Dubai’s best neighbourhoods for ROI, property price increases, sales and more revealed in dubizzle report
As the Dubai real estate market continues to thrive neighbourhoods are witnessing returns on investment of up to 11.18 percent, affordable districts are witnessing price growth and one region has seen average villa prices hit AED38.15m ($10.4m), according to dubizzle’s quarterly search trend report.
The online platform said increases to property prices underscores increasing demand in the sector and points towards the continued confidence of buyers and tenants.
Spurred on by Golden Visa offers, financial transparency, investor-friendly initiatives and a strategic tax-free framework Dubai’s position as a prime real estate hub have been further underlined.
Dubai real estate data
The dubizzle report identified top locations for villa and apartment sales, returns on investments
Dubai Hills Estate has continued its reign as the premier destination for luxury villas, with an average sales price of AED17.16m ($4.7m). Business Bay, meanwhile, dominated the luxury apartment market with average sales price in this sought-after area of AED2.18m ($594,000), according to dubizzle search trends.
Mohammed Bin Rashid City has delivered the highest ROI for luxury villas at 5.56 per cent, while Dubai Creek Harbour has led the luxury apartment sector with an impressive 6.2 per cent ROI in Q3 2024.
When it comes to affordable villa communities, DAMAC Hills 2 (Akoya by DAMAC) emerged as the top pick, with an average asking price of AED1.91m ($520,000).
Jumeirah Village Circle (JVC) remained the go-to destination for affordable apartment seekers, with an average sales price of AED1.16, ($316,000).
Dubai Investment Park (DIP) led the affordable apartment segment and offered a notable ROI of 11.18 per cent. Meanwhile, affordable villas in Jumeirah Village Circle (JVC) yielded an impressive 8.35 per cent ROI, making it a hotspot for savvy investors.
Haider Ali Khan, CEO of dubizzle and Head of Dubizzle Group MENA, said: “We can all see that Dubai’s property market is growing at an unprecedented pace, with each quarter surpassing the last. This remarkable growth is driven by a combination of factors; investor-friendly initiatives, enhanced financial and transactional transparency, a seamlessly integrated legal framework, and a booming off-plan sector.
“Forward-thinking initiatives such as golden visas for investors and government-backed residency programs have also accelerated this growth, keeping demand consistently high for both luxury and affordable properties across top neighbourhoods.
“This can also be seen from the latest data from the Dubai Land Department, which clearly shows the market has maintained its upward trajectory, recording an 11.19 per cent increase in total sales transaction volume compared to Q2 2024”.
The dubizzle search trend analysis identified the most popular areas for buying apartments and villas in Dubai during Q3 2024.
Apartments for sale in Dubai
Business Bay, Dubai Marina and Downtown Dubai have continued to lead as the top three destinations for luxury apartment buyers. The immense popularity of these neighbourhoods is driven by proximity to iconic landmarks in the heart of Dubai and convenient access to the vibrant city centre.
Business Bay secured the top spot with an average asking price of AED2.18m ($594,000) and a ROI of 5.76 per cent. Dubai Marina followed closely, offering an average sales price of AED2.56m ($697,000).
Price per square foot has risen by 1.13 per cent in Business Bay and 2.79 per cent in Dubai Marina, reaching AED2,349 ($640) and AED 2,139 ($582), respectively.
Downtown Dubai, with an average sales price of AED3.89m ($1.1m) and Dubai Creek Harbour, at AED2.82m ($768,000), have remained preferred choices for luxury apartment buyers. Dubai Creek Harbour also recorded the highest ROI (6.2 per cent) for luxury apartments in Q3 2024.
For those seeking affordable apartments, Jumeirah Village Circle (JVC), Dubai Silicon Oasis (DSO) and International City have emerged as the top choices in Q3 2024.
An average sales price of AED 1.16m ($316,000) was recorded for apartments in JVC, with an attractive ROI of 7.44 per cent. Prices for studios, one and two-bedroom units in JVC have increased by 3.38 per cent, 5.04 per cent and 3.72 per cent, respectively.
Silicon Oasis has witnessed an 8.45 per cent increase in per-square-foot prices, with the average sales price reaching AED927,000 ($252,000). In International City, prices have climbed to AED522,000 ($142,000).
Sports City and Dubai Investment Park (DIP) have also continued to capture the attention of affordable apartment buyers and budget-savvy investors, marking their spots among sought-after neighbourhoods in the property market.
Villas for Sale in Dubai
High-end villa communities such as Dubai Hills Estate, Palm Jumeirah and DAMAC Hills have captured the attention of buyers and investors, securing the top three spots in the luxury villa segment during Q3 2024.
Dubai Hills Estate has continued to top the list with an ROI of 4.5 per cent and an average sales price of AED17.16m ($4.7m). The per-square-foot price in the area has risen by 3.4 per cent, reaching AED2,545 ($693) in Q3 2024.
Palm Jumeirah’s luxury villas have commanded an average price of AED38.15m ($10.4), delivering an ROI of 4.25 per cent in Q3 this year. Meanwhile, DAMAC Hills has recorded a 5.48 per cent ROI with an average price of AED 6.91m ($1.9) for luxury villas.
Luxury villa seekers have also favoured Mohammed Bin Rashid City and Jumeirah Park, where per-square-foot prices have increased by 3.79 per cent and 5.9 per cent, respectively. Mohammed Bin Rashid City also took the lead with the highest return for luxury villas, posting a 5.56 per cent ROI in Q3 2024.
For affordable villa options, DAMAC Hills 2 (Akoya by DAMAC), Al Furjan and Jumeirah Village Circle (JVC) also emerged as the most-searched areas.
DAMAC Hills 2 (Akoya by DAMAC) has offered affordable villas with an average price of AED1.91m ($521,000) and an impressive ROI of 7.16 per cent. The per-square-foot price has increased by 1.81 per cent, reaching AED 871 ($237) in Q3 2024.
Al Furjan has recorded a notable 7.67 per cent increase in per-square-foot prices, reaching AED1,342 ($365). On the other hand, Jumeirah Village Circle (JVC) and Dubailand have seen a slight decrease in per-square-foot villa prices, dropping to AED 1,173 ($319) and AED 1,317 ($359), respectively.
Dubai South has experienced a significant price increase, with per-square-foot rates climbing 5.71 per cent to AED 1,139 ($310) in Q3 2024, highlighting the area’s growing appeal amid rapid development.
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