Dubai
Market TrendsSales Report Q2 2024
Dubai Property Market Report: Q2 2024 Price Trends and Investment Insights
This report compares and analyzes property sales prices in Dubai for Q2 2024 against those recorded in H2 2023.
The data indicates a continued upward trend in property prices for both villas and apartments across luxury, mid-tier, and affordable segments in Dubai during Q2 2024. Bayut’s analysis of property price trends reveals:
- - In the affordable segment, property prices in Dubai increased by up to 17% in Q2 2024.
- - Mid-tier properties experienced price hikes ranging from 5% to 16%.
- - The average sales price-per-square-foot for luxury properties surged by up to 15%.
According to Bayut’s Dubai real estate sales market report for Q2 2024, investors favored areas such as International City, Jumeirah Village Circle, and Dubai Marina for affordable, mid-tier, and luxury apartments. For buy-to-let villas, the most sought-after locations were DAMAC Hills 2 for affordable properties, JVC for mid-tier, and Arabian Ranches for luxury options.
Data from Dubai Transactions shows a total of 43,075 sales transactions for ready properties (residential and commercial), collectively valued at AED 122.9 billion, during Q2 2024.
Jumeirah Village Circle Continues as Top Choice for Mid-Tier Apartments in Dubai
Average Sales Prices for Mid-Tier Apartments: Bayut Annual Dubai Real Estate Sales Market Report Q4 2024
- Based on Bayut’s Dubai sales market report for Q4 2024, Jumeirah Village Circle remains the top choice for investors seeking mid-tier apartments in Dubai. Jumeirah Lake Towers and Dubai Silicon Oasis also attracted significant buyer interest.
- The price-per-square-foot for apartments in JVC, Jumeirah Lake Towers, and Dubai Silicon Oasis increased by 5% to 12%. Average transaction values in these areas saw appreciations ranging from 12% to 40%.
- Notably, Jumeirah Lake Towers experienced the most significant price movement, with numerous commercial and residential plots sold for future development.
Popular Area for Off Plan Properties in Dubai
In Q4 2024, Dubai's real estate market exhibited impressive growth, reinforcing its status as a prime investment choice. The city saw a notable increase in property values across all segments, driven by strong demand and investor confidence. Both luxury and mid-tier properties experienced significant price appreciation, with Jumeirah Village Circle and Jumeirah Lake Towers emerging as key hotspots. The overall rise in transaction volumes and values highlights Dubai’s continued appeal as a dynamic and lucrative market for investors seeking substantial returns.
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