As Dubai’s real estate market continues to thrive, keeping up to date with the latest market trends can be challenging. That’s why the Espace Real Estate research team publishes monthly Community Reports, providing comprehensive coverage of Dubai’s most sought-after residential areas. We include an analysis of three specific sectors – Villas, Townhouses, and Apartments. These reports offer valuable insights, information, and analysis of the key factors driving the current market trends in the following residential communities; Arabian Ranches, Arabian Ranches 2, Downtown Dubai, Dubai Hills Estate, Dubai Marina, Green Community, Jumeirah Beach Residence (JBR), Jumeirah Golf Estates (JGE) Jumeirah Islands, Jumeirah Park, Palm Jumeirah, The Meadows, The Springs, The Lakes and Victory Heights.
APRIL 2024 INSIGHTS
Recent Transaction Activity:
Retaking the top spot is Downtown Dubai as it recorded the highest number of transactions among the 15 communities tracked with 213 registered transfers at the Dubai Land Department. The highest transfer registered was in the Trident Grans Residence which sold for AED 11,000,000 and the lowest transfer recorded was a studio in Sparkle Tower 3 which sold for AED 976,000. Interested in knowing the recent transactions in your community? Click here to view our April 2024 Dubai Community Reports.
Average Sales Price:
Out of all 15 communities tracked, The Lakes experienced the most significant price increase in April with an 83% increase in average price YoY. While apartments in Jumeirah Golf Estates experienced the most significant price decrease with an 8% decrease in average price YoY. Interested in knowing the Average Sales price in your community? Click here to view our April 2024 Dubai Community Reports.
Rental Transactions:
Among the 15 communities tracked, Jumeirah Beach Residences had the highest number of rental transactions recording 754 rental contracts in April, marking a 29% YoY decrease. While Jumeirah Islands had the lowest rental transaction in April 2024 with 8, marking a 38% YoY decrease. Interested in knowing the recent rental transactions in your community? Click here to view our April 2024 Dubai Community Reports.
Mortgage vs Cash Transactions:
The comparison between mortgage and cash transactions reveals fascinating trends and preferences among property buyers. Palm Jumeirah Villas retains the top spot and stands out as an enclave of exclusivity, with an impressive 79% cash buyer rate. This phenomenon highlights the allure of this iconic location, attracting UHNIs.
On the other end of the scale, Arabian Ranches 2 presents a different narrative, with a substantial 86% of transactions being facilitated through mortgage products and 14% through cash purchases. Click here to view our April 2024 Dubai Community Reports.
Average to Loan Value:
The community that experienced the highest average loan to value was Green Community recording an 82% LTV while the lowest recorded was Jumeirah Golf Estates with 51%. Click here to view our April 2024 Dubai Community Reports.
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