- Luxury Areas to Buy Luxury Apartments
- Luxury Areas to Buy Luxury Villas
- Affordable Areas to Buy Affordable Apartments
- Affordable Areas to Buy Affordable Villas
The Abu Dhabi real estate market has continued to grow steadily throughout the first three quarters of 2023. The market performance has remained positive in the third quarter as we witnessed an increase in the prices of apartments and villas in both the luxury and affordable segments. Owing to the latest developmental projects and eco-friendly initiatives in the capital city, investors have shown keen interest in Abu Dhabi’s property market.
As we conclude the third quarter of 2023, let’s take a retrospective look at the real estate market performance in Abu Dhabi. This property market report analyses the trends observed on dubizzle in Q3 2023, offering detailed insights into the consumer preferences, prices and ROIs of popular neighbourhoods in Abu Dhabi.
Before we dive deeper into the details, let’s take a quick look at how the market has fared in Q3 2023:
- Al Reef and Al Ghadeer have remained the most sought-after areas for buying affordable apartments and villas.
- Al Reem and Yas Island have taken the top spots as preferred areas for buying luxury apartments in Abu Dhabi.
- Al Reef has stood out with 8.16% ROI, the highest among the popular areas to buy apartments in Abu Dhabi.
- For luxury villas, Yas Island and Saadiyat Island have continued to be the most preferred areas.
- For villas in both the luxury and affordable segments, Hydra Village has led with an impressive ROI of 6.93%.
Popular Areas for Buying Luxury Properties in Abu Dhabi in Q3 2023
dubizzle search trends reveal a notable uptrend in average sales prices for the majority of luxury apartments and villas offered for sale in the capital city.
Popular Areas to Buy Luxury Apartments in Abu Dhabi
The popular areas for buying luxury apartments in Q3 2023 included Al Reem Island, Yas Island, Al Raha Beach and Saadiyat Island. Let’s explore their sales trends one by one.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Reem Island | ROI 6.57% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Yas Island | ROI 6.50% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Raha Beach | ROI 5.81% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Saadiyat Island | ROI 3.74% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
Al Reem Island
Al Reem Island is home to famous spots, such as the Gate Towers, the Arc Tower and the Reem Central Park, among many others. The community offers a beachfront living experience with several waterfront developments. All these factors have made this natural island stand out as the most popular area to buy luxury apartments in Abu Dhabi.
The asking price of apartments for sale in Al Reem Island has averaged at AED 1.27M. Apartments in this community have offered the highest ROI of 6.57%.
- The price per square foot for apartments in Al Reem Island has increased to AED 1,064 after a 2.87% increase from Q2 2023.
- The price of studio apartments for sale in Al Reem Island has averaged AED 592k.
- The average asking prices of 1 and 2-bedroom apartments have been AED 857k and AED 1.42M, respectively.
Yas Island
Yas Island is home to many world-class attractions, including the Yas Marina Circuit, Ferrari World and Yas Waterworld. The presence of such attractions, the availability of high-end amenities and a prime location make Yas Island quite popular among property investors and buyers.
With an average sales price of AED 1.6M and a healthy ROI of 6.50%, Yas Island has been the second most popular area to buy luxury apartments in Abu Dhabi.
- An uptick of 2.85% has taken the average price per square foot to AED 1,402.
- Studio apartments in Yas Island have recorded an average sales price of AED 747k.
- After a moderate increase, 1 and 2-bedroom apartments have recorded average prices of AED 1.09M and AED 1.88M, respectively.
Al Raha Beach
In Q3 2023, buyers also explored Al Raha Beach listings for luxury apartments in Abu Dhabi. Apartments for sale in Al Raha Beach have recorded an average asking price of AED 1.66M. Moreover, the neighbourhood offers a 5.81% ROI based on projected rental yield.
- Compared to Q2 2023, the average price per square foot for apartments in Al Raha Beach has also increased, reaching AED 1,262.
- After a slight increase, the asking price of studio apartments in Al Raha Beach has averaged AED 931k.
- The 1 and 2-bedroom apartments for sale in Al Raha Beach have witnessed an uptick, taking average prices to AED 1.18M and AED 1.72M, respectively.
Additionally, the buyers and investors have shown an inclination towards the high-end apartments in Saadiyat Island. The average asking price has reached AED 3.53M for apartments in Saadiyat Island, recording an ROI of 3.74%.
Popular Areas to Buy Luxury Villas in Abu Dhabi
Yas Island, Saadiyat Island, Al Raha Gardens, Al Reem Island and Al Matar have garnered the interest of people seeking luxury villas in Abu Dhabi.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|
| Yas Island | ROI 4.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Saadiyat Island | ROI 5.83% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Raha Gardens | ROI 5.80% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Reem Island | ROI 6.71% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Matar | ROI 5.89% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
Yas Island
Yas Island has secured the top spot as the preferred location for purchasing upscale villas in Abu Dhabi. This waterfront community is developed and maintained by Aldar, a renowned property developer in Abu Dhabi.
