| Baniyas | ROI 5.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| STUDIO
| 1-BED
| 2-BED
|
- According to the Abu Dhabi property sales market H1 2024 report, affordable apartments in Al Reef, Al Ghadeer, Masdar City and Baniyas attracted the most interest from small-ticket investors.
- The apartments for sale in Reef, Al Ghadeer and Masdar City recorded price upticks of up to 9.5%. The most significant price increase was noticed in Al Ghadeer, indicating an increased demand for affordable apartments.
- Apartments in Baniyas, which was another popular option among investors, reported a 2.47% decrease in average sale price.
INVESTOR CONFIDENCE SOARING IN AL REEM ISLAND FOR LUXURY APARTMENT SALES IN ABU DHABI
PROPERTY PRICES FOR LUXURY APARTMENTS: ABU DHABI PROPERTY SALES MARKET H1 2024 REPORT
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Al Reem Island | ROI 6.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 1-BED
| 2-BED
| 3-BED
|
| Al Raha Beach | ROI 5.97% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 1-BED
| 2-BED
| 3-BED
|
| Yas Island | ROI 6.93% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 1-BED
| 2-BED
| 3-BED
|
| Saadiyat Island | ROI 4.36% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 1-BED
| 2-BED
| 3-BED
|
Abu Dhabi’s luxury real estate segment continued to grow in H1 2024, cementing the emirate’s status as a desirable destination for high-net-worth individuals:
- Al Reem Island, Al Raha Beach, Yas Island and Saadiyat Island remained popular among home buyers and investors looking for luxury apartments during H1 2024.
- The average sales price per sq. ft. for these areas registered upticks of up to 6%, emphasising the continued demand for high-end and waterfront living spaces.
- 1 BED
- |
- 2 BATHS
- |
- 1044 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 903 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 904 SQFT
- STUDIO
- |
- 1 BATH
- |
- 379 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 1219 SQFT
- 2 BEDS
- |
- 2 BATHS
- |
- 1194 SQFT
AL REEF BUYING AFFORDABLE VILLAS PER ABU DHABI SALES MARKET REPORT H1 2024
AVERAGE PROPERTY PRICES IN ABU DHABI FOR AFFORDABLE HOUSES: ABU DHABI PROPERTY SALES MARKET H1 2024 REPORT
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|
| Al Reef | ROI 6.18% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Khalifa City | ROI 3.98% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Ghadeer | ROI 7.11% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Hydra Village | ROI 8.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Samha | ROI 5.14% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 3-BED
| 4-BED
| 5-BED
|
- Investors and homebuyers looking for budget-friendly villas were increasingly drawn to Al Reef, Khalifa City, Al Ghadeer, Hydra Village and Al Samha.
- The real estate market Abu Dhabi sales report H1 2024 revealed an increase of up to 7% in average sales prices per sq. ft. for affordable villas in most of these areas.
- The buy-to-let villas in Khalifa City however, reported a 1.73% decrease in the average price per sq. ft. during H1 2024.
YAS ISLAND HOLDS THE TOP SPOT FOR BUYING LUXURY VILLAS IN ABU DHABI
PROPERTY PRICES FOR LUXURY VILLAS: ABU DHABI SALES MARKET REPORT H1 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023 | 4-BED | 5-BED | 6-BED |
|---|---|---|---|---|---|
| Yas Island | ROI 6.89% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 4-BED
| 5-BED
| 6-BED
|
| Al Raha Gardens | ROI 6.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 4-BED
| 5-BED
| 6-BED
|
| Saadiyat Island | ROI 5.30% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2023
| 4-BED
| 5-BED
| 6-BED
|
- Yas Island, Al Raha Gardens and Saadiyat Island attracted those looking for luxury villas in the UAE capital.
- Overall, the average price per sq. ft. for luxury villas in Abu Dhabi’s real estate market appreciated by 4% to 11% in H1 2024. The highest appreciation was recorded for opulent villas for sale in Yas Island.
- The villas in Al Raha Gardens, however, became slightly cheaper, recording a decrease of 0.74%.
- 4 BEDS
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- 8 BATHS
- |
- 5795 SQFT
- 4 BEDS
- |
- 6 BATHS
- |
- 5795 SQFT
HIGHEST ROI
In the affordable housing market, Al Ghadeer was a prime destination for apartment sales, offering a projected return on investment (ROI) of 8.52%. With an ROI of 8.08%, affordable villas for sale in Hydra Village also emerged as solid investment prospects.
