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Insights - Top 10 Communities with the Highest Property Value Growth in the Last 6 Months
Top 10 Communities with the Highest Property Value Growth in the Last 6 Months
- Better Informed
- 14 Feb, 2024
- 8 min read
Table of Contents
- Jumeirah Village Circle
- Total Sales Value for Apartments
- Total Sales Value for villas
- Mohammad Bin Rashid City
- Total Sales Value for Apartments
- Total Sales Value for villas
- Sobha Hartland
- Total Sales Value for Apartments
- Total Sales Value for villas
- Arjan
- Total Sales Value for Apartments
- Dubai South
- Total Sales Value for Apartments
- Total Sales Value for Villas
- Dubai Marina
- Total Sales Value for Apartments
- Dubai Creek Harbour
- Total Sales Value for Apartments
- Al Furjan
- Total Sales Value for Apartments
- Total Sales Value for villas
- Dubai Residence Complex
- Total Sales Value for Apartments
- Palm Jumeirah
- Total Sales Value for apartments
- Total Sales Value for villas
How much can property values soar in Dubai? With its skyline constantly evolving, Dubai has become a focal point for real estate investors globally.
- Dubai's market defies expectations with some communities seeing property values skyrocket in just 6 months
- Leading the charge, one community boasts unprecedented growth, marking it as a hotbed for investors and residents alike
However, not all investments are created equal. In a groundbreaking analysis, we delve into the heart of Dubai's real estate market to uncover the top 10 communities experiencing explosive growth in property values. Leveraging sales data, market trends, and a keen understanding of demand-supply dynamics over the last six months, this blog offers a rare glimpse into the areas that are not just thriving but setting new benchmarks in real estate investment. Whether you're a current property owner in these prime locations or considering your next big investment, the findings of our latest study promise insights into where the market is headed and why now is the time to act.
Jumeirah Village Circle
Jumeirah Village Circle (JVC) is a residential community known for its affordable properties and family-friendly environment. The community offers a mix of villas, townhouses, and apartments. The property value growth in JVC can be attributed to its affordable pricing, well-planned infrastructure, and a range of community facilities.
Total Sales Value for Apartments
Total apartments sold: 6,873
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 1,184,661,612 | 605,346 | 1,445 |
| 1 Bed | 3,475,200,875 | 882,927 | 1,180 |
| 2 Bed | 1,253,167,453 | 1,432,191 | 1,127 |
| 3 Bed | 182,359,531 | 1,842,015 | 1,120 |
| 4 Bed | 11,734,336 | 3,911,445 | 903 |
Source: Property Monitor
1-bedroom units have the highest total sales value of AED 3,475,200,875, with an average price of AED 882,927 and an average price per square foot of AED 1,180. Based on affordability and demand, 1-bedroom and studio apartments are the most in-demand properties in JVC.
Total Sales Value for villas
Total villas sold: 31
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 2 Bed | 55,724,000 | 3,277,882 | 1,188 |
| 3 Bed | 8,095,000 | 2,023,750 | 710 |
| 4 Bed | 33,280,000 | 3,328,000 | 910 |
Source: Property Monitor
Although there is little demand for villas, 2-bedroom villas are popular, with 17 villas sold out of 31 in the last six months.
Mohammad Bin Rashid City
Mohammad Bin Rashid City is one of the top communities in Dubai that has witnessed remarkable property value growth. This mega-development project is spread over 54 million square feet and offers a mix of residential, commercial, and leisure properties. The planned location, proximity to the city centre, and easy access to main highways have contributed to the increasing property values in this area.
Total Sales Value for Apartments
Total apartments sold: 2,473
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 829,760,435 | 576,623 | 1,600 |
| 1 Bed | 815,236,125 | 1,154,725 | 1,667 |
| 2 Bed | 506,493,411 | 2,241,121 | 1,899 |
| 3 Bed | 329,731,337 | 3,470,856 | 1,836 |
| 4 Bed | 28,385,500 | 9,461,833 | 2,186 |
Source: Property Monitor
Studio apartments have the highest total sales value of AED 829,760,435, with an average price of AED 576,623 and an average price per square foot of AED 1,600. One-bedroom apartments in Mohammad Bin Rashid City are also in high demand, likely appealing to buyers seeking spacious accommodation at an affordable price.
Total Sales Value for villas
Total villas sold: 124
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 4 Bed | 517,028,280 | 11,489,517 | 1,870 |
| 5 Bed | 467,709,780 | 16,127,923 | 2,195 |
| 6 Bed | 416,357,284 | 34,696,440 | 3,316 |
Source: Property Monitor
4 and 5-bedroom villas stand out with a total sales value of AED 517,028,280 and AED 467,709,780, respectively. If you own any of these two property types and want to sell them, now is the ideal time.
Sobha Hartland
Sobha Hartland is another community within Mohammad Bin Rashid City that has seen excellent property value growth. The residential development offers a luxurious lifestyle with high-end villas and apartments. The community is known for its green spaces and has become a prime choice for buyers.
