Abu Dhabi sees 102% Surge in Residential Rental Contracts in H1-24

ABU DHABI: The first half of 2024 has seen a dramatic surge in documented residential rental contracts in Abu Dhabi. A total of 49,135 contracts were registered, marking a substantial increase of 24,811 contracts from the same period in 2023. This represents an impressive 102% year-on-year growth.

According to data from the Statistics Centre—Abu Dhabi, the majority of these contracts were concentrated in Abu Dhabi city itself. The capital accounted for 43,985 of the total contracts, reflecting a remarkable 104.9% increase compared to the 21,465 contracts recorded in the first half of 2023.

Al Ain City also experienced significant growth in rental contracts. Documented agreements in Al Ain reached 4,819 in H1 2024, a 77% increase from the 2,715 contracts registered in the same period last year.

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In contrast, the Al Dhafra region saw a more modest increase, with 331 contracts reported in the first half of 2024, up from 144 contracts in the previous year.

June was notable for its growth in rental contracts, marking the second-highest increase on a year-on-year basis, following March, which saw the largest rise at 2.9%.

This substantial growth across Abu Dhabi and Al Ain underscores a robust demand for residential properties and a dynamic rental market in the region.