Bayut & dubizzle’s Dubai market report on properties for sale in H1 2021
- Top Neighbourhoods
- Affordable Apartments
- Luxury Apartments
- Affordable Villas
- Luxury Villas
- Off-Plan Communities
Dubai’s real estate market has recorded an impressive performance in the first half of 2021, with sales prices growing across both the affordable and luxury property segments.
For Bayut & dubizzle’s combined half-yearly market report, our data analysts have compared property prices in Dubai from the first six months of 2021 to the last six months of 2020.
Our H1 2021 market report reveals that Dubai property prices have appreciated for apartments and villas across most of the popular neighbourhoods:
- Affordable apartment communities have experienced an uptick in sales price-per-square-foot between 2% to 6%, while luxury apartments have recorded increases in sales prices from 6% to 20%.
- Similarly, villa communities in Dubai have seen an impressive recovery in sales price-per-square-foot, growing between 6% to 19% in the first six months of 2021.
There are various factors that have likely contributed to this remarkable boom in the Dubai real estate market. The UAE has maintained one of the highest COVID-19 vaccination rates globally, which has helped economic activity to recover in the country. In addition, various reforms have been introduced to ensure the sustainability of the UAE’s appeal as an investment destination, such as the launch of remote work visas and 100% foreign ownership of companies, which have created an increasingly favourable business environment.
This positive sentiment has also had an impact on the property market; Emaar Properties reported a 250% increase in property sales in the first five months of 2021, as opposed to the same period last year. Similarly, the Dubai Land Department registered an increase of 221% in the value of sales transactions in May 2021, when compared to May 2020:
- According to consumer trends observed in the Bayut & dubizzle H1 Market Report for Dubai, investors searching for affordable apartments have remained keen on Jumeirah Village Circle (JVC), Jumeirah Lake Towers and Dubai Silicon Oasis, while Akoya Oxygen has taken the lead for budget-friendly villas, followed by JVC and Dubailand.
- On the other hand, high-net-worth investors have focussed their attention on established communities such as Dubai Marina, Downtown Dubai and Arabian Ranches, although developing areas such as Dubai Hills Estate are also garnering more attention.
For an accurate representation of Dubai property prices, our H1 2021 sales market report compares the average price-per-square-foot for an area. Please note that these prices are subject to change based on multiple factors including amenities available, the developer involved in the project, location and other key factors.
We have also further segregated the popular areas for buying apartments and villas into ‘Affordable’ and ‘Luxury’ to offer a more tailored view of the Dubai real estate market in H1 2021.
TOP NEIGHBOURHOODS IN DUBAI ACCORDING TO TRENDS ON BAYUT AND DUBIZZLE FOR H1 2021
Our analysis of search trends on Bayut & dubizzle has revealed that prospective investors and buyers have shown a clear preference for the family-friendly suburb of Jumeirah Village Circle, followed by historically popular neighbourhoods such as Dubai Marina, Palm Jumeirah and Downtown Dubai.
The up-and-coming location of Akoya Oxygen has firmly cemented itself as a popular choice with buyers searching for competitively-priced properties, as has Dubailand.
Dubai Hills Estate and Arabian Ranches have also earned a spot on the list, pointing to the sustained demand for luxury golf course homes in gated communities.
Jumeirah Lake Towers (JLT) and Business Bay have also remained sought-after by buyers and investors looking for mid-range properties near commercial hubs.
As per data released by the Dubai Land Department (DLD), 16,558 sales transactions were recorded for residential properties in Dubai, amounting to a total value of AED 24.7B. Sales transactions for ready properties came out ahead in H1 2021, accounting for nearly 59% of total residential transactions. This trend could likely be driven by a growing number of end-users keen to transition to homeownership.
