DAMAC Hills Townhouses and Villas 2024 Resale Report
(1st January - 31st December 2024)
AED 1,550
Average price per sq. ft
Compared to 2023
428 transactions
AED 1.898B total resale value
Townhouses & Villas in DAMAC Hills 2024 Resale Report
Executive Summary
Three-bedroom units accounted for 222 transactions in DAMAC Hills in 2024, representing the highest transaction volume by bedroom count, at an average price of AED 3,239,897. Four-bedroom properties recorded 108 transactions in DAMAC Hills in 2024 at an average price of AED 3,976,708, marking a 54.0% increase in transaction count year-over-year. Five-bedroom units saw 72 transactions in DAMAC Hills in 2024 at an average price of AED 7,183,845, with transaction count rising 7.0% year-over-year. The off-plan primary market in DAMAC Hills registered 81 transactions in 2024 with a total value of AED 969,563,625, separate from the 428-unit resale market.
Key Facts
- In 2024, DAMAC Hills townhouses and villas recorded an average resale price per square foot of AED 1,550, reflecting a year-over-year increase of 17.9%.
- The community registered 428 resale transactions during 2024, representing a decline of 4.3% compared to the previous year.
- Total resale value for DAMAC Hills townhouses and villas reached AED 1,897,575,036 in 2024, an increase of 16.6% year-over-year.
- All 428 resale transactions in 2024 involved ready properties, with zero off-plan resale activity recorded in the community.
- Three-bedroom units dominated resale activity with 222 transactions at an average price of AED 3,239,897, representing a 19.0% increase in transaction count year-over-year.
- Four-bedroom properties saw 108 transactions in 2024 at an average price of AED 3,976,708, with transaction volume growing 54.0% compared to the prior year.
- Five-bedroom units recorded 72 transactions during 2024 at an average price of AED 7,183,845, with transaction count increasing 7.0% year-over-year.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did DAMAC Hills Townhouses & Villas transactions split between off-plan and ready in 2024?
In 2024, DAMAC Hills Townhouses & Villas recorded exclusively ready property transactions, with off-plan sales accounting for 0.0% of both transaction count and total value. All deals in the period involved completed units, reflecting a market entirely focused on move-in-ready townhouses and villas. The identical 100.0% share across transaction count and AED value indicates no variance in average deal size between the two completion categories.
Which Townhouses & Villas bedroom configurations recorded the highest resale activity in DAMAC Hills during 2024?
Three-bedroom units dominated transaction activity in DAMAC Hills townhouses and villas during 2024, recording 222 sales at an average price of AED 3,239,897 and marking a 19.0% year-on-year increase in transaction count. Four-bedroom properties followed with 108 transactions at an average of AED 3,976,708, posting a 54.0% year-on-year rise in deal volume. Five-bedroom units comprised 72 transactions at an average price of AED 7,183,845, representing a 7.0% year-on-year increase, while two-bedroom, six-bedroom, and seven-bedroom segments recorded insufficient transaction volumes for reliable statistical reporting.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 2 B/R | AED 2,942,500 | -41% | 2 | +100% |
| 3 B/R | AED 3,239,897 | +12.6% | 222 | +19% |
| 4 B/R | AED 3,976,708 | +21.3% | 108 | +54% |
| 5 B/R | AED 7,183,845 | +10.5% | 72 | +7% |
| 6 B/R | AED 8,757,475 | -30.4% | 4 | -56% |
| 7 B/R | AED 18,177,790 | N/A | 2 | N/A |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 2 B/R Bed | 2 |
| 3 B/R Bed | 222 |
| 4 B/R Bed | 108 |
| 5 B/R Bed | 72 |
| 6 B/R Bed | 4 |
| 7 B/R Bed | 2 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Townhouses & Villas in DAMAC Hills perform in 2024?
In 2024, DAMAC Hills Townhouses & Villas recorded 81 off-plan transactions valued at AED 969,563,625 in the primary market. Both transaction count and total value declined compared to the prior year. Off-plan activity represented a smaller segment of the community's total sales volume, with resale transactions numbering 428 and generating AED 1,897,575,036 over the same period.
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 2 B/R | AED 193,150 | +3.6% | 15 | -40% |
| 3 B/R | AED 197,512 | +18.2% | 502 | -25% |
| 4 B/R | AED 259,656 | +17.4% | 163 | +66% |
| 5 B/R | AED 373,395 | +8.6% | 134 | -11% |
| 6 B/R | AED 411,128 | -12% | 11 | -21% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Townhouses & Villas Market Context -- 2024
The Dubai real estate market in 2024 recorded 168,955 sale transactions and 467,487 rental transactions across all communities. Initial sales accounted for 65.9% of total sale transactions, while resale properties represented 34.1% of the market. In the rental segment, contract renewals comprised 61.9% of the 467,487 rental transactions, with new rental contracts making up the remaining 38.1%.
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 resale townhouses and villas in DAMAC Hills during 2024?
How many resale transactions occurred for townhouses and villas in DAMAC Hills in 2024?
What was the total transaction value for resale townhouses and villas in DAMAC Hills in 2024?
What was the average resale price for 3-bedroom townhouses and villas in DAMAC Hills in 2024?
What was the average resale price for 4-bedroom townhouses and villas in DAMAC Hills in 2024?
What was the average resale price for 5-bedroom townhouses and villas in DAMAC Hills in 2024?
What percentage of DAMAC Hills townhouse and villa transactions were ready properties versus off-plan in 2024?
Methodology
The resale market data presented for DAMAC Hills townhouses and villas during the 2024 calendar year (January 1 through December 31, 2024) is derived from Property Monitor's transaction register, which aggregates Dubai Land Department resale registrations. Year-on-year comparisons are computed against the equivalent twelve-month period in 2023, with percentage changes reflecting the difference in average price per square foot and transaction volume between these two periods. Readers should note that Dubai Land Department registration dates may lag actual transaction agreement dates by several weeks, meaning that properties agreed for sale in late December 2024 could be recorded in early 2025, potentially affecting the accuracy of period-end counts and averages reported here.
Glossary
- PSF
- Price per square foot, the standard unit for measuring property prices in Dubai, calculated by dividing the sale price by the property's total built-up area in square feet.
- Off-plan
- Properties sold by developers before construction is complete, typically purchased through payment plans during the building phase.
- Secondary market
- The resale market where existing properties are traded between individual owners, as distinct from primary sales directly from developers.
- Ready property
- A completed and habitable property available for immediate occupancy, as opposed to off-plan units still under construction.
- Resale
- A property transaction where the seller is an individual owner rather than the original developer, regardless of whether the property is complete or under construction.
- AED/sqft
- The price per square foot expressed in UAE dirhams, the local currency used for all Dubai property transactions.
- Sale classification
- A three-category system distinguishing Off-Plan Developer Sale, Resale Off-Plan Origin, and Resale transactions based on seller type and property completion status.
- Transaction type
- A classification identifying whether a property sale involves an Off-Plan unit under construction or an Existing completed property.
- Townhouse
- A multi-story residential unit sharing one or more walls with adjacent properties, typically featuring private outdoor space and individual street access.
- Villa
- A detached single-family residential property with no shared walls, usually including private outdoor areas such as gardens or pools.
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