Bayut & dubizzle’s Q1 2022 Dubai property sales market report
- Top Neighbourhoods in Dubai
- Affordable Apartments
- Luxury Apartments
- Affordable Villas
- Luxury Villas
- Top Off-Plan Projects
After an impressive close to 2021, the Dubai real estate sector has continued to show strong growth in the first quarter of 2022. Bayut & dubizzle’s Dubai Q1 sales property market report 2022 takes a detailed look at how property prices in Dubai have evolved in the first three months of this year.
For this Q1 Dubai sales real estate market report, the data engineers at Bayut & dubizzle have compared property prices in Dubai recorded in Q1 2022 to those observed in Q4 2021.
There has been a general upward trend recorded in the Dubai property market for the sale of villas and apartments in the most popular neighbourhoods for both the luxury and affordable sectors. According to the combined data collected for the Bayut & dubizzle Dubai property market report, the sales price-per-square-foot for affordable properties has increased by up to 5% in Q1. The price-per-square-foot for sales of apartments and villas in the upscale neighbourhoods of Dubai have also seen noticeable upticks of up to 14%.
There has also been an increase in demand for sale properties in the emirate, with the Dubai Land Department terming January 2022 as “best start to the year on record”. Expo 2020 can be considered a major contributing factor to this growing market of investors, who capitalised on the favourable mortgage rates and impressive ROIs in Dubai’s property market – which still remains quite affordable compared to its European counterparts.
The low LTV ratio has also proved a catalyst for first-time buyers entering the market to own a property to live in or rent out. That, paired with the incentive of long-term residence in the emirate has added to the appeal of Dubai real estate for investors interested in both ready and off-plan properties.
When it comes to neighbourhood preferences, Bayut & dubizzle’s 2022 Q1 sales property market report for Dubai has revealed that buyers on a smaller budget have mainly searched for units in suburban areas such as Jumeirah Village Circle (JVC), DAMAC Hills 2 (Akoya Oxygen) and Dubailand. Other affordable communities such as Jumeirah Lake Towers (JLT), Dubai Silicon Oasis and The Springs have also appealed to investors looking for properties on a stricter budget.
Investors interested in upscale properties have shown the most inclination towards more high-profile, well-established communities like Dubai Marina, Downtown Dubai, Arabian Ranches and Dubai Hills Estate.
For an accurate representation of Dubai property prices, our Q1 2022 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 Q1 2022.
TOP NEIGHBOURHOODS IN DUBAI ACCORDING TO TRENDS ON BAYUT & DUBIZZLE
Consumer search trends on Bayut & dubizzle have revealed that prospective buyers and investors have shown keen interest in well-connected districts that provide a family-friendly lifestyle, such as Jumeirah Village Circle, Dubai Marina and Downtown Dubai.
There has also been great demand for suburban neighbourhoods such as DAMAC Hills 2 (Akoya Oxygen), Dubai Hills Estate and Dubailand. These areas offer an attractive portfolio of off-plan and ready properties that appeal to both low and high budget investors.
Our Dubai Q1 sales property market report 2022 has also revealed considerable investor interest in well-integrated areas such as Arabian Ranches, Dubai Silicon Oasis, Business Bay, Palm Jumeirah and Jumeirah Lake Towers.
According to the data provided by the Dubai Land Department, there were 13,608 sales transactions recorded during Q1 2022, with a collective value of AED 30.62 billion. This combined number of sales transactions is due to the sales in both the existing and off-plan property categories exceeding 6,000 units.
Let’s now look at Bayut & dubizzle’s Dubai Q1 sales property market report 2022, which analyses the movements in property prices for the sale of villas and apartments in popular residential communities in the emirate.
