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Real estate trends in Dubai – Best areas for villa and apartment investments

Trends in Dubai

Exploring Dubai’s real estate trends: Best areas for villa and apartment investment revealed; rise in off-plan sales compared to ready-to-move-in properties, rental yields reach 7.3%

Dubai’s real estate market is in full swing at the start of 2024, but which areas have seen the biggest price rises in recent years?
The real estate sector in Dubai remains strong, with both off-plan and secondary/inventory properties continuing to see significant growth.

According to insights from real estate expert haus & haus Real Estate, investors and homeowners are experiencing an increase in the value of their properties, and yields are rising year on year.

The company recently released its Dubai market reports for the first quarter and presented a variety of key insights to help potential investors and residents plan their next moves in the coming months.

Dubai Real Estate: Insight into the analysis

Combining key insights from haus & haus with notable trends on Property Monitor and supported by the Dubai Land Department (DLD), here we uncover important data on the development of the sector.

Highlights include a remarkable 25% increase in the value of secondary sales in the first three months of the year and a 7% rise in rental values. In addition, the report identifies the best performing areas for villa and apartment prices.

Thomas Poulson, Head of Sales at haus & haus, commented: “The haus & haus Q1 Dubai Market Reports 2024 provide really valuable insights for anyone looking to enter the Dubai real estate market or already on their real estate journey. They help to gain a comprehensive understanding of current trends and dynamics and enable our customers to make more informed decisions.”

Key highlights from Q1 2024

– The total value of secondary sales increased by 25% from Q1 2023 to Q1 2024.
– The total volume of secondary sales increased by 12% from Q1 2023 to Q1 2024.
– The total value of rental income from properties increased by 7% from Q1 2023 to Q1 2024 for new and renewed contracts.
– Leading villa communities such as Jumeirah Islands, Jumeirah Park and Sobha Hartland recorded the largest increase in average price per unit.
square feet from Q1 2023 to Q1 2024 and recorded an increase of 36%.
– Apartment communities like The Greens saw a significant 28% increase in average price per square foot from Q1 2023 to Q1 2024.

Off-plan highlights from Q1 2024

– Off-plan properties performed robustly and accounted for 58% of total sales.
– The average rental yield in Dubai reached an impressive 7.3%, including older properties.
– Selected off-plan projects are expected to generate remarkable returns of up to 10%, attracting the interest of investors looking for lucrative passive income.
– Jumeirah Village Circle (JVC) maintained its position as the top performer in terms of transactions, in line with the community’s expansive growth and investment appeal, closely followed by Dubai Maritime City and Business Bay.

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