dubizzle has released its annual property market report for 2024, offering valuable insights into the ever-evolving Dubai real estate market.
The overall increase in sales and rental prices has highlighted strong demand in the emirate, as well as hinting at investor’s growing confidence in its thriving property market.
Key findings from the report include:
Top Luxury Apartment Community: Dubai Marina has stood out as the preferred choice for buying and renting luxury apartments. The average sales price in this high-demand area has reached AED 2.55M, while annual rent has been recorded at AED 145k, as per dubizzle search trends.
Top Luxury Villa Community: Boasting an average sales price of AED 16.07M, Dubai Hills Estate has maintained its position as the top area for luxury villas. On the other hand, Al Barsha has become the top choice among tenants where the average rent has stood at AED 436k.
High Investment Returns for Luxury Properties: Al Barari has recorded the highest ROI forluxury villas at 7.39%. Meanwhile, Green Community has topped the luxury apartment segment with a notable ROI of 8.48% for the year 2024.
Top Mid-tier Apartment Community: Jumeirah Village Circle (JVC) secured the position as thetop area for buying and renting mid-tier apartments, with an average sales price of AED 1.12M and annual rent of AED 78k.
Top Mid-tier Villa Community: Al Furjan has established itself as the top destination for mid-tier villas, boasting an average sales price of AED 4.86M. With an average annual rent of AED 207k, Jumeirah Village Circle (JVC) has emerged as the preferred area for tenants.
High Investment Returns for Mid-tier Properties: Living Legends has delivered the highest ROI in the mid-tier apartment segment at 11.16%. On the other hand, Jumeirah Village Circle (JVC) has excelled in the mid-tier villas segment with a notable ROI of 7.70%.
Top Affordable Apartment Community: Dubai Silicon Oasis (DSO) has become the leading choice when it comes to affordable apartments. The sale price of apartments in this area has averaged AED 805k. On the other hand, Deira has secured the top spot as the most affordable rental community for apartments, where tenants have paid annual rent of AED 66k, on average.
Top Affordable Villa Community: DAMAC Hills 2 (Akoya by DAMAC) has gained recognition asthe top destination for buying and renting affordable villas, offering units with an average asking price of AED 1.92M and annual rent of AED 115k.
High Investment Returns for Affordable Properties: Dubai Investment Park (DIP) has dominatedthe affordable apartment, offering a notable ROI of 9.98%. Meanwhile, Jumeirah Village Circle (JVC) has offered an ROI of 7.70% in the affordable villa segment.
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