Business Bay Q1 2025 Resale Report
(1st January - 31th March 2025)
AED 2,022
Average price per sq.ft.
Compared to Q1 2024
943 transactions
AED 1.741B total resale value
Apartments in Business Bay Q1 2025 Resale Report
Executive Summary
One-bedroom apartments accounted for the largest share of resale activity in Business Bay during Q1 2025, with 416 transactions at an average price of AED 1,502,889, though transaction count declined 6.0% year-over-year. Studios recorded 252 transactions in Q1 2025 at an average price of AED 1,068,091, down 5.0% in transaction count compared to Q1 2024. Two-bedroom units saw 207 transactions at an average price of AED 2,364,822 in Q1 2025, with transaction count rising 23.0% year-over-year, while three-bedroom apartments recorded 56 transactions at an average price of AED 4,620,642, up 24.0% in transaction count. The off-plan primary market in Business Bay registered 1,387 transactions in Q1 2025 with a combined value of AED 3,498,402,708, exceeding the resale market in both transaction volume and total value for the quarter.
Key Facts
- In Q1 2025, the average resale price per square foot for apartments in Business Bay reached AED 2,022, representing a year-over-year increase of 10.7%.
- Business Bay recorded 943 resale apartment transactions in Q1 2025, up 1.6% compared to the same quarter in 2024.
- The total value of resale apartment transactions in Business Bay during Q1 2025 was AED 1,740,987,948, marking a 15.9% year-over-year increase.
- Ready properties accounted for 69.8% of resale transactions in Business Bay during Q1 2025, while off-plan completions represented 30.2%.
- One-bedroom apartments led resale activity in Business Bay with 416 transactions in Q1 2025, though this represented a 6.0% year-over-year decline in transaction count.
- Two-bedroom apartment resale transactions in Business Bay totaled 207 units in Q1 2025 at an average price of AED 2,364,822, reflecting a 23.0% year-over-year increase in transaction volume.
- Studio apartments in Business Bay recorded 252 resale transactions in Q1 2025 at an average price of AED 1,068,091, with transaction count declining 5.0% year-over-year.
Key Performance Indicators
Key Performance Indicators
Resale - Q1 2025
Rental - Q1 2025
Source: Property Monitor, Metropolitan Premium Properties Analysis
Price Trend
Price Trend - Business Bay Apartments
Average Price per Sq. Ft - Business Bay Apartments
| Period | Average Price per Sq. Ft (AED) |
|---|---|
| Q1 2024 | 1,827 |
| Q2 2024 | 1,824 |
| Q3 2024 | 1,852 |
| Q4 2024 | 1,976 |
| Q1 2025 | 2,022 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Business Bay Apartments transactions split between off-plan and ready in Q1 2025?
In Q1 2025, ready apartments dominated Business Bay transactions, accounting for 69.8% of deals compared to 30.2% for off-plan properties. The value distribution closely tracked transaction counts, with ready units representing 66.9% of total transaction value and off-plan capturing 33.1%. The modest gap between transaction share and value share indicates that off-plan apartments carried a slightly higher average deal size relative to ready properties during the quarter.
Which Apartments bedroom configurations recorded the highest resale activity in Business Bay during Q1 2025?
In Q1 2025, one-bedroom apartments dominated transaction activity in Business Bay with 416 sales, followed by studio units at 252 transactions and two-bedroom properties at 207 transactions. Average prices across reportable configurations ranged from AED 1,068,091 for studios to AED 5,285,300 for four-bedroom units. Two-bedroom and three-bedroom apartments recorded notable year-on-year transaction growth of 23.0% and 24.0% respectively, while studio and one-bedroom segments declined 5.0% and 6.0% over the same period.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 1,068,091 | +11.6% | 252 | -5% |
| 1 B/R | AED 1,502,889 | +7.4% | 416 | -6% |
| 2 B/R | AED 2,364,822 | -6.3% | 207 | +23% |
| 3 B/R | AED 4,620,642 | +20.6% | 56 | +24% |
| 4 B/R | AED 5,285,300 | +15.6% | 10 | +43% |
| 5 B/R | AED 22,750,000 | N/A | 2 | N/A |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - Q1 2025
| Bedroom Type | Transactions |
|---|---|
| Studio Bed | 252 |
| 1 B/R Bed | 416 |
| 2 B/R Bed | 207 |
| 3 B/R Bed | 56 |
| 4 B/R Bed | 10 |
| 5 B/R Bed | 2 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Business Bay perform in Q1 2025?
