Bayut’s Dubai Sales Market Report for 2024
- At a Glance
- Affordable Apartments
- Mid-tier Apartments
- Luxury Apartments
- Affordable Villas
- Mid-tier Villas
- Luxury Villas
- Highest ROIs
- Off-plan Properties
As we move into the new year, it’s time to review the property prices for apartments and villas in Dubai’s popular districts throughout 2024. With Dubai’s real estate sector maintaining its impressive momentum throughout the last calendar year, Bayut’s Sales Market Report Dubai for 2024 offers a comprehensive analysis of the property price trends observed amidst an undeniably dynamic environment for diversified real estate investments.
We have segregated popular areas for buying apartments and villas into ‘Affordable,’ ‘Mid-tier’ and ‘Luxury’ to offer a more tailored view of the Dubai property market in 2024.
AT A GLANCE: DUBAI PROPERTY SALES MARKET 2024
This report examines and contrasts property sales prices in Dubai for 2024 with those recorded in 2023.
The findings highlight a consistent rise in property prices across the affordable, mid-tier and luxury segments for both villas and apartments in Dubai during 2024. Bayut’s analysis of property price trends reveals:
- Affordable property prices in Dubai increased by up to 55% in 2024.
- Mid-tier properties experienced price hikes ranging between 20% and 55%.
- Luxury properties saw average sales price-per-square-foot rise by up to 56%.
- According to Bayut’s data, preferred areas for affordable, mid-tier and luxury apartments included Dubai Silicon Oasis, Jumeirah Village Circle and Dubai Marina, respectively.
- Buy-to-let villa investors focused on DAMAC Hills 2 for affordable, Al Furjan for mid-tier and Dubai Hills Estate for luxury properties.
Dubai Transactions data shows that 2024 saw a recorded total of 169,000 property sale transactions (both residential and commercial), valued at AED 488 billion.
For an accurate representation of Dubai property price trends, our 2024 sales market report compares the average price-per-square-foot for an area to the previous time period. 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.
DUBAI SILICON OASIS IS THE MOST POPULAR AREA TO BUY AFFORDABLE APARTMENTS IN DUBAI
AVERAGE SALES PRICES FOR AFFORDABLE APARTMENTS: BAYUT DUBAI SALES MARKET REPORT 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|---|
| Dubai Silicon Oasis (DSO) | ROI 9.15% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
| Dubai Sports City | ROI 9.34% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
| Arjan | ROI 7.87% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
- Buyers searching for affordable apartments in Dubai favoured Dubai Silicon Oasis, Dubai Sports City and Arjan.
- Price-per-square-foot in these districts showed increases ranging from 18% to 29%.
- Sales transaction history for these areas showed an overall price growth of 21% to 26%, respectively.
JUMEIRAH VILLAGE CIRCLE HAS REMAINED THE MOST POPULAR AREA TO BUY MID-TIER APARTMENTS IN DUBAI
AVERAGE SALES PRICES FOR MID-TIER APARTMENTS: BAYUT DUBAI SALES MARKET REPORT 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | STUDIO | 1-BED | 2-BED |
|---|---|---|---|---|---|---|
| Jumeirah Village Circle (JVC) | ROI 8.26% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
| Business Bay | ROI 6.65% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
| Jumeirah Lake Towers (JLT) | ROI 7.99% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| STUDIO
| 1-BED
| 2-BED
|
- Jumeirah Village Circle remained the leading choice for mid-tier apartment buyers, with significant interest also shown in Business Bay and Jumeirah Lake Towers.
- Price-per-square-foot for sale apartments in JVC, Business Bay and Jumeirah Lake Towers increased by between 20% and 35%.
- Average transaction values in these areas saw growth ranging from 7% to 41%, with Jumeirah Lake Towers’ transaction history showcasing notable transactions for both commercial and residential plots and properties.
DUBAI MARINA HOLDS INVESTOR INTEREST FOR LUXURY APARTMENTS IN 2024
AVERAGE SALES PRICES FOR LUXURY APARTMENTS: DUBAI REAL ESTATE SALES MARKET REPORT 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | 1-BED | 2-BED | 3-BED |
|---|---|---|---|---|---|---|
| Dubai Marina | ROI 6.69% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Downtown Dubai | ROI 6.10 % | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
| Palm Jumeirah | ROI 5.62% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 1-BED
| 2-BED
| 3-BED
|
- Dubai Marina, Downtown Dubai and Palm Jumeirah were the top picks for investors and home buyers seeking luxury apartments in 2024.
- Apartments in these premium districts experienced price increases of between 19% and 23%.
- Historical sales data for these locations revealed similar upward trends, with price growth ranging from 12% to 19%. However, the transaction history in Palm Jumeirah revealed an 8.40% dip in prices as per the DLD.
