Abu Dhabi breaks mortgage records in Q3 with $3.7bn deals
RIYADH, October 1, 2024
Abu Dhabi's mortgage market witnessed a robust 20% increase in Q3 2024, with transactions totalling AED13.5 billion ($3.7 billion) across 2,594 deals. This marks the highest quarterly volume in several years, reported Wam.
The total value of real estate transactions from the beginning of this year until the end of September reached AED55.6 billion.
This was achieved through nearly 18,000 sales and mortgage transactions involving various types of units, with AED30.5 billion from sales and AED25.1 billion from mortgages.
According to Dari, a comprehensive digital platform designed to serve Abu Dhabi's real estate sector, the real estate sector in the emirate continued to thrive during this period, with total real estate transactions amounting to AED22.7 billion.
The emirate achieved a total sales value of AED9.2 billion, selling 3,161 real estate units. This included AED4.1 billion from 1,480 completed units and AED5.1 billion from 1,681 off-plan units, it stated.
In the past nine months, 10,440 real estate units were sold, including 4,137 completed units and 6,303 off-plan units.
The total number of mortgage transactions was 7,559. Last week alone, the value of real estate transactions exceeded AED0.5 billion, totalling AED233.5 million in sales and AED366.3 million in mortgages.