Other areas offering lucrative returns in the affordable category as per the real estate market Abu Dhabi sales report H1 2024 include:
- Al Reef – 8.34% – Apartments
- Al Ghadeer – 7.11% – Villas
Simultaneously, luxury apartments on Al Reem Island have maintained a healthy projected rental yield of 6.94%, further solidifying their appeal among discerning buyers. HNWIs and investors eyeing handsome returns on luxury villa purchases showed preference towards Yas Island, with a projected rental yield of 6.89% proving enticing.
Other promising high ROI areas in the luxury segment include:
- Yas Island – 6.93% – Apartments
- Al Raha Gardens – 6.08% – Villas
KEY OFF-PLAN PROJECTS: ABU DHABI SALES MARKET REPORT H1 2024
Off-plan property sales significantly boosted the Abu Dhabi Property Sales Market H1 2024. This surge can be linked to developers launching exciting new off-plan projects in Abu Dhabi, attracting investors seeking lucrative opportunities.
MOST POPULAR OFF-PLAN APARTMENT DEVELOPMENTS IN ABU DHABI
PROJECT | LOCATION | CATEGORY |
|---|---|---|
PROJECT Royal Park | LOCATION Masdar City | CATEGORY Affordable |
PROJECT Al Reeman 1 | LOCATION Al Shamkha | CATEGORY Affordable |
PROJECT Bloom Living | LOCATION Zayed City | CATEGORY Affordable |
PROJECT City of Lights | LOCATION Al Reem Island | CATEGORY Luxury |
PROJECT Yas Bay | LOCATION Yas Island | CATEGORY Luxury |
PROJECT Saadiyat Cultural District | LOCATION Saadiyat Island | CATEGORY Luxury |
Investors and buyers looking for budget-friendly off-plan flats favoured:
- Royal Park in Masdar City
- Al Reeman 1 in Al Shamkha
- Bloom Living in Zayed City
Similarly, high-end property buyers interested in off-plan apartments gravitated towards:
- City of Lights in Al Reem Island
- Yas Bay on Yas Island
- Saadiyat Cultural District on Saadiyat Island
In March 2024, a stunning three-bedroom penthouse at Nobu Residences in Saadiyat Cultural District was sold for a staggering AED 137 million, becoming the most expensive apartment ever transacted in the UAE capital.
TOP OFF-PLAN VILLA PROJECTS IN ABU DHABI
PROJECT | LOCATION | CATEGORY |
|---|---|---|
PROJECT Fay Al Reeman 2 | LOCATION Al Shamkha | CATEGORY Affordable |
PROJECT Bloom Living | LOCATION Zayed City | CATEGORY Affordable |
PROJECT Yas Acres | LOCATION Yas Island | CATEGORY Luxury |
PROJECT Murjan Al Saadiyat | LOCATION Saadiyat Island | CATEGORY Luxury |
Investor favourites for affordable off-plan villa sales in Abu Dhabi included:
- Fay Al Reeman 2 in Al Shamkha
- Bloom Living in Zayed City
As for luxury off-plan villas, homeowners and investors showed interested in:
- Yas Acres on Yas Island
- Murjan Al Saadiyat on Saadiyat Island
Commenting on the findings, Haider Ali Khan, CEO of Bayut and CEO of Dubizzle Group MENA, said:
“Over the past six months, we have seen the Abu Dhabi real estate market grow, stabilise and then grow again. ADREC’s recent reports confirm that foreign direct investment is at an all time high in the capital. We can also see how Abu Dhabi has established itself as a strong contender among global property markets in the last 18-24 months. The diverse range of off-plan projects currently available in Abu Dhabi has significantly contributed to this heightened interest from international HNWIs and investors, particularly in the luxury segment.
With the government proactively bringing in more regulation and transparency, we can expect the properties in the capital to continue drawing both local and international interest. Demand has also remained high on Bayut throughout 2024 with traffic increasing steadily month on month, and we can expect this trend to continue into the second half of the year as well. ”
That’s a wrap for the Abu Dhabi sales market report for H1 2024. Analysts also remain optimistic about the future of Abu Dhabi’s rental market. With the current positive trends highlighted in Abu Dhabi Rental Market Report H1 2024 expected to continue, the emirate is poised to solidify its position as a premier real estate destination.
The performance of Dubai’s real estate market in the first six months of 2024 underscores the sector’s increasing appeal to international investors. The robust growth on display, as evident in the Dubai Sales Market Report for H1 2024 and Rental Market Report for Dubai H1 2024, offers encouraging signs for the remainder of the year, painting the picture of a thriving property landscape in the UAE capital’s neighbouring emirate.
For key insights into UAE’s real estate market, stay tuned to MyBayut!
Disclaimer: The above Abu Dhabi Sales Market Report (MKTRPTH12024) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com (excluding room share) and is not representative of actual real estate transactions conducted in Abu Dhabi.
