Bayut’s Dubai Sales Market Report for 2024

• At a Glance
• Affordable Apartments
• Mid-tier Apartments
• Luxury Apartments
• Affordable Villas
• Mid-tier Villas
• Luxury Villas
• Highest Rental Yield
• Off-plan Properties

As we move into the new year, it’s time to review the property prices for apartments and villas in Dubai’s popular districts throughout 2024. With Dubai’s real estate sector maintaining its impressive momentum throughout the last calendar year, Bayut’s Dubai sales market analysis 2024 offers a comprehensive analysis of the property price trends observed amidst an undeniably dynamic environment for diversified real estate investments.

We have segregated popular areas for buying apartments and villas into ‘Affordable,’ ‘Mid-tier’ and ‘Luxury’ to offer a more tailored view of the Dubai property market in 2024.

Data sourcing & analysis: All prices in this report are quoted in AED. Asking prices and price per sq. ft by area and bed type, as well as gross rental yields, are based on average listing prices and rents for ready properties on Bayut.com, while transaction prices reflect average sales recorded by the Dubai Land Department (DLD). The analysis compares 2024 with 2023, as of December 2024.

At a Glance

This analysis examines and contrasts property sales prices in Dubai for 2024 with those recorded in 2023.

The findings highlight a consistent rise in property prices across the affordable, mid-tier and luxury segments for both villas and apartments in Dubai during 2024. Bayut’s analysis of property price trends reveals:

• Affordable property prices in Dubai increased by up to 55% in 2024.

• Mid-tier properties experienced price hikes ranging between 20% and 55%.

• Luxury properties saw average sales price-per-square-foot rise by up to 56%.

• According to Bayut’s data, preferred areas for affordable, mid-tier and luxury apartments included Dubai Silicon Oasis, Jumeirah Village Circle and Dubai Marina, respectively.

• Villa buyers searched most for DAMAC Hills 2 (affordable), Al Furjan (mid-tier) and Dubai Hills Estate (luxury).
• For buyers: studios were cheapest in Dubai Silicon Oasis (AED 421,000) and Dubai Sports City (AED 467,000), both yielding over 9%; villas saw the steepest rises, up to 56% per sq. ft.

Dubai Land Department data shows 226,000 real estate transactions worth AED 761 billion in 2024.

For an accurate representation of Dubai property price trends, Bayut’s Dubai Sales Market Report 2024 compares the average price-per-square-foot for an area to the previous time period. Please note that these prices are subject to change based on multiple factors including amenities available, the developer involved in the project, location and other key factors.

Dubai Silicon Oasis Is the Most Popular Area To Buy Affordable Apartments in Dubai

Average Sales Prices for Affordable Apartments

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	STUDIO	1-BED	2-BED
Dubai Silicon Oasis (DSO)	Rental Yield 9.15%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 835 28.6%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 595,474 21.1%	STUDIO 421,000	1-BED 638,000	2-BED 1,126,000
Dubai Sports City	Rental Yield 9.34%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 864 26.7%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 636,868 24.1%	STUDIO 467,000	1-BED 680,000	2-BED 1,049,000
Arjan	Rental Yield 7.87%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,203 18.2%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 789,667 25.8%	STUDIO 559,000	1-BED 933,000	2-BED 1,361,000

• Buyers searching for affordable apartments in Dubai favoured Dubai Silicon Oasis, Dubai Sports City and Arjan.

• Price-per-square-foot in these districts showed increases ranging from 18% to 29%.

• Sales transaction history for these areas showed overall price growth of 21% to 26%.