JUMEIRAH VILLAGE CIRCLE HAS REMAINED THE MOST POPULAR AREA TO BUY AFFORDABLE APARTMENTS IN DUBAI
AVERAGE SALES PRICES FOR AFFORDABLE APARTMENTS: BAYUT & DUBIZZLE DUBAI REAL ESTATE SALES MARKET REPORT Q1 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021 | STUDIO | 1-BED | 2-BED |
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Jumeirah Village Circle (JVC) | ROI 6.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| STUDIO
| 1-BED
| 2-BED
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Business Bay | ROI 6.02% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| STUDIO
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| 2-BED
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Jumeirah Lake Towers (JLT) | ROI 7.49% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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Dubai Silicon Oasis | ROI 7.60% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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Dubai Sports City | ROI 7.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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According to our analysis of the Q1 2022 Dubai property prices, Jumeirah Village Circle (JVC) has remained the most popular community for investors in search of affordable flats for sale. During Q1 2022, the apartments in JVC have recorded an average sales price-per-square-foot of AED 872, following an uptick of 1.74%. Buyers looking to invest in apartments for sale in JVC can expect to spend an average price of AED 419k for studios, AED 681k for 1-bed units and AED 1.06M for 2-bed flats.
For affordable apartments in Dubai, Business Bay has also ranked well among investors. The average sales price-per-square-foot for flats in Business Bay has stood at AED 1,420 in Q1 2022, after a 3.47% increase from Q4 2021. The average prices to buy apartments in Business Bay have also increased across the board, with studio flats valued at AED 758k, 1-bed flats at AED 1.16M and 2-bedroom apartments at AED 1.83M.
Based on the data gathered for the Bayut & dubizzle Q1 Dubai sales real estate market report 2022, Jumeirah Lake Towers (JLT) and Dubai Sports City have also experienced a moderate increase of up to 3% in the average sales price-per-square-foot. Dubai Silicon Oasis, on the other hand, has seen the average sales price-per-square-foot of apartments in the area decrease by 0.46% in Q1 2022.
DUBAI SPORTS CITY OFFERS THE HIGHEST ROI FOR AFFORDABLE APARTMENTS IN DUBAI
As per our Dubai sales property market report for the first quarter of 2022, the apartments for sale in Dubai Sports City have emerged as the most lucrative investment option in the budget category. Investors can expect to earn projected rental returns of 7.94% based on average rents in the area.
Our analysis of Dubai property prices for the sales market report has shown that buy-to-let flats in Dubai Silicon Oasis and Jumeirah Lake Towers also offer healthy returns of 7.60% and 7.49% respectively.
DUBAI MARINA HOLDS INVESTOR INTEREST FOR LUXURY APARTMENTS IN Q1 2022
DUBAI PROPERTY PRICES FOR LUXURY APARTMENTS FOR SALE: Q1 BAYUT & DUBIZZLE DUBAI PROPERTY SALES MARKET REPORT
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021 | 1-BED | 2-BED | 3-BED |
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Dubai Marina | ROI 7.11% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 1-BED
| 2-BED
| 3-BED
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Downtown Dubai | ROI 6.32% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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| 2-BED
| 3-BED
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Palm Jumeirah | ROI 6.17% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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| 2-BED
| 3-BED
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Jumeirah Beach Residence (JBR) | ROI 5.38% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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| 2-BED
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Dubai Hills Estate | ROI 6.21% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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The Q1 2022 combined sale property market report for Bayut & dubizzle has revealed that the ever-popular Dubai Marina has yet again topped the popularity charts when it comes to searches for luxury apartment sales in the emirate. The average price-per-square-foot for apartments in this upscale waterfront community has gone up by 1.58% in Q1, averaging at AED 1,404. Following the increase, the prices for flats for sale in Dubai Marina have average prices of AED 1.17M for 1-bed units, while 2 and 3-bedroom apartments have an average sales price of AED 1.87M and AED 3.17M, respectively.
Downtown Dubai is the second most popular area among investors looking for luxury apartments. The average sales price-per-square-foot for properties in this well-connected district have experienced a 1.94% increase, to average at AED 2,192 in Q1 2022. Investors interested in flats for sale in Downtown Dubai can expect to pay AED 1.65M for 1-bed, AED 3.18M for 2-bed and AED 5.22M for 3-bed units.
