Abu Dhabi, UAE – dubizzle, the go-to platform for property seekers, tenants, and investors in the UAE, continues to be a key player in facilitating seamless access to the Emirate’s dynamic and ever-changing real estate market. With its prominent presence in the sector, dubizzle has released quarterly market insights to help users make informed decisions. As per the analysis of the latest trends, Q3 2024 has marked a period of growth and prosperity for Abu Dhabi’s real estate market.

During the third quarter, a notable uptick has been observed in the prices and rents of luxury properties. Likewise, the affordable segment has sustained the trend with surges in sales and rental prices in certain areas.

Overall, the trends reflect the confidence of stakeholders in the market. Investment-friendly policies, transparency in transactions, digitalisation of processes and investment security have remained significant factors cementing this confidence.

Commenting on the latest market trends, Haider Ali Khan, CEO of Bayut & dubizzle and CEO of Dubizzle Group MENA, said:

“Abu Dhabi’s real estate market has thrived in Q3 2024, outpacing previous quarters, particularly in the luxury segment. Areas like Yas Island and Al Reem Island have emerged as hotspots, showing strong demand and impressive returns. DARI also reports a significant rise in the sales value of off-plan projects, increasing from AED 4.5 billion in Q2 2024 to AED 5.4 billion in Q3 2024. This growth demonstrates confidence in the market, which will drive its continued upward momentum.  The capital's economic stability and premier urban experience, along with landmark projects like the upcoming Jubail Islands, continue to attract international investment, fueling market growth.

At dubizzle, we remain dedicated to empowering our users with the tools they need to make informed decisions in this vibrant market, solidifying our role as the leading platform for real estate listings in the UAE.”

dubizzle highlights the following insights from Abu Dhabi’s property market in Q3 2024:

  • Top Luxury Areas for Villas: Yas Island has remained the top choice for buyers and tenants seeking luxury villas. For the quarter, it recorded an average sales price of AED 4.25M and an average rent of AED 226k.
  • Top Luxury Areas for Apartments: Al Reem Island has remained a favourite for both buying and renting luxury apartments, with an average annual rent of AED 99k and sales price averaging AED 1.39M.
  • High Investment Returns for Luxury Properties: Al Jubail Island has provided the highest investment return of 6.82% for luxury villas, while Al Reem Island led the luxury apartment market with an estimated ROI of 6.85%.
  • Top Affordable Areas for Villas: Al Reef has been the leading affordable area for villas, with an average sales price of AED 2.16M. For rentals, Mohammed Bin Zayed City has remained a preferred choice, offering villas at an average rent of AED 144k. 
  • Top Affordable Areas for Apartments: Al Reef has continued to be the most sought-after area for affordable apartments, with an average sales price of AED 857k. For affordable rental apartments, Khalifa City has topped the list with an annual rent of AED 44k.
  • Affordable Off-plan Projects: Royal Park in Masdar City has emerged as the most popular affordable off-plan apartment project, with an average sales price of AED 883k. For affordable villas, Al Reeman 2 in Al Shamkha remained the most searched project with prices averaging AED 4.05M
  • Luxury Off-plan Projects: In the luxury segment, the City of Lights in Al Reem Island has led the list with an average price of AED 1.41M. While Noya Viva in Yas Island has taken the lead in the luxury villa segment with an average price of AED 3.37M.
  • High Investment Returns on Properties: Al Reef has recorded the highest ROI of 8.90% in the affordable apartment market, while Al Ghadeer has led the affordable villa segment with an ROI of 6.29%.

Properties for Sale in Abu Dhabi

According to dubizzle’s search trend analysis, the following areas have appeared as the popular choice for buying apartments and villas in Abu Dhabi in Q3 2024.

Apartments for Sale

Al Reem Island, Yas Island and Al Raha Beach have consistently ranked among the most popular luxury areas to buy apartments in Abu Dhabi. High-end projects, tourist attractions and waterfront locations have helped these areas take the lead.

  • With an average sales price of AED 1.39M and an ROI of 6.85%, Al Reem Island has led the luxury apartment market segment in Abu Dhabi.
  • Yas Island has followed Al Reem, offering high-end flats at an average sales price of AED 1.81M and an ROI of 6.52%.
  • The price per square foot of apartments in Al Reem Island has reached AED 1,156, while it was AED 1,320 in Al Raha Beach. Yas Island has seen the highest increase of 3.41% in price per square foot, making it AED 1,615.
  • Saadiyat Island, with an average sales price of AED 3.32M, and Al Maryah Island, with AED 1.15M, have also remained popular among luxury apartment buyers.

For affordable apartments, buyers have preferred Al Reef, Masdar City and Al Ghadeer in Q3 2024.