Total Sales Value for Apartments
Total apartments sold: 2,313
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 25,075,211 | 864,662 | 1,793 |
| 1 Bed | 1,679,227,922 | 1,406,389 | 1,956 |
| 2 Bed | 1,763,759,356 | 2,302,558 | 1,918 |
| 3 Bed | 716,458,484 | 3,142,362 | 1,894 |
| 4 Bed | 428,182,257 | 4,507,182 | 1,856 |
Source: Property Monitor
The total sales value for 2-bedroom apartments is notably higher at AED 1,763,759,356 compared to other apartment types, followed by 1-bedroom apartments at AED 1,679,227,922. Despite the high total sales value, the average price per square foot for 2-bedroom apartments (AED 1,918) is lower compared to 1-bedroom apartments (AED 1,956). The data suggests a strong demand for mid-sized units in Sobha Hartland.
Total Sales Value for villas
Total villas sold: 54
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 4 Bed | 123,614,923 | 11,237,720 | 1,981 |
| 5 Bed | 166,466,398 | 16,646,640 | 2,127 |
| 6 Bed | 40,500,000 | 40,500,000 | 2,129 |
Source: Property Monitor
5-bedroom villas recorded a total sales value of AED 166,466,398. 4-bedroom villas are a more affordable option with an average price per square foot of AED 1,981. They would appeal to buyers seeking a balance between space and affordability.
Arjan
Arjan is an emerging community in Dubai that has witnessed fast property value growth in recent years. It is known for its affordable housing options and family-friendly environment. The ongoing infrastructure development has further increased the value of properties in Arjan.
Total Sales Value for Apartments
Total apartments sold: 1,989
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 437,676,917 | 584,348 | 1,384 |
| 1 Bed | 829,510,299 | 915,574 | 1,164 |
| 2 Bed | 405,602,668 | 1,300,009 | 1,029 |
| 3 Bed | 36,552,006 | 1,661,455 | 995 |
Source: Property Monitor
1-bedroom apartments stand out with the highest total sales value of AED 829,510,299. Despite the lower total sales value than 1-bedroom apartments, studio apartments have the highest average price per square foot (AED 1,384). Therefore, considering market demand, pricing dynamics, and consumer preferences, 1-bedroom apartments and studio apartments could be the best properties to sell in Arjan.
Dubai South
Dubai South, previously known as Dubai World Central, is a master-planned city near the Al Maktoum International Airport. The community has gained popularity due to its focus on sustainability and innovation. Dubai South offers villas and apartments, along with commercial and industrial spaces.
Total Sales Value for Apartments
Total apartments sold: 541
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 30,398,500 | 379,981 | 902 |
| 1 Bed | 101,484,595 | 825,078 | 1,001 |
| 2 Bed | 471,580,910 | 1,766,221 | 1,305 |
| 3 Bed | 151,988,435 | 2,235,124 | 1,182 |
| 4 Bed | 16,635,384 | 5,545,128 | 1,492 |
Source: Property Monitor
2-bedroom units are the most profitable and boast the highest total sales value of AED 471,580,910, with an average price per square foot of AED 1,305. 1-bedroom units have a more affordable average price per square foot (AED 1,001), potentially attracting budget-conscious buyers. Therefore, both 1-bedroom and 2-bedroom apartments could be the best options for selling in Dubai South.
Total Sales Value for Villas
Total villas sold: 350
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 3 Bed | 333,267,819 | 3,299,681 | 1,104 |
| 4 Bed | 929,731,438 | 5,374,170 | 1,623 |
| 5 Bed | 548,151,369 | 9,135,856 | 1,552 |
| 6 Bed | 193,750,000 | 13,839,286 | 1,234 |
Source: Property Monitor
4-bedroom villas are in demand, with the highest total sales value of AED 929,731,438. 3-bedroom villas are more affordable per square foot (AED 1,104), potentially appealing to buyers seeking value for money. Therefore, 3-bedroom and 4-bedroom villas are the most popular properties in the villa segment.
Dubai Marina
Dubai Marina is a waterfront community known for its skyscrapers, waterfront promenade, and luxurious lifestyle. The community offers residential and commercial properties, including luxury apartments and penthouses.
Total Sales Value for Apartments
Total apartments sold: 1,359
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 72,864,163 | 877,881 | 1,846 |
| 1 Bed | 816,172,233 | 1,431,881 | 1,748 |
| 2 Bed | 1,097,653,800 | 2,315,725 | 1,681 |
| 3 Bed | 732,358,839 | 3,794,605 | 1,740 |
| 4 Bed | 212,672,735 | 7,876,768 | 1,752 |
Source: Property Monitor
2-bedroom apartments have a high total sales value, and 1-bedroom units have an affordable average price per square foot (AED 1,748). Selling 1-bedroom apartments at this time could yield favourable results. 3 and 4-bedroom apartments have higher average prices. They cater to specific luxury market segments and may require targeted marketing strategies.
Dubai Creek Harbour
Dubai Creek Harbour is a waterfront community situated on the banks of the historic Dubai Creek. The proximity to Downtown Dubai and the Dubai International Airport has contributed to the rising property values in Dubai Creek Harbour.
