Abu Dhabi Real Estate Market – Q1 2024

Abu Dhabi Real Estate Market in Q1 2024

Property Prices in Abu Dhabi Increased During the First 3 Months of 2024 –  According to the ValuStrat Index (VPI) 

• Residential Capital Values

Compared to Q1 2023, increased by 4.2%:

– For Villas rose by 6.3%

– For Apartments rose by 2.1%

• Average Prices

– Off-plan Properties dropped by 3.9% – $4,200 per m²

– Ready Properties rose by 6.7% – $3,200 per m² 

• Transaction Volume

– Off-plan Properties rose by 9.1% – 68.6% of Overall Sales

– Ready Properties rose by 34.3%

Residential Supply

Apartment projects scheduled for completions in 2024 – 6,636 units.

Completed in Q1: 80 apartments – 1.2% of the expected pipeline. 

Hospitality Performance in January 2024 

According to the Department of Culture and Tourism Abu Dhabi:

• Overall Occupancy – 78%
• 500,000 Welcomed Tourists

TOP visitor nationalities: 

1. Asia – 26%
2. UAE – 22%
3. Europe – 22%