In Q1 2025, off-plan apartment transactions in Business Bay totaled 1,387 units, declining 1.4% year-over-year, with a combined value of AED 3,498,402,708, down 5.8% compared to Q1 2024. Off-plan sales represented approximately 60% of all apartment transactions in the community during the quarter, while resale activity accounted for 943 units valued at AED 1,740,987,948. The off-plan segment generated roughly twice the transaction value of the resale market in Business Bay for the period.
Rental Summary
Rental Contract Distribution - Q1 2025
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 70,687 | +9.7% | 807 | +53% |
| 1 B/R | AED 92,916 | +6.5% | 1523 | +82% |
| 2 B/R | AED 127,850 | +6.5% | 1098 | +72% |
| 3 B/R | AED 176,064 | +13.9% | 357 | +59% |
| 4 B/R | AED 289,500 | +14% | 31 | +55% |
| 5 B/R | AED 1,234,996 | -8% | 3 | +50% |
| 7 B/R | AED 1,000,000 | N/A | 1 | N/A |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- Q1 2025
## Dubai Market Overview
In Q1 2025, Dubai recorded 155,219 rental transactions and 42,310 sale transactions, underscoring the emirate's rental-dominant activity profile. Of all sales in Dubai during the quarter, initial sales accounted for 62.6% of transactions while resale properties comprised 37.4%. Rental contract activity in Dubai during Q1 2025 split 65.8% renewals and 34.2% new contracts, reflecting a market where existing tenancies continued at roughly twice the rate of fresh lettings.
Dubai Overall Market Context
Dubai Apartments Market Totals - Q1 2025
| Category | Percentage |
|---|---|
| Initial Sale | 62.6% |
| Resale | 37.4% |
| Category | Percentage |
|---|---|
| New | 34.2% |
| Renewal | 65.8% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Frequently Asked Questions
What was the average price per square foot for resale apartments in Business Bay in Q1 2025?
How many resale apartment transactions occurred in Business Bay during Q1 2025?
What was the total transaction value for resale apartments in Business Bay in Q1 2025?
What was the average resale price for a one-bedroom apartment in Business Bay in Q1 2025?
What was the average resale price for a two-bedroom apartment in Business Bay in Q1 2025?
What share of Business Bay resale apartment transactions were ready properties versus off-plan in Q1 2025?
What was the average resale price for a studio apartment in Business Bay in Q1 2025?
How many off-plan primary market apartment transactions were recorded in Business Bay in Q1 2025?
Methodology
This analysis draws on Property Monitor's transaction register, which aggregates Dubai Land Department resale registrations for Business Bay apartments between 1 January and 31 March 2025. Year-on-year comparisons reference the equivalent quarter in 2024, with the average price per square foot of AED 2,022 reflecting a 10.7% increase and the transaction count of 943 representing a 1.6% rise over that baseline. Readers should note that resale figures exclude off-plan sales, which totaled 1,387 transactions in the same period, and that registration dates may lag actual transaction completion by several weeks, meaning some agreements finalized in late Q4 2024 could appear in this dataset while late-Q1 deals may register in Q2.
Glossary
- PSF
- Price per square foot, calculated by dividing the transaction price by the property's area in square feet. This metric allows standardized comparison across properties of different sizes.
- Off-plan
- Properties sold by developers before construction is complete, typically purchased through payment plans during the building phase.
- Secondary market
- Properties sold between private parties rather than purchased directly from developers, encompassing both completed units and off-plan properties being resold.
- Ready property
- Completed properties that are immediately available for occupation or rental, as distinct from units still under construction.
- Resale
- A transaction where the seller is an individual or entity other than the original developer, regardless of whether the property is completed or still off-plan.
- AED/sqft
- The price denominated in United Arab Emirates Dirhams per square foot of built-up area, the standard unit for expressing Dubai property prices.
- Business Bay
- A mixed-use district in central Dubai characterized by high-rise residential and commercial towers, located along an extension of Dubai Creek.
- Sale classification
- A categorization system dividing transactions into Off-Plan Developer Sale, Resale Off-Plan Origin, and Resale based on seller type and property development status.
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