- STUDIO
- |
- 1 BATH
- |
- 311 SQFT
- STUDIO
- |
- 1 BATH
- |
- 449 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 857 SQFT
- 1 BED
- |
- 2 BATHS
- |
- 754 SQFT
- 2 BEDS
- |
- 3 BATHS
- |
- 1766 SQFT
DAMAC HILLS 2 RANKS AS THE MOST POPULAR CHOICE FOR BUYING AFFORDABLE VILLAS IN DUBAI
AVERAGE PROPERTY PRICES IN DUBAI TO BUY AFFORDABLE HOUSES: BAYUT 2024 DUBAI SALES MARKET REPORT
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|---|
| DAMAC Hills 2 | ROI 6.66% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
| Dubailand | ROI 6.15% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
| Dubai South | ROI 5.57% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
- According to Bayut’s 2024 Dubai Sales Market Report, villas in DAMAC Hills 2, Dubailand and Dubai South were the most attractive options for buyers seeking affordable villas.
- Sale prices-per-square-foot in these areas rose by 33% to 55%, with Dubai South recording the highest growth, following the announcement of the significant Al Maktoum International Airport expansion.
- Sales transaction data from Dubailand highlighted a rise in residential plot purchases, reflecting a growing interest in customisable real estate options.
AL FURJAN RANKS AS THE MOST POPULAR CHOICE FOR BUYING MID-TIER VILLAS IN DUBAI
AVERAGE PROPERTY PRICES IN DUBAI TO BUY MID-TIER HOUSES: DUBAI REAL ESTATE SALES MARKET REPORT 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | 3-BED | 4-BED | 5-BED |
|---|---|---|---|---|---|---|
| Al Furjan | ROI 6.80% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
| Jumeirah Village Circle (JVC) | ROI 8.01% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
| The Springs | ROI 5.24% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 3-BED
| 4-BED
| 5-BED
|
- The mid-tier villas in Al Furjan, Jumeirah Village Circle and The Springs attracted significant property-seeker interest during 2024.
- Price-per-square-foot in these areas increased by between 34% and 55%, with villas for sale in Jumeirah Village Circle experiencing the highest appreciation fuelled by increasing demand.
- Dubai Land Department data showed overall transaction price growth of between 23% and 30% for properties in these districts.
ARABIAN RANCHES HOLDS THE TOP SPOT FOR BUYING LUXURY HOMES IN DUBAI
REAL ESTATE PRICES IN DUBAI FOR LUXURY VILLAS IN POPULAR NEIGHBOURHOODS: BAYUT DUBAI SALES MARKET REPORT 2024
POPULAR AREAS | ROI | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 | TRANSACTION PRICE Avg. Transaction PriceChange from 2023 | 4-BED | 5-BED | 6-BED |
|---|---|---|---|---|---|---|
| Dubai Hills Estate | ROI 5.06% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 4-BED
| 5-BED
| 6-BED
|
| DAMAC Hills | ROI 5.94% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 4-BED
| 5-BED
| 6-BED
|
| Arabian Ranches | ROI 4.40% | PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023
| TRANSACTION PRICE Avg. Transaction PriceChange from 2023
| 4-BED
| 5-BED
| 6-BED
|
- Dubai Hills Estate, DAMAC Hills and Arabian Ranches emerged as preferred areas for luxury villas during 2024.
- Sale prices-per-square-foot for villas in these areas increased by 36% to 56%, with villas in Arabian Ranches recording the most significant growth due to heightened demand for family-friendly residences.
- DLD data also indicated similar increases, with transaction prices rising by between 7% and 31%.
- 4 BEDS
- |
- 5 BATHS
- |
- 3034 SQFT
AREAS WITH THE BEST ROIS FOR APARTMENTS AND VILLAS IN DUBAI
HIGHEST RENTAL YIELDS FOR APARTMENTS IN DUBAI
AREA | SEGMENT | ROI |
|---|---|---|
AREA Dubai Investment Park (DIP) | SEGMENT Affordable | ROI 11.2% |
AREA Living Legends | SEGMENT Mid-tier | ROI 10.1% |
AREA Al Sufouh | SEGMENT Luxury | ROI 9.18% |
- Based on the data collected for Dubai Sales Market Report 2024, areas with the best rental yields for apartments included Dubai Investment Park (affordable), Living Legends (mid-tier) and Al Sufouh (luxury).
- Other high-yielding districts:
- Affordable: Discovery Gardens (10.0%), Liwan (9.47%).
- Mid-tier: Motor City (8.71%), Al Furjan (8.70%).
- Luxury: Green Community (8.69%), Al Barari (7.90%).
HIGHEST RENTAL YIELDS FOR VILLAS IN DUBAI
AREA | SEGMENT | ROI |
|---|---|---|
AREA Dubai Industrial City | SEGMENT Affordable | ROI 7.17% |
AREA Jumeirah Village Circle (JVC) | SEGMENT Mid-tier | ROI 8.01% |
AREA The Sustainable City | SEGMENT Luxury | ROI 7.27% |
- Investors seeking high rental returns for villas showed greater inclination towards Dubai Industrial City (affordable), Jumeirah Village Circle (mid-tier) and The Sustainable City (luxury).
- Other districts with strong yields:
- Affordable: International City (6.73%), DAMAC Hills 2 (6.66%).
- Mid-tier: Al Furjan (6.80%), Jumeirah Village Triangle (6.42%).