Total Sales Value for Apartments
Total apartments sold: 1,113
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 1 Bed | 751,214,577 | 1,665,664 | 2,148 |
| 2 Bed | 1,044,647,385 | 2,493,192 | 2,120 |
| 3 Bed | 756,786,740 | 3,638,398 | 2,109 |
| 4 Bed | 221,669,521 | 6,333,415 | 2,409 |
Source: Property Monitor
There is a strong demand for 1 and 2-bedroom apartments in Dubai Creek Harbour. 2-bedroom apartments have a high total sales value and a slightly more affordable average price per square foot (AED 2,120). But 1, 2, and 3-bedroom apartments can sell quickly in the current market conditions.
Al Furjan
Al Furjan is a well-established community in Dubai that has experienced steady property value growth over the years. Al Furjan is known for its family-friendly environment, community parks, and easy access to schools, retail outlets, and healthcare facilities. These elements have been a key driver of its property value growth.
Total Sales Value for Apartments
Total apartments sold: 708
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 59,321,489 | 498,500 | 1,215 |
| 1 Bed | 176,912,530 | 875,805 | 1,054 |
| 2 Bed | 405,556,883 | 1,308,248 | 1,037 |
| 3 Bed | 148,227,411 | 1,925,031 | 962 |
Source: Property Monitor
2-bedroom units lead in total sales value at AED 405,556,883, with an average price per square foot of AED 1,037. Studio apartments alongside 1-bedroom apartments are also in demand. The apartments in Al Furjan appeal to budget-conscious buyers.
Total Sales Value for villas
Total villas sold: 188
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 3 Bed | 86,758,800 | 3,470,352 | 1,217 |
| 4 Bed | 327,568,441 | 4,426,601 | 964 |
| 5 Bed | 201,487,200 | 5,445,600 | 1,055 |
Source: Property Monitor
4-bedroom villas are high in demand, with a total sales value of AED 327,568,441. This trend indicates a preference for spacious family homes among buyers in Al Furjan.
Dubai Residence Complex
Dubai Residence Complex offers affordable housing options in Dubai. It is known for its well-planned infrastructure, amenities, and community services. The community's affordability, convenient location, and connectivity have made it a popular buyer choice.
Total Sales Value for Apartments
Total apartments sold: 983
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 93,414,792 | 420,787 | 921 |
| 1 Bed | 262,471,403 | 652,914 | 828 |
| 2 Bed | 280,696,967 | 863,683 | 742 |
| 3 Bed | 43,555,604 | 1,281,047 | 871 |
Source: Property Monitor
1 and 2-bedroom apartments have a high total sales value in Dubai Residence Complex. Selling studio, 1 and 2-bedroom apartments will be easier in the current market condition. 3-bedroom apartments have a lower total sales value. Their average price per square foot is relatively higher, indicating a potential niche market for larger units.
Palm Jumeirah
Palm Jumeirah is a man-made island known for its luxurious villas and waterfront apartments. The community offers stunning views of the Arabian Gulf and world-class amenities such as private beach access, marinas, and gourmet restaurants. The exclusivity of Palm Jumeirah, combined with its prime location, has contributed to its high property value growth.
Total Sales Value for apartments
Total apartments sold: 610
| Apartment Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| Studio | 40,598,874 | 1,845,403 | 3,447 |
| 1 Bed | 330,460,357 | 2,848,796 | 2,392 |
| 2 Bed | 1,858,171,539 | 7,258,483 | 3,497 |
| 3 Bed | 1,769,946,550 | 12,552,812 | 3,581 |
| 4 Bed | 2,592,751,700 | 45,486,872 | 5,968 |
Source: Property Monitor
Apartment sales generated a combined total of AED 5,591,828,020, with studios comprising AED 40,598,874, one-bedroom units AED 330,460,357, two-bedroom units AED 1,858,171,539, three-bedroom units AED 1,769,946,550, and four-bedroom units AED 2,592,751,700.
Total Sales Value for villas
Total villas sold: 60
| Villa Type | Total Price (AED) | Average Price (AED) | Average Price (AED/sq ft) |
| 3 Bed | 85,700,000 | 21,425,000 | 4,683 |
| 4 Bed | 593,270,000 | 29,663,500 | 5,915 |
| 5 Bed | 532,635,000 | 38,045,357 | 6,118 |
| 6 Bed | 1,730,850,000 | 96,158,333 | 7,759 |
Source: Property Monitor
Villa sales amounted to AED 3,010,455,000, with three-bedroom villas totalling AED 85,700,000, four-bedroom villas AED 593,270,000, five-bedroom villas AED 532,635,000, six-bedroom villas AED 1,730,850,000.
The recent market activity indicates a healthy demand for apartments in Palm Jumeirah, especially two-bedroom apartments. Three and four-bedroom units also show substantial sales value. The high sales value of two, three, and four-bedroom apartments indicates a strong market demand, potentially leading to quicker transactions and favourable selling prices.
Each of these communities makes up about 3-5% of all the property sales happening in Dubai. Factors such as location, infrastructure development, amenities, and demand from buyers contribute to the growth of these communities. If you own a property in these communities, selling and upgrading to a larger property would be ideal.
