haus & haus releases Q1 Dubai Market Reports 2024

Highlights from the first quarter include total secondary sales value up 25% from last year, The Greens sees prices per sq. ft leap, and the off plan segment continues to soar.

If you’ve been wondering how the Dubai real estate market has fared at the start of 2024, then you’re in luck – our industry leading Market Reports for the first quarter are now published and available for free online.

Combining key insights from the company with notable trends observed on Property Monitor and backed by Dubai Land Department (DLD), there are 30 community reports spread across 27 areas – plus a separate off plan report, showcasing this rising segment.

For investors, buyers, sellers, and tenants weighing up what their next Dubai property move should be, these reports lay out the important facts, stats and trends for key areas such as Arabian Ranches, Dubai Hills Estate, Jumeriah Golf Estates, The Palm Jumeirah, and Downtown Dubai.
 

General Q1 2024 highlights include:

• Total sales value of properties sold increased by 25% from Q1 2023 to Q1 2024 (secondary sales)
• Total sales volume of properties sold increased by 12% from Q1 2023 to Q1 2024 (secondary sales)
• Total rental value of properties increased by 7% from Q1 2023 to Q1 2024 (new and renewal contracts)
• Jumeirah Islands, Jumeirah Park and Sobha Hartland saw the biggest increases in average price per sq. ft from Q1 2023 to Q1 2024 for villa communities (36%)
• The Greens saw the biggest increase in average price per sq. ft from Q1 2023 to Q1 2024 for apartment communities (28%)
   

Off Plan Q1 2024 highlights include:

• Off plan performed well with 58% of total sales
• The average rental yield in Dubai sat at 7.3%, which includes older properties
• Selected off plan projects expected to yield up to 10% ROI, turning the heads of investors seeking rewarding passive incomes
• Jumeirah Village Circle (JVC) continued to see the most transactions in line with the community’s expansive growth and investment potential, followed closely by Dubai Maritime City and Business Bay
   

Thomas Poulson, Sales Director, haus & haus commented: “The haus & haus Q1 Dubai Market Reports 2024 offer truly invaluable insights for anyone considering entering the Dubai real estate market or already on their property journey. They help provide a comprehensive understanding of the current trends and dynamics, allowing our clients to make better informed decisions when it comes to their property journey here in the emirate.”

View the free reports here.