Activity levels across the UAE’s real estate sectors have seen a marked increase in the third quarter of 2021. Over the course of the recent past the vast majority of activity has originated from incumbents, however, we are once again beginning to see increased levels of interest from international investors.
Key takeaways from the report include:
- Prime rents in Abu Dhabi increased by 2.95% in the year to Q3 2021
- Average Prime, Grade A, Grade B and Grade C rents fell by 6.2%, 4.1%, 6.5% and 6.4% respectively in the year to Q3 2021
- In the residential sector, average prices in Abu Dhabi and Dubai increased by 2.2% and 4.4% respectively in the year to August 2021
- In Dubai, preliminary estimates show that residential transaction volumes increased by 76.8% in the year to date to September 2021, compared to the same period a year earlier
- In the UAE’s hospitality sector. In the year-to-date to August 2021, the average occupancy rate rose 11.4 percentage points, the average ADR increased 2.3% and as a result we have seen the average RevPAR increase by 26.1%.