DAMAC Hills 2 Townhouses and Villas 2024 Resale Report
(1st January - 31st December 2024)
AED 788
Average price per sq. ft
Compared to 2023
879 transactions
AED 1.446B total resale value
Townhouses & Villas in DAMAC Hills 2 2024 Resale Report
Key Facts
- In 2024, the average resale price per square foot for townhouses and villas in DAMAC Hills 2 was AED 788, representing a 21.0% year-over-year increase.
- DAMAC Hills 2 recorded 879 resale transactions for townhouses and villas in 2024, a 20.7% increase compared to 2023.
- The total resale transaction value in DAMAC Hills 2 for 2024 reached AED 1,445,932,177, up 49.1% year-over-year.
- All 879 resale transactions in DAMAC Hills 2 during 2024 were for ready (completed) properties, with zero off-plan resales.
- Three-bedroom townhouses and villas dominated the DAMAC Hills 2 resale market in 2024 with 634 transactions at an average price of AED 1,423,546.
- Four-bedroom units in DAMAC Hills 2 saw the strongest growth in 2024 with 163 resale transactions, a 133.0% year-over-year increase, at an average price of AED 2,097,811.
- The off-plan primary market in DAMAC Hills 2 recorded 2,684 transactions in 2024 with a total value of AED 5,925,120,780.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did DAMAC Hills 2 Townhouses & Villas transactions split between off-plan and ready in 2024?
In 2024, all townhouse and villa transactions in DAMAC Hills 2 were for ready properties, with off-plan sales accounting for 0.0% of both transaction volume and total value. The completion-status distribution shows complete concentration in the secondary and ready-to-move segment, with no new project launches or off-plan reservations recorded during the period. The alignment between transaction count (100.0% ready) and transaction value (100.0% ready) indicates no price differential between completion categories, as the market operated exclusively in completed inventory.
Which Townhouses & Villas bedroom configurations recorded the highest resale activity in DAMAC Hills 2 during 2024?
Three-bedroom townhouses and villas dominated transaction activity in DAMAC Hills 2 during 2024, accounting for 634 sales at an average price of AED 1,423,546. Four-bedroom units recorded 163 transactions at AED 2,097,811, representing a 133.0% year-on-year increase in transaction count. Average prices across bedroom configurations ranged from AED 1,300,652 for two-bedroom units to AED 3,568,538 for six-bedroom properties, reflecting the community's diverse product mix.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 2 B/R | AED 1,300,652 | +21.3% | 23 | +35% |
| 3 B/R | AED 1,423,546 | +17.5% | 634 | +8% |
| 4 B/R | AED 2,097,811 | +39.5% | 163 | +133% |
| 5 B/R | AED 2,017,762 | +17.5% | 20 | 0% |
| 6 B/R | AED 3,568,538 | +22.4% | 36 | +3% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 2 B/R Bed | 23 |
| 3 B/R Bed | 634 |
| 4 B/R Bed | 163 |
| 5 B/R Bed | 20 |
| 6 B/R Bed | 36 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 2 B/R | AED 80,569 | +19.5% | 89 | -14% |
| 3 B/R | AED 83,900 | +21.9% | 3288 | -17% |
| 4 B/R | AED 103,579 | +19.5% | 328 | -18% |
| 5 B/R | AED 122,731 | +20.1% | 111 | -26% |
| 6 B/R | AED 195,135 | +20.3% | 111 | -32% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Townhouses & Villas Market Context -- 2024
Dubai's property market recorded 168,955 sale transactions and 467,487 rental transactions in 2024, with rental activity accounting for the majority of overall market volume. Initial sales represented 65.9% of Dubai's sale transactions while resales comprised 34.1%, indicating that roughly two-thirds of sale activity involved off-plan or first-time transfers. In the rental segment, contract renewals accounted for 61.9% of Dubai's rental transactions compared to 38.1% for new rental contracts, reflecting a market where most tenants remained in existing properties rather than relocating.
Dubai Overall Market Context
Dubai Townhouses & Villas Market Totals - 2024
| Category | Percentage |
|---|---|
| Initial Sale | 65.9% |
| Resale | 34.1% |
| Category | Percentage |
|---|---|
| New | 38.1% |
| Renewal | 61.9% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Frequently Asked Questions
What was the average price per square foot for townhouses and villas resales in DAMAC Hills 2 in 2024?
How many resale transactions occurred for townhouses and villas in DAMAC Hills 2 in 2024?
What was the total resale transaction value for townhouses and villas in DAMAC Hills 2 in 2024?
What was the average resale price for a 3-bedroom townhouse or villa in DAMAC Hills 2 in 2024?
What was the average resale price for a 4-bedroom townhouse or villa in DAMAC Hills 2 in 2024?
What percentage of resale transactions in DAMAC Hills 2 were for ready properties in 2024?
How many off-plan primary market transactions occurred for townhouses and villas in DAMAC Hills 2 in 2024?
Methodology
This analysis draws on Property Monitor's transaction register, which aggregates Dubai Land Department resale registrations for townhouses and villas in DAMAC Hills 2 recorded between 1 January and 31 December 2024. Year-on-year comparisons reflect percentage changes relative to the corresponding full-year 2023 period, with average price per square foot calculated as total resale value divided by aggregate built-up area transacted. Readers should note that registration dates may lag actual sales agreement dates by several weeks, meaning transactions finalized late in the reporting period could appear in subsequent datasets, and the inclusion of both townhouses and villas in a single aggregated metric may obscure distinct pricing dynamics between these two property subtypes.
Glossary
- PSF
- Price per square foot, a standardized metric dividing a property's sale price by its total built-up area in square feet, used to compare values across different unit sizes and communities in Dubai.
- Off-plan
- A property sold by a developer before construction is complete, typically purchased through a payment plan during the development phase.
- Secondary market
- The resale market where properties are sold between individual owners rather than purchased directly from developers, also called the resale market.
- Ready property
- A completed property that has received its completion certificate and is available for immediate occupancy, as opposed to off-plan units still under construction.
- Resale
- A transaction where an existing property owner sells to a new buyer, distinct from a direct developer sale.
- Resale Off-Plan Origin
- A resale transaction involving a property that was originally purchased off-plan but is being sold by the first buyer before or after completion, rather than by the developer.
- Townhouse
- A multi-story residential unit sharing one or more walls with adjacent units, typically featuring private outdoor space and individual entrances within a planned community.
- Villa
- A detached or semi-detached single-family residential property with private land, garden space, and independent structure, common in Dubai's master-planned communities.
- AED/sqft
- The price per square foot expressed in United Arab Emirates dirhams, the standard currency unit for Dubai real estate transactions.
- Built-up area
- The total constructed floor area of a property measured in square feet, including all interior spaces and typically excluding balconies and terraces, used as the denominator in PSF calculations.
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