Abu Dhabi records 41% rise in realty deals in Q3

In terms of value, registered sales during the quarter reached around Dh5.16 billion



Abu Dhabi skyline and landmarks. Picture for illustrative purposes.  - File photo
Abu Dhabi skyline and landmarks. Picture for illustrative purposes. - File photo
by

Somshankar Bandyopadhyay

Published: Mon 21 Nov 2022, 5:32 PM

In Abu Dhabi, registered real estate sales reached 1,835 transactions compared to 1,299 transactions in Q3 2021, recording a sharp increase of 41 per year on year, and 11 per cent quarter-on-quarter, driven by the outstanding performance for the off-plan transactions, Property Finder Market Watch, the latest quarterly report from Property Finder, showed on Monday.

In Q3 2022, the off-plan sales transaction witnessed a new record for a quarter by achieving 1,222 sales transactions in Q3. The market saw an incredible increase of 74 per cent year on year and a 24 per cent increase compared to Q2 2022, which is considered one of the best performances of the off-plan market for the last years.

In terms of value, registered sales during the quarter reached around Dh5.16 billion compared to Dh3.9 billion in Q3 2021, an increase of 31 per cent year on year and 13 per cent quarter on quarter.

“The market prices increased due to the attraction of global investors due to the stability of the economic environment, the revival in tourism figures, the successful vaccine procedures, and the scaling back of the Covid-19 restrictions,” the Property Finder report said.


More news from Property