Other than Dubai Marina and Downtown Dubai, potential buyers and investors have also shown considerable interest in the ever-popular Palm Jumeirah and Jumeirah Beach Residence (JBR) areas. As per the data collected at Bayut & dubizzle for the Q1 Dubai sales property market report 2022, these neighbourhoods have seen modest declines of under 3% in sales price-per-square-foot. The average price-per-square-foot for Dubai Hills Estate on the other hand has increased by 2.22%.
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DUBAI MARINA YIELDS THE BEST ROI FOR LUXURY APARTMENTS IN DUBAI
Our Dubai Q1 Sales property market report 2022 reveals that Dubai Marina has continued to offer the most attractive returns on investment for luxury apartments in Dubai. The area’s projected ROI has stood at an impressive 7.11% in the first quarter of 2022. However, this figure may vary depending on the location of the building, its developer and the amenities it offers.
Other areas that have offered healthy rental returns for upscale apartments include Downtown Dubai and Dubai Hills Estate, where the projected ROIs average at 6.32% and 6.21%, respectively.
DAMAC HILLS 2 (AKOYA OXYGEN) RANKS AS THE MOST POPULAR CHOICE TO BUY AFFORDABLE VILLAS IN DUBAI
AVERAGE PROPERTY PRICES IN DUBAI TO BUY AFFORDABLE HOUSES: BAYUT & DUBIZZLE DUBAI SALES MARKET REPORT Q1 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021 | 3-BED | 4-BED | 5-BED |
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DAMAC Hills 2 (Akoya by DAMAC) | ROI 5.47% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 3-BED
| 4-BED
| 5-BED
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Dubailand | ROI 6.14% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 3-BED
| 4-BED
| 5-BED
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Jumeirah Village Circle (JVC) | ROI 6.28% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 3-BED
| 4-BED
| 5-BED
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The Springs | ROI 5.41% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 3-BED
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DAMAC Hills | ROI 6.92% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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Based on the Dubai sales property price trends in 2022, DAMAC HILLS 2 (Akoya Oxygen) has remained the most searched for area amongst investors interested in affordable villas during Q1.
The villa properties in DAMAC HILLS 2 (Akoya Oxygen) have experienced a minor uptick in sales price-per-square-foot, increasing from AED 597 in Q4 2021 to AED 602 in Q1 2022. To buy villas in DAMAC HILLS 2 (Akoya Oxygen) potential investors would be looking at an average budget of AED 1.07M for 3-bed homes, AED 1.42M for 4-bed homes and AED 1.77M for 5-bed units.
Our analysis of the Dubai real estate prices for sale has further revealed that investors have also focused their interest on the budget villas in Dubailand. This increasingly popular residential community has recorded an average sales price-per-square-foot of AED 806, showing a 2.78% increase from the previous quarter. The prices for homes for sale in Dubailand average at AED 1.68M for 3-bed, AED 2.20M for 4-bed and AED 3.84M for 5-bed homes.
Other areas that have also managed to garner considerable buyer interest, as per Bayut & dubizzle’s Dubai Q1 sale property market report 2022, include JVC, The Springs and DAMAC Hills. While the sales price-per-square-foot for affordable villas in JVC and DAMAC Hills have seen increases between 2% and 5%, the prices in The Springs have experienced a minor decline of 0.72%.
DAMAC HILLS YIELDS THE BEST RENTAL RETURNS IN DUBAI FOR AFFORDABLE VILLAS
Investors looking for lucrative rental returns on budget properties should potentially consider the villa options available in DAMAC Hills. The affordable houses in DAMAC Hills can earn projected rental yields of around 6.92%. The villa properties in JVC and Dubailand also have projected ROIs of over 6%.