JUMEIRAH VILLAGE CIRCLE (JVC) TAKES THE LEAD FOR AFFORDABLE APARTMENT SALES: BAYUT & dubizzle H1 MARKET REPORT
DUBAI PROPERTY PRICES FOR AFFORDABLE APARTMENTS
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|
| Jumeirah Village Circle (JVC) | ROI 6.22% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| STUDIO
| 1-BED
| 2-BED
|
| Jumeirah Lake Towers (JLT) | ROI 6.62% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Silicon Oasis | ROI 7.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Sports City | ROI 6.91% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| STUDIO
| 1-BED
| 2-BED
|
| International City | ROI 7.51% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| STUDIO
| 1-BED
| 2-BED
|
The family-friendly suburb of Jumeirah Village Circle has continued to firmly hold the interest of buyers and investors searching for affordable apartments and penthouses in Dubai. In the first half of 2021, the average price-per-square-foot for flats for sale in JVC has seen a slight decrease from AED 839 to AED 812. This could be attributed to sellers keeping prices competitive as more projects are delivered, such as Bloom Towers. As a result, average sales prices for apartments in JVC have also seen slight declines; studios apartments have decreased from AED 419k to AED 403k, 1-bedroom flats have declined from AED 655k to AED 642k and 2-bedroom apartments have dipped from AED 972k to AED 943k.
On the other hand, established neighbourhoods such as Jumeirah Lake Towers and Dubai Sports City have recorded slight increases in sales-price-per-square-foot between 4% to 6%, averaging at AED 870 and AED 612, respectively. This could be indicative of growing investor interest in integrated communities with modern lifestyle amenities and recreational facilities.
According to our 2021 property market report for Dubai, Dubai Silicon Oasis and International City have also been popular choices for smaller investors looking to enter the emirate’s property market. Both communities have seen the average price-per-square-foot for apartments remain steady in H1 2021, standing at AED 597 and AED 447 respectively.
DIAMOND VIEWS IS THE TOP CHOICE FOR BUYING FLATS IN JVC
A complex of four low-rise buildings, Diamond Views in JVC has some of the most-searched-for units by tenants interested in the area. The complex offers spacious studio flats to 3-bedroom duplexes. The starting price to buy apartments in Diamond Views is AED 280k, as per current listings on Bayut.
According to our Dubai property market analysis, other popular buildings to buy flats in JVC include Seasons Community, Oxford Residence 2, Knightsbridge Court and Emirates Garden 2.
INTERNATIONAL CITY OFFERS THE BEST ROI IN DUBAI FOR AFFORDABLE APARTMENTS
According to Bayut & dubizzle’s Dubai real estate market analysis for 2021, International City has continued to generate the highest ROI for investors keen to purchase affordable flats. Prospective buyers can earn average rental returns of 7.51% from apartments for sale in International City, although this can differ based on the property’s location, size and other factors.
Dubai Silicon Oasis and Dubai Sports City also have also offered high yield average returns averaging at the 7% mark, while JLT and JVC have offered healthy average ROI of 6.62% and 6.22% respectively.
DUBAI MARINA REMAINS THE PREFERRED AREA FOR LUXURY APARTMENT INVESTMENTS: H1 MARKET REPORT BY BAYUT & dubizzle
DUBAI REAL ESTATE PRICES FOR LUXURY FLATS
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|
| Dubai Marina | ROI 5.54% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 1-BED
| 2-BED
| 3-BED
|
| Downtown Dubai | ROI 4.60% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 1-BED
| 2-BED
| 3-BED
|
| Business Bay | ROI 5.39% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 1-BED
| 2-BED
| 3-BED
|
| Palm Jumeirah | ROI 4.52% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 1-BED
| 2-BED
| 3-BED
|
| Jumeirah Beach Residence (JBR) | ROI 4.09% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 1-BED
| 2-BED
| 3-BED
|
Bayut & dubizzle’s Dubai real estate market analysis reveals that the luxury apartment and penthouse segment has had an impressive performance in the first half of 2021. It’s likely that the emirate’s efficient handling of the pandemic, coupled with strong demand for luxury properties, has boosted positive sentiment in the market, leading to a growth in sales prices.
Apartments in Dubai Marina, the long-standing favourite for luxury properties, have seen the price-per-square-foot increase by 7.11% in the first six months of the year, going from AED 1,160 in H2 2020 to AED 1,242 in H1 2021. Thus, the average asking prices for apartments for sale in Dubai Marina have also seen slight increases; studio flats have gone up from AED 985k to AED 1.07M, 1-bedroom flats have increased from AED 1.55M to AED 1.65M and 2-bed apartments have risen from AED 2.53M to AED 2.71M.
The historically popular district of Downtown Dubai has also followed a similar trend, with the sales-price-per-square-foot for apartments rising by 7.12% to AED 1,890. Investors keen to purchase apartments in Downtown Dubai can expect to pay an average of AED 1.45M for studios, AED 2.69M for 1-bed flats and AED 4.62M for 2-bedroom apartments.