Jumeirah Village Circle Has Remained the Most Popular Area To Buy Mid-Tier Apartments in Dubai

Average Sales Prices for Mid-Tier Apartments

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	STUDIO	1-BED	2-BED
Jumeirah Village Circle (JVC)	Rental Yield 8.26%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,218 24.5%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 874,707 26.4%	STUDIO 589,000	1-BED 915,000	2-BED 1,417,000
Business Bay	Rental Yield 6.65%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 2,002 20.4%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 1,614,210 7.81%	STUDIO 986,000	1-BED 1,543,000	2-BED 2,355,000
Jumeirah Lake Towers (JLT)	Rental Yield 7.99%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,431 34.2%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 1,657,744 40.3%	STUDIO 774,000	1-BED 1,233,000	2-BED 1,917,000

• Jumeirah Village Circle remained the leading choice for mid-tier apartment buyers, with significant interest also shown in Business Bay and Jumeirah Lake Towers.

• Price-per-square-foot for sale apartments in JVC, Business Bay and Jumeirah Lake Towers increased by between 20% and 35%.

Dubai Marina Holds Investor Interest for Luxury Apartments in 2024

Average Sales Prices for Luxury Apartments

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	1-BED	2-BED	3-BED
Dubai Marina	Rental Yield 6.69%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,913 22.5%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 2,111,732 12.3%	1-BED 1,604,000	2-BED 2,570,000	3-BED 4,096,000
Downtown Dubai	Rental Yield 6.10 %	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 2,853 19.8%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 3,145,713 18.2%	1-BED 2,081,000	2-BED 3,942,000	3-BED 6,483,000
Palm Jumeirah	Rental Yield 5.62%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 2,730 22.4%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 4,354,249 -8.40%	1-BED 2,883,000	2-BED 4,580,000	3-BED 6,453,000

• Dubai Marina, Downtown Dubai and Palm Jumeirah were the top picks for investors and home buyers seeking luxury apartments in 2024.

• Apartments in these premium districts experienced price increases of between 19% and 23%.

• Historical sales data for these locations revealed similar upward trends, with price growth ranging from 12% to 19%. However, the transaction history in Palm Jumeirah revealed an 8.40% dip in prices as per the DLD.

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Damac Hills 2 Ranks As the Most Popular Choice for Buying Affordable Villas in Dubai

Average Sales Prices for Affordable Villas

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	3-BED	4-BED	5-BED
DAMAC Hills 2	Rental Yield 6.66%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 887 33.5%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 2,026,945 44.4%	3-BED 1,569,000	4-BED 1,849,000	5-BED 2,344,000
Dubailand	Rental Yield 6.15%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,272 40.6%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 5,370,152 142.2%	3-BED 2,577,000	4-BED 3,242,000	5-BED 5,795,000
Dubai South	Rental Yield 5.57%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,097 54.7%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 2,268,629 31.5%	3-BED 2,139,000	4-BED 2,995,000	5-BED 3,800,000

• Villas in DAMAC Hills 2, Dubailand and Dubai South were the most attractive options for buyers seeking affordable villas.

• Sale prices-per-square-foot in these areas rose by 33% to 55%, with Dubai South recording the highest growth, following the announcement of the significant Al Maktoum International Airport expansion.

Al Furjan Ranks As the Most Popular Choice for Buying Mid-Tier Villas in Dubai

Average Sales Prices for Mid-Tier Villas

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	3-BED	4-BED	5-BED
Al Furjan	Rental Yield 6.80%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,238 34.8%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 4,090,396 23.5%	3-BED 3,368,000	4-BED 4,675,000	5-BED 7,251,000
Jumeirah Village Circle (JVC)	Rental Yield 8.01%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,112 54.1%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 3,042,569 29.3%	3-BED 2,652,000	4-BED 3,121,000	5-BED 3,272,000
The Springs	Rental Yield 5.24%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,777 45.2%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 4,347,462 24.4%	3-BED 4,671,000	4-BED 4,859,000	5-BED 8,298,000

• The mid-tier villas in Al Furjan, Jumeirah Village Circle and The Springs attracted significant property-seeker interest during 2024.

• Price-per-square-foot in these areas increased by between 34% and 55%, with villas for sale in Jumeirah Village Circle experiencing the highest appreciation fuelled by increasing demand.