  • The sales price of apartments in Al Reef has averaged AED 857k, with an ROI of 8.90%. Whereas Masdar City ranked second on the list, with a sales price of AED 904k and an ROI of 6.94%.
  • Masdar City has recorded the highest price per square foot of AED 1,191. The highest change in the per square foot prices was 2.28%, recorded in  Al Ghadeer.
  • The sales prices of studio apartments in Al Reef, Masdar City and Al Ghadeer have averaged AED 471k, AED 560k and AED 434k, respectively.
  • The maximum shift of 5.08% in 1-bedroom apartment prices has been recorded in Al Reef, bringing it to AED 662k in Q3 2024.
  • The prices of 2-bedroom apartments in Al Ghadeer have increased by 5.82%, standing at AED 836k.

Villas for Sale

Much like the luxury apartment segment, Yas Island, Saadiyat Island and Al Reem Island continue to attract buyers for luxury villas.

  • The sales price of villas in Yas Island has averaged AED 4.25M, with an estimated ROI of 6.42%. The price has been AED 8.91M for Saadiyat Island and AED 5.15M for Al Reem Island.
  • The per-square-foot price of Yas Island, Saadiyat Island and Al Reem Island has been AED 1,384, AED 1,541 and AED 1,214, respectively.
  • The price for 4-bedroom villas in Al Reem Island has increased by 8.50%, jumping from AED 4.62M in Q2 2024 to AED 5.01M in Q3 2024.
  • Contrary to other property units in Yas Island, the sales price of 5-bed villas has dropped by 3.34%, making it AED 5.91M. The sales prices of 5-bed villas in Saadiyat Island, Al Reem Island and Al Jubail Island have increased by 1.54%, 1.17% and 2.05%, respectively.
  • Al Jubail Island has witnessed the highest increase of 10.95% in the average sales price of villas, making it AED 10.26M for Q3 2024. The highest ROI of 6.82% has also been offered by the area in the luxury villa category.
  • The highest price per square foot change of 9.33% has been recorded in Al Jubail Island.
  • Al Matar has also remained a preferred option for buying luxury villas, with an average sales price of AED 4.18M and an ROI of 4.48%.

For affordable villas, buyers have shown interest in Al Reef, Al Shamkha and Zayed City.

  • The sales price of villas in Al Reef has averaged AED 2.16M with an ROI of 5.97%. The sales price has been recorded as AED 4.08M for Al Shamkha with an ROI of 3.08% and AED 3.77M for Zayed City with an ROI of 3.35%.
  • The average sales price in Al Ghadeer has jumped from AED 1.97M in Q2 2024 to AED 2.35M in Q3 2024, the highest in the affordable villa segment.
  • For the price per square foot, an increase of 8.54% has been recorded in Al Samha.
  • The sale prices of 3-bedroom villas in Al Reef, Al Shamkha and Zayed City have been AED 1.59M, AED 3.11M and AED 2.55M, respectively.
  • Al Ghadeer has recorded a notable increase of 8.79% in the sale prices of 4-bedroom villas, standing at AED 2.88M.

Properties for Rent in Abu Dhabi

The rental market trends in Q3 2024 have highlighted the following popular areas for renting villas and apartments in Abu Dhabi.

Apartments for Rent

Al Reem Island, Al Raha Beach and Corniche Area have garnered significant attention from tenants in search of luxury apartments.

  • The average annual rent of apartments in Al Reem Island has increased by 10.00%, standing at AED 99k. The rental prices of 1, 2 and 3-bedroom apartments in the area have also increased by 7.25%, 7.37% and 5.22%, respectively.
  • After an increase of 9.73%, the apartment rent in Al Raha Beach has averaged AED 124k. For 1-bedroom flats, it was AED 82k and for 2-bedroom units, it was AED 121k in Q3 2024.
  •  Corniche Area has recorded an average annual rent of AED 114k, after an increase of 5.56% from Q2 2024.
  • The rent of apartments in Yas Island has witnessed a nominal dip of 1.96%, averaging AED 100k in Q3 2024.
  • Saadiyat Island has seen a notable increase of 9.29% in average annual rent, pushing it to AED 153k.

Khalifa City, Al Muroor and Al Khalidiyah have remained in demand for renting affordable apartments in Abu Dhabi.

  • Compared to Q2 2024, the annual rent of apartments in Khalifa City remained unchanged, standing at AED 44k. The rent for studios and 1-bedroom apartments has also stayed steady at AED 31k and AED 44k, respectively.
  • Following a 2.08% decrease, the annual rent in Al Muroor has averaged AED 47k. 
  • Al Khalidiyah witnessed a notable 13.89% increase in annual rent, rising from AED 72k in Q2 2024 to AED 82k in Q3 2024.
  • Hamdan Street and Madinat Al Riyadh have also remained popular among the tenants, with annual rent averaging AED 73k and AED 35k, respectively.