Other waterfront communities such as Palm Jumeirah and Jumeirah Beach Residence (JBR) have experienced a significant increase of 20% in sales-price-per-square-foot for apartments, averaging at AED 1,733 and AED 1,585 respectively. This is reflective of the sustained demand for spacious, waterfront apartments with plenty of outdoor spaces and community amenities.
MARINA GATE IS MOST POPULAR WITH INVESTORS IN DUBAI MARINA
Developed by Select Group, Marina Gate is a luxurious three-tower complex that is the first choice in Dubai Marina for prospective investors. It also includes the recently-handed-over Jumeirah Living Marina Gate, which includes branded and serviced apartments overlooking the marina. The apartments for sale in Marina Gate are available in studio to 4-bedroom layouts and start from AED 1.08M, as per Bayut’s current listings.
Other Dubai Marina towers that have caught the attention of buyers include Marina Diamonds, Marina Pinnacle, Studio One Tower and Manchester Tower, as per our sales market report on real estate in Dubai.
DUBAI MARINA YIELDS THE BEST RENTAL RETURNS IN DUBAI FOR LUXURY FLATS
Another factor contributing to Dubai Marina’s consistent popularity has been its healthy ROI, which averages at 5.54%. This has been closely followed by Business Bay, which also offers investors high rental returns of around 5.39%.
Buyers looking for buy-to-let properties can also consider Downtown Dubai and Palm Jumeirah, which yield an average ROI of 4.6% and 4.52% for apartments.
AKOYA OXYGEN EMERGES AS THE TOP CHOICE TO BUY AFFORDABLE VILLAS IN DUBAI
PROPERTY PRICE TRENDS IN DUBAI FOR AFFORDABLE VILLAS
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|
| Akoya Oxygen | ROI 5.29% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 3-BED
| 4-BED
| 5-BED
|
| Jumeirah Village Circle (JVC) | ROI 5.86% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 3-BED
| 4-BED
| 5-BED
|
| Dubailand | ROI 5.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 3-BED
| 4-BED
| 5-BED
|
| The Springs | ROI 5.11% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 3-BED
| 4-BED
| 5-BED
|
| Mudon | ROI 5.54% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 3-BED
| 4-BED
| 5-BED
|
In the first half of 2021, Akoya Oxygen has taken the lead over Jumeirah Village Circle (JVC) to become the most popular option for prospective investors interested in budget-friendly villas and townhouses in Dubai. Akoya Oxygen offers highly competitive prices for villa properties and has the added advantage of being a golf course community. The sales-price-per-square-foot for houses in Akoya Oxygen has remained stable in H1 2021, averaging at AED 557.
The average price to invest in 3-bedroom villas have dipped from AED 1.04M to AED 985k, while 4-bedroom houses in Akoya Oxygen have increased from AED 1.35M to AED 1.43M. Similarly, the average sales price for 5-bed villas has seen a slight uptick from AED 1.81M to AED 1.83M.
Other suburbs such as Jumeirah Village Circle and Dubailand have also recorded an increase between 6% to 8% in sales-price-per-square-foot for villas, averaging at AED 542 and AED 712.
Integrated communities such as The Springs and Mudon have also generated significant interest from buyers and investors. Both communities have experienced impressive growth between 10% to 16% when it comes to sales-price-per-square-foot, averaging at AED 1,021 in The Springs and AED 850 in Mudon. This could be the result of increased demand from end-users looking to upgrade from apartments to villas, as housing preferences shift in the wake of the pandemic.
VARDON IS THE MOST-SEARCHED-FOR COMMUNITY TO BUY VILLAS IN AKOYA OXYGEN
Akoya Oxygen’s most popular community, Vardon, is located in the heart of the development. It offers both ready and off-plan 3, 4 and 5-bedroom homes with access to community facilities. The prices to invest in Vardon villas start from AED 698k, as per current listings on Bayut.
Pacifica, Albizia, Mimosa and Sanctnary are among the other searched-for communities for villas in Akoya Oxygen.
JUMEIRAH VILLAGE CIRCLE YIELDS THE BEST ROI IN DUBAI FOR AFFORDABLE VILLAS
Jumeirah Village Circle has remained the best option for investors searching for reasonably priced buy-to-let villas. As per Bayut & dubizzle’s Dubai real estate market report for 2021, villas for sale in JVC have offered an average ROI of 5.86%, although this can vary based on the developer, location, amenities and other factors.