- Luxury: Al Barari (6.56%), Tilal Al Ghaf (6.46%).
The projected ROIs for apartments and villas in Dubai may vary depending on the location of the building/unit, its developer and the amenities offered.
POPULAR AREAS FOR OFF-PLAN PROPERTIES IN DUBAI
TOP PROJECTS FOR OFF-PLAN APARTMENTS IN DUBAI
PROJECT | AREA | SEGMENT |
|---|---|---|
PROJECT Verdana Residence | AREA Dubai Investment Park (DIP) | SEGMENT Affordable |
PROJECT Tria | AREA Dubai Silicon Oasis | SEGMENT Affordable |
PROJECT International City Phase 2 (Warsan 4) | AREA International City | SEGMENT Affordable |
PROJECT JVC District 12 | AREA Jumeirah Village Circle (JVC) | SEGMENT Mid-tier |
PROJECT JVT District 3 | AREA Jumeirah Village Triangle (JVT) | SEGMENT Mid-tier |
PROJECT Golf Views Seven City | AREA Jumeirah Lake Towers (JLT) | SEGMENT Mid-tier |
PROJECT Emaar Beachfront | AREA Dubai Harbour | SEGMENT Luxury |
PROJECT Vida Dubai Mall | AREA Downtown Dubai | SEGMENT Luxury |
PROJECT The Palm Beach Towers | AREA Palm Jumeirah | SEGMENT Luxury |
As per the Dubai Sales Market Report 2024, buyers searching for affordable off-plan apartments showed interest in suburban communities such as:
- Verdana Residence (Dubai Investment Park)
- Tria (Dubai Silicon Oasis)
- International City Phase 2
Mid-tier apartment buyers favoured projects such as:
- District 12 in JVC
- District 3 in Jumeirah Village Triangle (JVT)
- Golf Views Seven City in JLT
Centrally located high-end off-plan apartments were most popular among investors, who mainly focused on:
- Emaar Beachfront in Dubai Harbour
- Vida Dubai Mall in Downtown Dubai
- The Palm Beach Towers in Palm Jumeirah.
TOP PROJECTS FOR OFF-PLAN VILLAS IN DUBAI
PROJECT | AREA | SEGMENT |
|---|---|---|
PROJECT Verdana 2 | AREA Dubai Investment Park (DIP) | SEGMENT Affordable |
PROJECT Villanova | AREA Dubailand | SEGMENT Affordable |
PROJECT Camelia | AREA DAMAC Hills 2 | SEGMENT Affordable |
PROJECT Al Furjan West | AREA Al Furjan | SEGMENT Mid-tier |
PROJECT Mudon Al Ranim | AREA Mudon | SEGMENT Mid-tier |
PROJECT Bliss | AREA Arabian Ranches 3 | SEGMENT Mid-tier |
PROJECT District 11 | AREA Mohammed Bin Rashid City | SEGMENT Luxury |
PROJECT Harmony | AREA Tilal Al Ghaf | SEGMENT Luxury |
Affordable off-plan villa buyers showed a preference for:
- Verdana 2 in DIP
- Villanova in Dubailand
- Camelia in DAMAC Hills 2
Buyers interested in mid-tier off-plan villas mostly gravitated towards developments such as:
- Al Furjan West in Al Furjan
- Mudon Al Ranim in Mudon
- Bliss in Arabian Ranches 3
Investors looking for luxury off-plan villas, focused on:
- District 11 in Mohammed Bin Rashid City
- Harmony in Tilal Al Ghaf Dubai
Commenting on the findings, Haider Ali Khan, CEO of Bayut and Head of Dubizzle Group MENA, said:
“Dubai’s real estate market is buzzing right now and it’s easy to see why. Luxury properties in areas such as Palm Jumeirah and Dubai Hills Estate are breaking records, with buyers from Europe and Asia flocking to secure ultra-high-end homes. At the same time, we’re seeing tremendous interest in emerging areas such as Dubai South and Dubai Creek Harbour, driven by improved infrastructure and strategic locations.
With over 4 million expats expected to be residing in Dubai by 2025, the surging demand for housing is likely to continue apace. This presents exciting opportunities for everyone in the industry. Dubai is cementing its place as a global lifestyle and investment destination and I feel the next few years are poised to redefine the market.
At Bayut, we’re leading this transformation with our innovative tools and features. TruBrokerTM connects buyers with trusted professionals, while Dubai Transactions provides transparency on market trends, and TruEstimateTM ensures accurate property valuations. These solutions are empowering buyers, sellers and agents to make informed decisions and to navigate Dubai’s evolving property landscape with increased confidence.”
Stay tuned for Bayut’s upcoming 2024 Abu Dhabi Real Estate Market Report, which will provide further insights into the region’s property trends.
Disclaimer: The above Dubai sales real estate market report (MKTRPTYE2024) is based on prices for ready properties advertised by real estate agencies on behalf of their clients on Bayut.com (excluding room share), and is not representative of actual real estate transactions conducted in Dubai, unless specified as based on DLD data.