Villas for Rent

According to dubizzle’s trend analysis, the most sought-after areas for renting luxury villas in Q3 2024 have been Yas Island, Al Mushrif and Al Rahba.

  • A slight dip has been observed in the average annual rent of villas in Yas Island and Al Mushrif, making it AED 226k and AED 183k in Q3 2024.
  • In comparison, the asking rent in Al Rahba has increased from AED 161k in Q2 2024 to AED 170k in Q3 2024.
  • Al Raha Gardens and Al Bateen with steady rental prices have also remained popular among the tenants. Al Raha Garden has recorded an average annual rent of AED 244k. For villas in Al Bateen, the rent averaged AED 174k. 
  • Al Raha Gardens has witnessed a noticeable increase of 7.19% in annual rent of 4-bedroom villas, pricing at AED 179k. Change in rent has also been observed in Al Mushrif, where the rent for 6-bedroom villas increased from AED 207k to AED 236k. 

Tenants looking for affordable villas have preferred Mohammed Bin Zayed City, Madinat Al Riyadh and Shakhbout City.

  • The asking annual rent of Mohammed Bin Zayed City has been AED 144k after an increase of 2.86%. After a slight increase, the annual rent of 3 and 4-bedroom villas in the area stood at AED 100k and AED 135k, respectively. 
  • The annual rent of villas in Madinat Al Riyadh has dropped by 3.03%, averaging AED 160k.
  • The asking annual rent of villas in Shakhbout City jumped to AED 153k from AED 151k in the previous quarter.
  • The average annual rent for villas in Al Reef and Al Muroor has decreased by 1.56% and 1.84%, making it AED 126k and AED 160k, respectively.  

Off-plan Properties for Sale in Abu Dhabi

The off-plan properties have continued to garner significant attention in Q3 2024, particularly in areas with future growth potential. Ranging from waterfront luxury villas to serene suburban communities, buyers can choose from an array of property types.

Here is the list of areas along with projects that have remained in demand for buying off-plan apartments and villas in Q3 2024.

Off-plan Apartments for Sale

  • The waterfront community of Yas Bay has become the top choice for luxury off-plan apartments, with an asking price of AED 2.02M. 

  • Buyers have also favoured the City of Lights in Al Reem Island, offering luxury apartments at an average sales price of AED 1.41M.
  • The Saadiyat Cultural District in Saadiyat Island has emerged as one of the most searched-for projects with an average sales price of AED 3.35M.
  • With its strategic location, Al Reeman 1 in Al Shamkha has been the most in-demand affordable off-plan apartment project, with the sales price averaging AED 762k.
  • Royal Park with an average sales price of AED 883k, has also remained a popular option for affordable apartments.
  • Bloom Living in Zayed City, known for its Spanish-inspired architecture, has secured a spot on the list of affordable apartments, with an average price of AED 1.41M

Off-plan Villas for Sale

  • The vibrant Noya Viva Yas Island, with an asking price of AED 3.37M, has remained popular among buyers looking for luxury villas supported by an upscale lifestyle.

  • With an average sales price of AED 8.53M, the Saadiyat Lagoons in Saadiyat Island have emerged as a preferred choice for luxury villa buyers.
  • Reem Hills in Al Reem Island has also topped the list of popular off-plan projects with an average sales price of AED 5.25M.
  • Al Reeman 2 in Al Shamkha has remained a popular choice for buying affordable off-plan villas. The average price of off-plan villas in Al Reeman 2 stood at AED 4.05M.
  • Zayed City’s Bloom Living and Al Hudayriat Island’s Nawayef West have successfully grabbed buyer’s attention. The sales price of villas in Bloom Living and Nawayef West averaged AED 3.71M and AED 16.03M, respectively.

Note to Editor: For an accurate representation of price changes, this report compares the average price-per-square-foot in an area to analyse sales trends for villas and apartments in Q3 2024 to those observed in Q2 2024. These prices are, however, subject to change based on the building, amenities, developer and other deciding factors. For the rental properties, the report compares the average cost for individual unit types between the two periods, in popular Abu Dhabi neighbourhoods.

Disclaimer: The above report is based on listings on dubizzle.com and is not representative of actual real estate transactions conducted in Abu Dhabi except for instances where the DARI has been quoted.

About dubizzle:

dubizzle, the well-known online classifieds giant in the UAE, is an integral part of homegrown unicorn, Dubizzle Group Holdings Limited. As the UAE’s largest classifieds site, dubizzle plays a pivotal role in connecting buyers and sellers across diverse categories such as properties, cars, jobs, and various goods.

The user-friendly platform, coupled with innovative features, has solidified dubizzle as the go-to destination for both buyers and sellers to effortlessly connect and transact. dubizzle takes pride in the unwavering commitment to values of transparency, authenticity and consumer protection, positioning dubizzle as a preeminent platform for ethical online commerce in the UAE.