Other villa communities that offer healthy ROI in Dubai include Mudon (5.54%) and Akoya Oxygen (5.29%). Villas in The Springs and Dubailand also offer rental returns around the 5% mark.
ARABIAN RANCHES IS THE MOST PREFERRED CHOICE FOR LUXURY VILLAS FOR SALE
PROPERTY PRICES IN DUBAI FOR LUXURY HOMES
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020 | 4-BED | 5-BED | 6-BED |
|---|---|---|---|---|---|
| Arabian Ranches | ROI 4.96% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 4-BED
| 5-BED
| 6-BED
|
| Dubai Hills Estate | ROI 4.79% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 4-BED
| 5-BED
| 6-BED
|
| Palm Jumeirah | ROI 4.67% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 4-BED
| 5-BED
| 6-BED
|
| The Villa | ROI 4.80% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 4-BED
| 5-BED
| 6-BED
|
| Jumeirah Golf Estates | ROI 5.52% | PRICE PER SQ.FT Avg. Price/sq.ftChange from H2 2020
| 4-BED
| 5-BED
| 6-BED
|
In line with the overall trends, Dubai’s luxury villa and townhouse segments have also reported a positive start in H1 2021, with sales prices recovering across popular communities. The well-established community of Arabian Ranches has recorded an increase of 18.6% when it comes to sales-price-per-square-foot, rising from AED 917 in H2 2020 to AED 1,088 in H1 2021.
Homeowners in Arabian Ranches will be glad to know that the average asking prices for villas have also grown in the first half of 2021. As per property price trends in Dubai, 4-bedroom villas for sale in Arabian Ranches have risen from AED 3.42M to AED 4.12M, while 5-bedroom houses have gone up from AED 4.64M to AED 5.35M. Similarly, 6-bedroom homes in Arabian Ranches have seen sales prices increase from AED 6.89M to AED 8.21M.
Dubai Hills Estate is another developing luxury villa community that has generated increasing interest from HNW investors. This golf course community has also observed an increase of 15% in price-per-square-foot for villas, going from AED 1,052 in H2 2020 to AED 1,203 in H1 2021. Investors can expect to pay an average of AED 3.76M for 4-bed homes, AED 5.58M for 5-bed villas and AED 14.1M for 6-bed houses in Dubai Hills Estate.
Other high-end communities such as Palm Jumeirah and Jumeirah Golf Estates have also experienced growth in sales-price-per-square-foot for villas around the 18% mark, averaging at AED 2,623 and AED 1,207 respectively.
AL REEM IS MOST POPULAR WITH BUYERS FOR VILLAS IN ARABIAN RANCHES
Buyers have shown a clear preference for villas for sale in Al Reem, one of the largest sub-communities in Arabian Ranches. Al Reem offers semi-detached 2, 3 and 4-bedroom houses, some of which even come with private pools. As per current listings, asking prices for these villas start from AED 1.6M.
Buyers have also shown interest in communities such as Saheel, Palmera, Mirador and Polo Homes to buy villas in Arabian Ranches.
JUMEIRAH GOLF ESTATES OFFERS THE BEST RETURN ON INVESTMENT IN DUBAI ON LUXURY VILLAS
Those keen to invest in Dubai’s luxury property market should consider villas in Jumeirah Golf Estates. According to our Dubai real estate market report, Jumeirah Golf Estates homes offer a healthy ROI of 5.52% on average. The asking prices to buy villas in Jumeirah Golf Estates average at AED 4.72M for 4-bed homes, AED 8.54M for 5-bed houses and AED 19.3M for 6-bedroom villas.
Most of the luxury villa communities generate return-on-investment around the 5% mark: Arabian Ranches (4.96%), The Villa (4.80%) and Dubai Hills Estate (4.79%).
TOP PROJECTS FOR OFF-PLAN PROPERTIES IN DUBAI
In H1 2021, the off-plan market in Dubai recorded 6,842 sales transactions, amounting to a total value of AED 10B. Bayut & dubizzle’s Dubai real estate market report analyses the most popular locations for off-plan properties in the emirate.
