In the first quarter of 2022, just over 3,300 transactions worth more than AED 11.3 billion (USD 3.076 billion) were made, which suggests that the Abu Dhabi real estate market is off for a good start. According to Zoom Property Insights, the second quarter’s performance is going to be similar, laying the foundation for a successful year 2022.
In 2021, 6,000 residential properties entered the Abu Dhabi real estate market. In 2022, however, their number will be even greater. Analysts forecast that by the end of 2022, several thousand more properties will become available in the market, so their total amount will exceed 7,000 units. As a result, house prices will keep growing in the second half of the year, albeit at slower rates. Some data suggests that the demand for luxurious residences in island communities, such as Yas and Saadiyat Islands, will also continue to rise in the second half-year.
Ata Shobeiry, CEO at Zoom Property, forecasts that the Abu Dhabi real estate market will be developing well in the second half of 2022 due to new mega projects, extension of Etihad Rail, and growing oil prices.
Best locations in which to purchase villas and apartments
Saadiyat Island is at the top of the list of communities in which to purchase upscale apartments worth about AED 1,550 (USD 422) per square meter. Yas Island and Al Raha Beach came second and third, with the prices of AED 1,270 and AED 1,220 (USD 346 and USD 332) respectively. The data from Zoom Property Insights suggests that the value of homes in these communities will keep increasing in the second half of the year.