ARABIAN RANCHES HOLDS THE TOP SPOT FOR BUYING LUXURY HOMES IN DUBAI
REAL ESTATE PRICES IN DUBAI FOR LUXURY VILLAS IN POPULAR NEIGHBOURHOODS: BAYUT & DUBIZZLE DUBAI SALES MARKET REPORT Q1 2022
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021 | 4-BED | 5-BED | 6-BED |
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Arabian Ranches | ROI 5.83% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 4-BED
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| 6-BED
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Dubai Hills Estate | ROI 6.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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Palm Jumeirah | ROI 4.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
| 4-BED
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Arabian Ranches 2 | ROI 6.46% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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The Villa | ROI 5.08% | PRICE PER SQ.FT Avg. Price/sq.ftChange from Q4 2021
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Bayut & dubizzle’s Dubai Q1 Sales property market report 2022 reveals that Arabian Ranches has remained a firm favourite among buyers and investors looking for high-end villas in Dubai. This seasoned, family-friendly community has seen a minor increase in its sales price-per-square-foot, from AED 1,187 in Q4 2021 to AED 1,192 in Q1 2022.
The average sale prices to buy villas in Arabian Ranches have increased across the board, in line with the average sales price-per-square-foot for the area, with the exception of 4-bed villas that are now priced at AED 4.47M on average. The average sales price for 5-bed and 6-bed houses in Arabian Ranches average at AED 6.23M and AED 11.3M, respectively.
Next up on the popularity chart for expensive villas for sale is Dubai Hills Estate. According to the property price trends in Dubai observed during Q1 2022, the average sales price-per-square-foot for Dubai Hills Estate villas has gone up by 7.61% to stand at AED 1,476. Houses in the area have asking sale prices averaging at AED 4.69M for 4-bed, AED 6.28M for 5-bed and AED 23.2M for 6-bed units.
Other communities that garnered investor interest for premium villa sales in Dubai include Palm Jumeirah, Arabian Ranches 2 and The Villa. The average price-per-square-foot in Palm Jumeirah experienced a significant increase of 13.6% with properties on the island being listed at higher prices across the board. Arabian Ranches 2 has shown a modest decrease of 0.09% and The Villa has shown an increase of 5.55% in average price-per-square-foot.
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ARABIAN RANCHES 2 HAS THE MOST HEALTHY RETURN ON INVESTMENT IN DUBAI FOR LUXURY HOUSES
When it comes to projected returns on buy-to-let villas in the luxury segment, investors can focus on the properties in Arabian Ranches 2, which offer an average rental yield of 6.46%.
Based on our analysis of real estate prices for Dubai Q1 sales property market report 2022, villa properties in Dubai Hills Estate and Arabian Ranches also yield healthy projected ROIs of over 6.06% and 5.83%, respectively.
POPULAR AREAS FOR OFF-PLAN PROPERTIES IN DUBAI
In the first quarter of 2022, real estate investors have shown considerable interest in Dubai’s off-plan property market. The Bayut and dubizzle Dubai sales real estate market report for Q1 2022 reveals the areas that have gained the most popularity for the sale of off-plan apartments and villas.
TOP PROJECTS FOR OFF-PLAN APARTMENTS IN DUBAI
PROJECT | AREA | CATEGORY |
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PROJECT District 10 | AREA Jumeirah Village Circle (JVC) | CATEGORY Affordable |
PROJECT Skyz by Danube | AREA Arjan | CATEGORY Affordable |
PROJECT Arabian Gate 1 | AREA Dubai Residence Complex | CATEGORY Affordable |
PROJECT Sobha Hartland | AREA Mohammed Bin Rashid City | CATEGORY Luxury |
PROJECT Opera District | AREA Downtown Dubai | CATEGORY Luxury |
PROJECT Dubai Creek Harbour | AREA The Lagoons | CATEGORY Luxury |
Property buyers looking for off-plan apartments in Dubai on a budget have shown significant consideration for the upcoming projects in Jumeirah Village Circle, Arjan and Dubai Residence Complex.