OFF-PLAN APARTMENTS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT Binghatti Mirage | AREA Jumeirah Village Circle (JVC) | CATEGORY Affordable |
PROJECT Binghatti Avenue | AREA Al Jaddaf | CATEGORY Affordable |
PROJECT Rukan | AREA Dubailand | CATEGORY Affordable |
PROJECT Downtown Views II | AREA Downtown Dubai | CATEGORY Luxury |
PROJECT Sobha Hartland | AREA Mohammed Bin Rashid City | CATEGORY Luxury |
PROJECT One at Palm Jumeirah | AREA Palm Jumeirah | CATEGORY Luxury |
When it comes to off-plan apartments in Dubai, Jumeirah Village Circle (JVC) once again takes the lead in the affordable segment, followed by developing areas of Al Jaddaf and Dubailand. The competitively-priced Binghatti Mirage is most popular with prospective buyers in Jumeirah Village Circle, and offers 1 and 2-bedroom apartments for sale. Similarly, Binghatti Avenue has generated the most interest with potential investors in the waterfront location of Al Jaddaf. The prices to buy flats in Binghatti Mirage starts from AED 470k, while apartments in Binghatti Avenue start from AED 525k.
In the luxury segment, buyers have favoured the centrally-located district of Downtown Dubai, as well as integrated communities such as Mohammed Bin Rashid (MBR) City and Palm Jumeirah. Downtown Views II, which is being developed by Emaar Properties and offers 1 to 4-bedroom luxury apartments for sale, is most popular in Downtown Dubai. Offering uninterrupted views of the vibrant neighbourhood, apartments for sale in Downtown Views 2 start from AED 1.05M, as per current listings on Bayut.
OFF-PLAN VILLAS IN DUBAI
PROJECT | AREA | CATEGORY |
|---|---|---|
PROJECT Rukan | AREA Dubailand | CATEGORY Affordable |
PROJECT Vardon | AREA Akoya Oxygen | CATEGORY Affordable |
PROJECT Green Acres | AREA DAMAC Hills (Akoya by DAMAC) | CATEGORY Affordable |
PROJECT District One | AREA Mohammed Bin Rashid City | CATEGORY Luxury |
PROJECT Golf Place | AREA Dubai Hills Estate | CATEGORY Luxury |
PROJECT Harmony | AREA Tilal Al Ghaf | CATEGORY Luxury |
Bayut & dubizzle’s Dubai property market analysis has revealed that prospective buyers have firmly turned their attention towards the city suburbs when searching for reasonably-priced off-plan villas. Located behind Arabian Ranches, Rukan in Dubailand has been the preferred choice for off-plan houses in H1 2021. This upcoming community offers cosy townhouses and villas in a family-oriented setting with a plethora of shared amenities.
Following similar trends to those observed in the luxury apartment segment, buyers keen on upscale off-plan villas have shown a clear preference for well-integrated, self-sufficient communities such as Mohammed Bin Rashid City, Dubai Hills Estate and Tilal Al Ghaf Dubai. District One, which has easy access to Al Khail Road, is the most popular choice for off-plan villas in MBR City. Interested investors can expect to pay a minimum of AED 4.89M for villas for sale in District One, as per current listings on Bayut.
Haider Ali Khan, CEO of Bayut & dubizzle and Head of EMPG MENA, also commented:
“Since the beginning of 2021, there have been growing signs that the Dubai property market is on a steady upward curve, with prices appreciating especially in the sales segment. Most real estate agencies have also confirmed this by sharing the outstanding results of their H1 performance. In fact, if we look at the transactional data from the Dubai Land Department, it’s clear that interest and conversion are both high, with the percentage of transactions going up by an impressive 200% in May 2021 compared to the same period last year.”
“The positive performance of the Dubai property sector has also been reflected on both of our portals with a combined traffic of over 28M sessions. High COVID vaccination rates, investor-friendly reforms and an economy that’s been able to quickly adapt and get back on its feet post the lockdown will continue to drive the growth of the Dubai real estate market.”
That concludes our Dubai sales property market report for the first half of 2021! You can also view Bayut & dubizzle’s Dubai rental market report for H1 2021, in which we provide a detailed analysis of rental prices in popular neighbourhoods for apartments and villas.
Make sure to follow MyBayut as we will be releasing our comprehensive reports for the property markets in Abu Dhabi, Ajman and Sharjah, too.
Disclaimer: The above report is based on prices for real estate in Dubai advertised by real estate agencies on behalf of their clients on Bayut.com & dubizzle property (excluding room share), and not representative of actual real estate transactions conducted in Dubai.
