For the year 2023 according to the DirectSB Annual Sales Report of Abu Dhabi property, Investors in real estate in the city of Abu Dhabi earned more than 8% of profits in a few selected units in the last year.
Setting up the context, property specialists at DirectSB recently came up with the 2023 Abu Dhabi Annual Sales Market Report that looked into sales figures and derived trends for sales in Abu Dhabi the previous year.
Further, relevant learning is reviewed on prime locations that offer cheap as well as upscale accommodations including apartments and villas in the city.
Abu Dhabi property investment
Abu Dhabi has seen great growth as far as performing a massive expansion in the investment in housing is concerned.
According to the research explained by DirectSB, another key focus in the sales Market of Abu Dhabi is the demand for luxury properties.
A few more additional wealthy residents and High-Net-Worth Individuals (HNWI) who wish for modern and classy houses have evolved in the emirate. These have been spurred by the need to have quality sheds for the more complex markets that as can be observed from the list above are trendy.
Luxury property in Abu Dhabi
Luxury apartments in Abu Dhabi
The following localities were preferred by HNWIs (high net worth people) in 2023, according to the DirectSB report: Comparing the results of DirectSB, the following localities were chosen by HNWIs (high net worth people) in 2023:
- Island of Al Reem
- Island of Yas
- Island of Saadiyat
Al Reem Island remains the most suitable option for people who are planning to purchase luxurious flats in Abu Dhabi due to the firm’s reputation of being the best supplier of the selection of premium properties. Given the available flats in Al Reem Island, the mean price per sq ft was AED 1048; it has appareled up merely by 0. 73% from 2022.
Internationally known for today’s elite and fashionable activities, Al Raha Beach is the second most preferred district in Abu Dhabi to buy a luxury flat.
In terms of targeting the HNWI intending to buy the luxurious villas in Abu Dhabi in 2023, location preference, Yas Island was also one of the most preferred locations.
Luxury villas in Abu Dhabi
The DirectSB research states that the following neighborhoods in Abu Dhabi were the greatest places to buy upscale villas last year: The DirectSB research states that the following neighborhoods in Abu Dhabi were the greatest places to buy upscale villas last year:
- Yas Island
- Saadiyat Island
- Al Raha Gardens
When it came to a luxury house that one would want to purchase for a family the best choice was the Yas Island in Abu Dhabi. The villa that was for sale in Yas Island had an average price per sq ft of AED 1,149, which was slightly down by 0. 2% from 2022.
Self-made wealthy also appreciated Saadiyat Island as a luxurious area where they could buy luxurious properties in the city. Thus, the price per square foot of the sale of residences in Saadiyat Island increased by 12 for the selected period. 9 percent in 2023 rising to AED 1,934. This can be attributed to the fact that houses especially in Saadiyat Beach and HIDD Al Saadiyat are been listed at higher prices to cater to the increasing demand.
Affordable property in Abu Dhabi
Affordable apartments in Abu Dhabi
The general price fluctuation has also been identified to have different trends in the overall market of residential properties in Abu DAbe in 2023 as inspected in this research. The Abu Dhabi yearly sales market report states that purchasers on a tight budget were drawn to places like The Abu Dhabi yearly sales market report states that purchasers on a tight budget were drawn to places like:
As for the information obtained from DirectSB, Al Reef Al Ghadeer, Khalifa City, and Hydra Village, the emirate’s most affordable flat remains within reach due to the relatively low price of 822,776 AED. The average price of a Flat in Al Reef for sale was recorded to be AED 644, which is 2 percent. Fruit and vegetable consumption stays at 05 percent below the level to be consumed per capita in 2022.
Al Ghadeer remained the second favorite neighborhood in Abu Dhabi for the purchase of cheap apartments. The average price per square meter for apartments for sale in Al Ghadeer rose somewhat to Dh 717, a 0. Twenty-three of them are new, and the total number of citations increased by 33 percent from the previous year, for those who are interested.
Affordable villas in Abu Dhabi
The reasonable prices of villas; Al Reef, Khalifa City, Samha, Al Ghadeer, and Hydra Village were the best over the year according to the 2023 real estate market research done by Directsb. Al Reef maintained being the most easily sellable option that was being offered at relatively affordable prices to the citizens in the UAE capital. The average price per square meter of Villas for sale in Al Reef now stands at approximately AED 718 which is a 1. 3% rise from 2022.
This makes Khalifa City an ideal place of investment because it attracted investors who were in search of villas within the emirate but at a cheaper price. Similarly, in Khalifa City, the average price per sq ft of the size of villas listed for sale increased by 1. 84 percent to AED854 in 2023.