Sign in
Sign up
In Q1 2023, the value of real estate transactions in the capital of the UAE increased by 147% compared to the same indicator in 2022, and the concluded purchase and sale agreements increased by 66%. Such data is contained in the report of the Department of Municipalities and Transport of the Emirate.
Compared to Q4 2022, in the first 3 months of 2023, the sale of ready-made properties in the luxury housing segment increased almost 4 times, and the sale of secondary real estate increased by 20%.
Content:
- Reasons for the growth of real estate demand
- Abu Dhabi is a "smart" city
- Why do foreigners choose Abu Dhabi?
Reasons for the growth of real estate demand
Experts explain the increase in activity in the Abu Dhabi real estate market by the changes in the emirate that have been taking place in the last few years. Abu Dhabi is becoming one of the fastest growing economies in the Middle East. Thus, in 2022, the emirate's GDP increased by 9.3%. The capital of the emirate is being rebuilt, becoming one of the most attractive cities in the Arab Emirates.
According to experts, other reasons for the attractiveness of Abu Dhabi for real estate buyers are relatively low prices for objects, as well as the fact that construction companies have begun to implement luxury residential projects here, which were almost non-existent in the UAE capital before.
Abu Dhabi is a "smart" city
According to the annual rating of the International Institute for Management Development Smart City Index, the capital of the UAE entered the list of the 20 most "smart" cities in the world, taking 13th place. Experts have identified how innovative technologies improve the quality of life and solve the everyday problems of urban residents. Abu Dhabi's place in this list indicates the emirate's notable progress in the field of sustainable development. Thanks to this, citizens of different countries are increasingly choosing the capital of the UAE as their permanent place of residence. Experts note the growing demand for real estate in the emirate among immigrants from CIS countries, Europe and India.
Why do foreigners choose Abu Dhabi?
Expats living in Abu Dhabi identify several reasons why they moved to this city: good business prospects, plenty of opportunities for recreation, diverse cultural life of the metropolis, rich infrastructure of the city, developed health care system, loyal attitude to foreigners, high salaries for good specialists, absence of corruption and bureaucratic delays.
