(MENAFN– Khaleej Times) Sales prices for luxury apartments and villas in Abu Dhabi’s sought-after neighbourhoods have risen by up to 13 per cent in 2023, new data shows.
Based on the search trends observed on Bayut, the UAE’s leading property portal, the prices of properties in Abu Dhabi have been on an upward trend, which could be advantageous for those looking to sell or rent out their properties. While there was an increase in sales prices in several areas driven by high demand, this trend was particularly noticeable in upscale neighbourhoods offering high-end amenities and facilities.
Bayut recently released its Abu Dhabi Annual Sales and Rental Market Report for 2023, providing a comprehensive analysis of the real estate market in the UAE capital.
With these comprehensive reports, Bayut reveals key insights into the current market trends, pricing dynamics and future forecasts in the sales and rental market of Abu Dhabi.
For affordable apartments, Al Reef and Al Ghadeer have been the most searched areas. Luxury apartment seekers have also generated high search volumes for units in Al Reem Island, Yas Island and Saadiyat Island in 2023.
Data from Bayut shows that s. Saadiyat Island was a particular highlight, revealing price increases of 8.73 per cent for luxury apartments and a massive 12.9 per cent hike for premium villas.
Sales price-per-square-foot for the highly searched areas featuring affordable apartments have experienced moderate declines of up to 2.05 per cent. When it comes to affordable villas, there has been a minor increase of up to 3.95 per cent recorded in price-per-square-foot. Most notable appreciations were seen for Al Samha, followed by Khalifa City and Al Ghadeer.
As per DARI, Abu Dhabi’s digital real estate ecosystem, there were over 14,000 residential property (ready and off-plan) sales transactions valued at over Dh52 billion in