The asking price for villas listed for sale in Yas Island on dubizzle has averaged AED 4.0M. These luxurious properties have delivered an ROI of 4.94%, making them a preferred choice for real estate buyers.
- The quarter-by-quarter increase in the average per-square-foot price of luxury villas in the areas has been around 1.59%, making it AED 1,239 in Q3.
- The sale prices for 3 and 4-bed villas have increased to AED 2.88M and AED 4.31M, respectively.
- On the other hand, the sales price of 5-bed villas has averaged AED 5.46M, after a slight increase in the third quarter.
Saadiyat Island
Saadiyat Island, one of the residential islands of Abu Dhabi, remained the second most attractive option to buy upscale villas in Q3 2023. This waterfront community has recorded an average sales price of AED 8.73M and an impressive ROI of 5.83%.
- The price per square foot for villas in Saadiyat Island has averaged AED 1,422.
- The 3-bed luxury villas have an average price of AED 7.35M, while the price of 4-bed villas averaged AED 7.10M.
- On average, sellers listed 5-bed villas at Saadiyat Island on dubizzle for around AED 10.23M in Q3 2023.
Al Raha Gardens
Al Raha Gardens has also attracted buyers searching for luxury villas in the capital. It is a serene community offering high-end villas with modern architecture. In Q3 2023, the average cost of villas in Al Raha Gardens reached AED 3.07M, after an ROI of 5.80%.
- Luxury villas in Al Raha Gardens have seen a 6.27% uptick in the average price per square foot, reaching AED 886.
- The sale prices for 3 and 4-bed villas have reached AED 2.56M and AED 2.97M, respectively.
- On the other hand, 5-bed villas have witnessed a rise of 7.63% in average sales price, increasing to AED 4.61M.
Following Al Raha Gardens, Al Reem Island has also remained a sought-after area for buyers and investors looking for upscale villas in Abu Dhabi. During Q3 2023, the average sales price to buy villas in Al Reem Island was around AED 4.14M. Among areas popular for luxury houses, this residential island of Abu Dhabi has reported the highest ROI of 6.71% for that quarter.
Lastly, we have Al Matar as one of the most popular areas offering luxury villas for sale in Abu Dhabi. The villas here have an average asking price of AED 3.95M, delivering an ROI of 5.89% in Q3. A wide range of 3, 4 and 5-bed villas for sale in Al Matar are listed on dubizzle.
Popular Areas for Buying Affordable Properties in Abu Dhabi in Q3 2023
The affordable property segment in Abu Dhabi has witnessed a mix of trends, depicting a price rise in some areas and a slight drop in others. Let’s look at the communities that have remained popular for budget-friendly villas and apartments in Abu Dhabi.
Popular Areas to Buy Affordable Apartments in Abu Dhabi
The most sought-after areas for purchasing affordable apartments in Abu Dhabi include Al Ghadeer, Al Reef, Masdar City and Baniyas.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023 | Studio | 1-Bed | 2-Bed |
|---|---|---|---|---|---|
| Al Ghadeer | ROI 7.90% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Al Reef | ROI 8.16% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Masdar City | ROI 7.61% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
| Baniyas | ROI 5.55% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| Studio
| 1-Bed
| 2-Bed
|
Al Ghadeer
Al Ghadeer, another Aldar project, stood out among popular areas to buy affordable apartments in Q3 2023. The area has recorded an average price of AED 556k for affordable houses and yielded an ROI of 7.90% in Q3.
- The price per square foot for apartments in Al Ghadeer has increased to AED 730.
- Studio apartments in Al Ghadeer have witnessed an average sales price of AED 388k after a small drop.
- Moreover, 1 and 2-bedroom apartments in Al Ghadeer have averaged AED 521k and AED 704k, respectively.
Al Reef
Al Reef has remained the second most searched area for buying affordable apartments among dubizzle users. With the highest ROI of 8.16%, Al Reef is one of the areas offering apartments at an impressive ROI in Abu Dhabi. Furthermore, AED 785k has been the average asking price of apartments in Al Reef.
- Apartments in Al Reef have seen a marginal increase of 2.55% in price per square foot, now standing at AED 654.
- After a slight drop, the price for buying studio and 2-bedroom units in Al Reef has averaged AED 476k and AED 771k.
- Meanwhile, 1-bedroom apartments have seen an uptick, taking the average sales price to AED 570k in Q3 2023.
Masdar City
One of the first free zone areas in Abu Dhabi, Masdar City, ranks third on the list of popular areas offering affordable apartments for purchase. This sustainable community operates entirely on solar energy and utilises renewable resources for its daily functions. For this reason, Masdar City has a pristine and eco-friendly environment.
