Rents in Abu Dhabi have increased at a faster pace than property prices, with demand outpacing supply, according to industry experts. The city witnessed its sharpest rental growth in over a decade, with a 15 percent year-on-year rise, particularly in prime areas like Saadiyat Island and Yas Island, as reported by Cushman and Wakefield Core. In contrast, property sales saw a steady 9 percent increase.
Prathyusha Gurrapu, head of research and consultancy at Cushman & Wakefield Core, highlighted in a Khaleej Times report that villa rents grew by 10 percent, while apartment rents surged by 16 percent. In specific areas, Saadiyat Island and Yas Acres saw villa rental increases of 14 percent and 13 percent, respectively, while apartment rents on Yas Island rose by 15 percent.
The launch of Abu Dhabi’s first official rental index by the Abu Dhabi Real Estate Centre (ADREC) in August aims to enhance market transparency and stabilize rent prices. Meanwhile, 2,431 new residential units have already been handed over this year, with an additional 1,950 expected by the end of 2024.