• Dubai Land Department data showed overall transaction price growth of between 23% and 30% for properties in these districts.

Dubai Hills Estate Holds the Top Spot for Buying Luxury Homes in Dubai

Average Sales Prices for Luxury Villas

POPULAR AREAS	Rental Yield	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023	TRANSACTION PRICE Avg. Transaction PriceChange from 2023	4-BED	5-BED	6-BED
Dubai Hills Estate	Rental Yield 5.06%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 2,233 48.1%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 9,399,504 30.6%	4-BED 6,522,000	5-BED 12,339,000	6-BED 35,517,000
DAMAC Hills	Rental Yield 5.94%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,523 36.8%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 4,509,165 7.46%	4-BED 3,899,000	5-BED 8,222,000	6-BED 10,900,000
Arabian Ranches	Rental Yield 4.40%	PRICE PER SQ.FT Avg. Price/sq.ftChange from 2023 1,875 55.9%	TRANSACTION PRICE Avg. Transaction PriceChange from 2023 6,847,159 23.0%	4-BED 7,465,000	5-BED 11,775,000	6-BED 17,156,000

• Dubai Hills Estate, DAMAC Hills and Arabian Ranches emerged as preferred areas for luxury villas during 2024.

• Sale prices-per-square-foot for villas in these areas increased by 36% to 56%, with villas in Arabian Ranches recording the most significant growth due to heightened demand for family-friendly residences.

• DLD data also indicated similar increases, with transaction prices rising by between 7% and 31%.

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Areas With the Best Rental Yields for Apartments and Villas in Dubai

Highest Rental Yields for Apartments in Dubai

AREA	SEGMENT	Rental Yield
AREA Dubai Investment Park (DIP)	SEGMENT Affordable	Rental Yield 11.2%
AREA Living Legends	SEGMENT Mid-tier	Rental Yield 10.1%
AREA Al Sufouh	SEGMENT Luxury	Rental Yield 9.18%

• Areas with the best rental yields for apartments included Dubai Investment Park (affordable), Living Legends (mid-tier) and Al Sufouh (luxury).

• Other high-yielding districts:
  • Affordable: Discovery Gardens (10.0%), Liwan (9.47%).
  • Mid-tier: Motor City (8.71%), Al Furjan (8.70%).
  • Luxury: Green Community (8.69%), Al Barari (7.90%).

Highest Rental Yields for Villas in Dubai

AREA	SEGMENT	Rental Yield
AREA Dubai Industrial City	SEGMENT Affordable	ROI 7.17%
AREA Jumeirah Village Circle (JVC)	SEGMENT Mid-tier	ROI 8.01%
AREA The Sustainable City	SEGMENT Luxury	ROI 7.27%

• The highest rental yields for villas were in Dubai Industrial City (affordable), Jumeirah Village Circle (mid-tier) and The Sustainable City (luxury).

• Other districts with strong yields:
  • Affordable: International City (6.73%), DAMAC Hills 2 (6.66%).
  • Mid-tier: Al Furjan (6.80%), Jumeirah Village Triangle (6.42%).
  • Luxury: Al Barari (6.56%), Tilal Al Ghaf (6.46%).

These are gross rental yields based on average asking prices and rents; actual returns vary with the building, developer, amenities and costs.

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Popular Areas for Off-Plan Properties in Dubai

Top Projects for Off-Plan Apartments in Dubai

PROJECT	AREA	SEGMENT
PROJECT Verdana Residence	AREA Dubai Investment Park (DIP)	SEGMENT Affordable
PROJECT Tria	AREA Dubai Silicon Oasis	SEGMENT Affordable
PROJECT International City Phase 2 (Warsan 4)	AREA International City	SEGMENT Affordable
PROJECT JVC District 12	AREA Jumeirah Village Circle (JVC)	SEGMENT Mid-tier
PROJECT JVT District 3	AREA Jumeirah Village Triangle (JVT)	SEGMENT Mid-tier
PROJECT Golf Views Seven City	AREA Jumeirah Lake Towers (JLT)	SEGMENT Mid-tier
PROJECT Emaar Beachfront	AREA Dubai Harbour	SEGMENT Luxury
PROJECT Vida Dubai Mall	AREA Downtown Dubai	SEGMENT Luxury
PROJECT The Palm Beach Towers	AREA Palm Jumeirah	SEGMENT Luxury

