Abu Dhabi sees major surge in real estate transactions

The real estate sector in Abu Dhabi has continued its trajectory of growth in the first quarter of 2023, with 5,472 property sales and mortgages recorded worth AED 27.9 billion.

According to the Department of Municipalities and Transport (DMT), the value of transactions increased by 147 per cent compared to the same period last year, while the number of transactions has risen by 66 per cent.

A total of 3,518 property sales worth AED 16.2 billion were registered in Q1 2023, compared to 1,722 transactions worth AED 4.4 billion during the first quarter of last year.

The DMT also recorded a significant increase in the value and number of mortgage transactions during this period, with 1,954 mortgages recorded worth AED 11.7 billion between January and March 2023, compared to 1,582 transactions worth AED 6.9 billion during Q1 2022.

During the first quarter of this year, there were 1,769 new investors in these transactions, which is a 42 per cent increase compared to the first quarter of last year.

Additionally, the percentage of non-resident investors was 10.71 per cent, which is a 75 per cent increase. 

.@AbuDhabiDMT has recorded AED27.9 billion in real estate transactions in Q1 of 2023, a 147 per cent increase on the same period in 2022, reflecting the sector’s continued growth, and the confidence of investors in the strength of the emirate’s real estate market. pic.twitter.com/SBKqnoNPEi

— مكتب أبوظبي الإعلامي (@ADMediaOffice) May 3, 2023