As per our Dubai Q1 sales real estate market report 2022, District 10 in JVC has emerged as an investor favourite for affordable off-plan apartments in Dubai. Apartments for sale in JVC District 10 come in studio to 3-bed configurations and have a starting price of AED 278k, based on the available listings on Bayut.
Other popular projects amongst investors for budget off-plan flats in Dubai include Skyz by Danube in Arjan and Arabian Gate 1 in Dubai Residence Complex.
For luxury off-plan apartments in Dubai, prospective buyers have shown keen interest in centrally-located upscale neighbourhoods like Downtown Dubai and Mohammed Bin Rashid (MBR) City. Sobha Hartland in MBR City has taken the top spot in terms of popularity for expensive off-plan flats in Dubai. Flats for sale in Sobha Hartland come in studio, 1, 2, 3 and 4-bed layouts.
Investors in the luxury segment have also been drawn toward the luxury off-plan flats in the Opera District of Downtown Dubai and Dubai Creek Harbour in The Lagoons.
TOP PROJECTS FOR OFF-PLAN VILLAS IN DUBAI
PROJECT | AREA | CATEGORY |
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PROJECT Rukan | AREA Dubailand | CATEGORY Affordable |
PROJECT Avencia | AREA DAMAC Hills 2 (Akoya by DAMAC) | CATEGORY Affordable |
PROJECT Elan | AREA Tilal Al Ghaf | CATEGORY Luxury |
PROJECT Trump Estates | AREA DAMAC Hills | CATEGORY Luxury |
PROJECT Sun | AREA Arabian Ranches 3 | CATEGORY Luxury |
In the affordable category, investors looking for off-plan villas in Dubai have shown a greater inclination towards suburban communities like Dubailand and DAMAC Hills 2 (Akoya Oxygen). Rukan in Dubailand has been the top choice for budget off-plan villas in Dubai.
Promising a well-integrated, family-friendly lifestyle, Avencia in DAMAC Hills 2 (Akoya Oxygen) has also attracted significant investor interest for off-plan affordable villas in Dubai.
Buyers interested in luxury off-plan villas have been keen on master-planned communities such as Tilal Al Ghaf, DAMAC Hills and Arabian Ranches 3. Elan in Tilal Al Ghaf has been the most in-demand project for expensive off-plan villas in Dubai. The luxury homes for sale in Elan come in 2 to 6-bedroom layouts.
Other areas with luxury off-plan villas in Dubai that have appealed to prospective buyers include Trump Estates in DAMAC Hills and Sun in Arabian Ranches 3.
Commenting on the findings, Haider Ali Khan, the CEO of Bayut & dubizzle and the Head of EMPG MENA said:
“It has been a good start for the property market this year with demand continuing to rise for both luxury and affordable areas. Over the past three months alone, we have had over 18 million sessions on Bayut and dubizzle from property seekers, so there’s clearly an appetite for real estate in the city.
The booming oil prices and strategic moves on the part of the government including the recent DEWA IPO have also increased confidence in the market both locally and internationally. This is clearly evident from the high ticket transactions over the last quarter, which includes the most expensive sale to date for the Palm Jumeirah villa which transacted at a record high of AED 280M. Property seekers are also leveraging PropTech solutions like our recent collaboration with DLD to understand transaction history and make strategic real estate choices. ”
That rounds up the Bayut and dubizzle Dubai Q1 Sales Property Market Report 2022. For insights into the rental segment, take a look at our Q1 2022 Dubai Rental Report, which offers a roundup of the popular areas to rent villas and apartments in the emirate, with respective average rental costs for each.
Also keep a lookout for our Q1 2022 property market reports for Abu Dhabi, Sharjah and Ajman to be released soon on MyBayut!
Disclaimer: The above Dubai sales real estate market report is based on Dubai property prices 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.