Dubai’s real estate market is booming, with neighborhoods experiencing returns on investment as high as 11.18%. Affordable districts are also seeing price increases, while some villa prices have reached an average of AED 38.15M ($10.4M). According to Dubizzle, the rising property prices reflect the growing demand and confidence of both buyers and tenants in the sector. Boosted by initiatives like the UAE Golden Visa, financial transparency, and a tax-free investment environment, Dubai continues to solidify its reputation as a top global real estate hub.
Dubai Real Estate Market Updates
Jumeirah village circle Dubai
According to a recent report by dubizzle, Dubai’s real estate market continues to thrive, with top locations for villa and apartment sales delivering impressive returns on investment (ROI).
Dubai Hills Estate remains the premier destination for luxury villas, boasting an average sales price of AED 17.16M ($4.7M). In the luxury apartment sector, Business Bay leads the market with an average sales price of AED 2.18M ($594,000), as revealed by dubizzle search trends.
For investors seeking high ROI, Mohammed Bin Rashid City tops the list for luxury villas with a 5.56% ROI, while Dubai Creek Harbour dominates the luxury apartment sector with an impressive 6.2% ROI in Q3 2024.
In the affordable villa category, DAMAC Hills 2 (Akoya by DAMAC) emerged as a top choice, with an average asking price of AED 1.91M ($520,000). Jumeirah Village Circle (JVC) remains a popular destination for affordable apartments, with an average sales price of AED 1.16M ($316,000).
Dubai Investment Park (DIP) leads the affordable apartment segment, offering a notable ROI of 11.18%. Additionally, affordable villas in Jumeirah Village Circle (JVC) delivered an impressive ROI of 8.35%, making it an attractive option for investors.
Data from the Dubai Land Department reflects this ongoing upward trend, showing an 11.19% increase in total sales transaction volume compared to Q2 2024.
Apartments for Sale in Dubai
Dubai Downtown
Business Bay, Dubai Marina, and Downtown Dubai continue to dominate as the top destinations for luxury apartment buyers. These areas are highly sought after due to their proximity to iconic landmarks and easy access to Dubai’s vibrant city center.
Business Bay leads the luxury apartment market with an average asking price of AED 2.18M ($594,000) and a return on investment (ROI) of 5.76%. Dubai Marina follows closely with an average sales price of AED 2.56M ($697,000). The price per square foot has risen by 1.13% in Business Bay, reaching AED 2,349 ($640), while Dubai Marina saw a 2.79% increase to AED 2,139 ($582).
Downtown Dubai remains a popular choice for luxury apartment buyers, with an average sales price of AED 3.89M ($1.1M). Dubai Creek Harbour, with an average price of AED 2.82M ($768,000), also stood out, recording the highest ROI for luxury apartments at 6.2% in Q3 2024.
For those looking for affordable apartments, Jumeirah Village Circle (JVC), Dubai Silicon Oasis (DSO), and International City emerged as the top choices in Q3 2024. JVC recorded an average sales price of AED 1.16M ($316,000) with a strong ROI of 7.44%. Silicon Oasis saw an 8.45% increase in per-square-foot prices, reaching AED 927,000 ($252,000). In International City, prices climbed to AED 522,000 ($142,000).
Sports City and Dubai Investment Park (DIP) continue to attract affordable apartment buyers and investors, making them prime areas in the property market.
Click here to explore all available apartments for sale in Dubai!
Villas for Sale in Dubai
Palm Jumeirah
Dubai’s high-end villa communities, such as Dubai Hills Estate, Palm Jumeirah, and DAMAC Hills, remain the top spots for luxury villa buyers in Q3 2024.
Dubai Hills Estate tops the list with an ROI of 4.5% and an average sales price of AED 17.16M ($4.7M). The per-square-foot price in this luxury community rose by 3.4% to AED 2,545 ($693). Palm Jumeirah’s luxury villas commanded an average price of AED 38.15M ($10.4M), delivering a 4.25% ROI, while DAMAC Hills recorded a 5.48% ROI with an average villa price of AED 6.91M ($1.9M).
Luxury villa buyers also favored Mohammed Bin Rashid City and Jumeirah Park, which saw per-square-foot price increases of 3.79% and 5.9%, respectively. Mohammed Bin Rashid City led the market with the highest ROI for luxury villas, posting 5.56% in Q3 2024.
For affordable villas, DAMAC Hills 2 (Akoya by DAMAC), Al Furjan, and Jumeirah Village Circle (JVC) were the most-searched areas. DAMAC Hills 2 offered affordable villas at an average price of AED 1.91M ($521,000) with an impressive ROI of 7.16%. The per-square-foot price in this community increased by 1.81% to AED 871 ($237). Al Furjan saw a notable 7.67% increase in per-square-foot prices, reaching AED 1,342 ($365).
In contrast, villa prices in JVC and Dubailand slightly decreased, dropping to AED 1,173 ($319) and AED 1,317 ($359) per square foot, respectively. Dubai South, however, experienced a significant price increase of 5.71%, reaching AED 1,139 ($310) per square foot in Q3 2024, reflecting the area’s growing appeal amid ongoing development.
Click here to explore all available villas for sale in Dubai!
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