Abu Dhabi’s Property Market Booms: An 83% Surge in Home Sales Attracts Global Digital Nomads and Expats

According to a recent report by Savills, the property market in Abu Dhabi witnessed a significant upswing in 2023, with an 83% increase in home sales, predominantly driven by the arrival of digital nomads and expatriates.

In 2023, 11,200 homes were sold in the emirate, marking a substantial rise from the previous year. This surge in demand for both villas and apartments has been attributed to various government initiatives, a robust economy, and the launch of new projects.

Savills highlighted the growing appeal of Abu Dhabi for expatriates and digital nomads, noting that the emirate ranked fourth in their Executive Nomad Index, following Dubai, Malaga, and Miami. The emirate is especially popular among Northern European executive nomads, offering remote working and golden visas to attract property investors and global talent in creative industries, financial services, and start-ups.

As stated by Stephen Forbes, Head of Savills Abu Dhabi, the increased demand for housing has resulted in a significant number of new project launches, with over 8,000 units introduced last year. He also noted an improvement in market transparency, making the emirate more attractive to a broader range of investors and end-users.

Regarding sales, high-end villas and townhouses remained in demand, with 4,800 units sold, representing 43% of the total sales in 2023. Off-plan units were trendy, accounting for 84% of all villa and townhouse sales, with a strong preference for waterfront locations such as Saadiyat Island, Yas Island, and Al Reem Island.

Apartments were the most sought-after property type, making up 57% of the total transactions, with off-plan units comprising 69% of the demand.