(MENAFN) The Abu Dhabi Real Estate Center, operating under the Department of Municipalities and Transport - Abu Dhabi, has unveiled remarkable statistics showcasing the emirate's exceptional performance in the real estate market throughout 2023. According to the center's findings, the volume of real estate transactions surged to a record-breaking 87.1 billion dirhams, signaling robust growth and investor confidence in the region's property sector.
In a significant uptick, the center observed a substantial increase in both buying and selling transactions, totaling 15,653 transactions—an impressive surge of 73.7 percent compared to the corresponding period in 2022. Moreover, the cumulative value of these transactions amounted to 61 billion dirhams, marking a staggering rise of 159.5 percent compared to the previous year. These figures underscore the buoyancy of Abu Dhabi's real estate market and its attractiveness to investors seeking lucrative opportunities.
The Abu Dhabi Real Estate Center further highlighted a notable uptrend in buying, selling, and mortgage transactions across the emirate, reflecting a 12.2 percent increase compared to 2022. This surge in activity translated into a total of 22,751 real estate transactions recorded in 2023, representing a robust uptick of 19.5 percent compared to the preceding year. Such significant growth signals the resilience and dynamism of Abu Dhabi's real estate sector amid evolving market dynamics and economic fluctuations.
An encouraging aspect of this surge is the substantial rise in the number of both local and non-resident investors participating in Abu Dhabi's real estate market during 2023. The data revealed a notable increase in new local investors, with their numbers reaching 9,448—a remarkable surge of 71 percent compared to the previous year. Similarly, the number of non-resident investors also witnessed a significant spike, totaling 1,098 investors—a remarkable increase of 175 percent. These statistics underscore the emirate's enduring appeal and continued prosperity in attracting diverse investor profiles, further solidifying its position as a thriving hub for real estate investment.
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