Buyers searching for affordable off-plan apartments showed interest in suburban communities such as:

• Verdana Residence (Dubai Investment Park)
• Tria (Dubai Silicon Oasis)
• International City Phase 2

Mid-tier apartment buyers favoured projects such as:

• District 12 in JVC
• District 3 in Jumeirah Village Triangle (JVT)
• Golf Views Seven City in JLT

Centrally located high-end off-plan apartments were most popular among investors, who mainly focused on:

• Emaar Beachfront in Dubai Harbour
• Vida Dubai Mall in Downtown Dubai
• The Palm Beach Towers in Palm Jumeirah.

Top Projects for Off-Plan Villas in Dubai

PROJECT	AREA	SEGMENT
PROJECT Verdana 2	AREA Dubai Investment Park (DIP)	SEGMENT Affordable
PROJECT Villanova	AREA Dubailand	SEGMENT Affordable
PROJECT Camelia	AREA DAMAC Hills 2	SEGMENT Affordable
PROJECT Al Furjan West	AREA Al Furjan	SEGMENT Mid-tier
PROJECT Mudon Al Ranim	AREA Mudon	SEGMENT Mid-tier
PROJECT Bliss	AREA Arabian Ranches 3	SEGMENT Mid-tier
PROJECT District 11	AREA Mohammed Bin Rashid City	SEGMENT Luxury
PROJECT Harmony	AREA Tilal Al Ghaf	SEGMENT Luxury

Affordable off-plan villa buyers showed a preference for:

• Verdana 2 in DIP
• Villanova in Dubailand
• Camelia in DAMAC Hills 2

Buyers interested in mid-tier off-plan villas mostly gravitated towards developments such as:

• Al Furjan West in Al Furjan
• Mudon Al Ranim in Mudon
• Bliss in Arabian Ranches 3

Investors looking for luxury off-plan villas, focused on:

• District 11 in Mohammed Bin Rashid City
• Harmony in Tilal Al Ghaf Dubai

Commenting on the findings, Haider Ali Khan, CEO of Bayut and dubizzle, CEO of Dubizzle Group MENA and board member of the Dubai Chamber of Digital Economy, said:

“Dubai’s real estate market is buzzing right now and it’s easy to see why. Luxury properties in areas such as Palm Jumeirah and Dubai Hills Estate are breaking records, with buyers from Europe and Asia flocking to secure ultra-high-end homes. At the same time, we’re seeing tremendous interest in emerging areas such as Dubai South and Dubai Creek Harbour, driven by improved infrastructure and strategic locations.

This presents exciting opportunities for everyone in the industry. Dubai is cementing its place as a global lifestyle and investment destination, and I feel the next few years are poised to redefine the market.

At Bayut, we’re leading this transformation with our innovative tools and features. TruBroker™ connects buyers with trusted professionals, while Dubai Transactions provides transparency on market trends, and TruEstimate™ ensures accurate property valuations. These solutions are empowering buyers, sellers and agents to make informed decisions and to navigate Dubai’s evolving property landscape with increased confidence.”

Stay tuned for Bayut’s upcoming 2024 Abu Dhabi Real Estate Market Report, which will provide further insights into the region’s property trends.

Disclaimer: This report is based on property listing prices advertised on Bayut.com by real estate agencies on behalf of their clients. Figures represent advertised prices only and do not reflect actual transaction prices unless stated. Reported price metrics are calculated as averages after removing outliers to reduce the influence of extreme values and provide a more robust summary of advertised market prices.