These factors have resulted in a higher interest from investors looking to buy budget-friendly apartments in Abu Dhabi. With an influx of new developments, the asking prices for apartments have seen a decline, taking the average asking sales price of AED 838k. Apartments in Masdar City also offer an impressive ROI of 7.61%, making it one of the preferred choices.
- Apartments in Masdar City have witnessed a decrease of 7.36% in per-square-foot price compared to Q2 2023, now standing at AED 1,198.
- Masdar City is one of the popular areas to buy studio apartments in Abu Dhabi. On average, studio apartments in Masdar City have a sales price of AED 534k.
- Similarly, the average prices for listed 1-bed and 2-bed flats in Masdar City have decreased to AED 756k and AED 1.16M.
Investors on a budget have also shown interest in buying apartments in Baniyas. Offering a decent ROI of 5.55%, the prices of flats for sale in Baniyas have seen a slight increase, taking average prices to AED 1.08M.
Popular Areas to Buy Affordable Villas in Abu Dhabi
Notable locations for buying affordable villas in Abu Dhabi include Al Reef, Al Ghadeer, Khalifa City, Hydra Village and Al Shamkha.
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|
| Al Reef | ROI 6.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Ghadeer | ROI 6.34% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Khalifa City | ROI 4.53% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Hydra Village | ROI 6.93% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
| Al Shamkha | ROI 3.42% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q2 2023
| 3-BED
| 4-BED
| 5-BED
|
Al Reef
Al Reef has continued to be one of the most popular villa communities in Abu Dhabi, The community is divided into two further sub-communities; Al Reef Villas and Al Reef Downtown. Moreover, residents of Al Reef enjoy proximity to Abu Dhabi International Airport and the city centre.
In Q3 2023, the average asking price for villas in Al Reef has increased to AED 2.06M. Besides, the villas in Al Reef have yielded an ROI of 6.08%.
- The price per square foot for villas in Al Reef has reached AED 730.
- Following a minor decline, the average sales price of 3-bed villas in Al Reef was AED 1.58M in Q3 2023.
- Whereas 4-bed and 5-bed villas have increased, recording average sales prices of AED 2.23M and AED 2.54M, respectively.
Al Ghadeer
Based on user search trends on dubizzle, Al Ghadeer emerged as the second most sought-after area for buying affordable villas in Abu Dhabi in Q3 2023. The area is home to several non-luxury houses, which have an average buying price of AED 1.87M. Also, the villas in Al Ghadeer have offered a fine ROI of 6.34%, estimated from the rental yield.
- The average price per square foot for affordable villas in Al Ghadeer has seen a decline to AED 798.
- Consequently, the sale prices for 3-bed villas have dropped to AED 1.76M and AED 2.33M for 4-bed villas.
Khalifa City
Khalifa City is famous for housing the head office of Etihad Airways, Abu Dhabi Golf Club and Al Forsan Sports Resort. The suburb is located between the Dubai and Al Ain highways and is a 15-minute drive away from the Abu Dhabi International Airport.
The asking price for buying a house in Khalifa City averaged AED 6.86M in Q3 2023, offering a return of 4.53%.
- The price per square foot for budget-friendly villas in Khalifa City has been AED 710.
- Sales prices for 3 and 4-bedroom villas have recorded an increase to AED 4.06M and AED 6.0M.
- Meanwhile, 5-bedroom houses in Khalifa City have slightly declined to AED 6.90M.
Based on dubizzle search trends, Hydra Village has also appeared as an attractive option for buyers looking to invest in budget-friendly villas in Q3 2023. Being one of the villa communities in Abu Dhabi offering the best ROI, Hydra Village has recorded the highest returns of 6.93% during Q3 2023. The sales price of villas in Hydra Village has averaged AED 977k.
Lastly, Al Shamkha has also made its mark as a popular area for buying non-luxury villas in Abu Dhabi. To buy a villa in Al Shamkha, the asking price has seen a minor drop to AED 3.75M. The budget-friendly area recorded an ROI of 3.42% in Q3 2023.
This brings us to the end of our comprehensive Abu Dhabi sales market report for Q3 2023. The impact of reduced sales prices has undeniably favoured buyers and investors in several areas. Property owners in other areas have benefited from higher asking prices due to the continuous expansion of urban infrastructure.
Overall, the Abu Dhabi property market remains a relatively attractive investment proposition. The city is home to a growing population and a diversified economy and there is a strong demand for both residential and commercial property.
That said, individuals keen on investing in the thriving real estate market have the opportunity to explore these properties for sale in Abu Dhabi.
Keep an eye on all the latest property trends and developments in the UAE, stay tuned to dubizzle’s property blog!
Disclaimer: The data provided in the Q3 2023 sales market report of Abu Dhabi is derived from the average prices of properties listed on dubizzle.com. It is important to note that these figures do not represent actual real estate transactions that have occurred in the Emirate.
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