Tuesday, 02 January 2024 12:17 GMT

Abu Dhabi Home Resales Jump 56% As Buyers Rush For Projects Nearing Handover


(MENAFN- Khaleej Times) Homebuyers in Abu Dhabi are increasingly snapping up properties in projects nearing completion, as rising prices across several established communities and a sharp increase in resales point to continued demand in the capital's housing market.

Abu Dhabi's off-plan secondary property market recorded a 56 per cent quarter-on-quarter jump in transactions in Q2 2026, as buyers increasingly targeted projects moving closer to handover, according to Crompton Partners.

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The estate agency recorded 883 off-plan secondary transactions during the quarter across 25,422 active units, up from 567 transactions in the first quarter.

Yas Island remained the center of activity, accounting for 366 transactions, or more than 40 per cent of the quarterly total. Yas Island Apartments recorded 245 deals, while North Yas accounted for another 121.

Gardenia on Yas Island was the busiest individual project, with 156 transactions.

Near handover projects attract buyers

Some of the highest turnover rates were recorded in developments approaching completion. Sustainable City led with an annual turnover rate of 18.8 per cent, followed by Yas Golf Collection at 17.9 per cent, Reem Eleven at 16.1 per cent and Manarat Living 1 at 15.4 per cent.

Ben Crompton, Managing Partner of Crompton Partners, said buyers were becoming more selective, with stronger liquidity emerging in well-priced developments where completion was clearly visible.

He said handover timing, product, pricing and the depth of the resale market were becoming increasingly important in determining performance.

Activity also broadened beyond Abu Dhabi's main island communities. The outskirts recorded 235 off-plan secondary transactions, led by Al Reeman with 148 sales and Bloom Living with 80.

Saadiyat Cultural District recorded 97 secondary off-plan transactions, while Saadiyat South posted 139.

Reem Island leads established market

Across six established areas tracked by Crompton Partners, 483 properties worth Dh1.25 billion changed hands during the second quarter.

Reem Island remained the most active established residential market, with 223 transactions worth Dh399.3 million.

Prices also recorded strong annual gains across several Reem communities. Average prices per square metre rose 33.6 per cent at Sun Sky Gate, 27.1 per cent in Najmat, 25.7 per cent at Marina Square, 20.2 per cent in City of Lights and 19.8 per cent across Shams Reem Island.

Al Reef recorded 108 transactions worth Dh183.7 million, with Al Reef Villas 2 posting a 59.3 per cent annual increase in average prices. Al Reef Apartments rose 40.2 per cent.

On Yas Island, average prices increased 57.6 per cent at Yas Acres, 32 per cent at Water's Edge and 29.2 per cent at Noya.

Saadiyat Island commands premium values

Saadiyat Island remained the highest-value market among the areas tracked.

Just 13 transactions generated Dh273.6 million in sales during the quarter, including Dh205.5 million from six transactions at HIDD.

Mamsha remained the highest-priced community in the report at Dh57,365 per square metre, while Saadiyat Beach Villas posted an 83.9 per cent annual price increase.

Crompton cautioned that percentage movements in communities with very low transaction volumes should be treated carefully.

He said Abu Dhabi was increasingly becoming a market where individual communities and projects perform differently, making transaction liquidity, buyer demand and proximity to completion more important than broad market

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Khaleej Times

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