DAMAC Lagoons Townhouses 2024 Resale Report
(1st January - 31st December 2024)
AED 948
Average price per sq. ft
Compared to 2023
879 transactions
AED 2.106B total resale value
Townhouses in DAMAC Lagoons 2024 Resale Report
Executive Summary
Four-bedroom townhouses dominated resale activity in DAMAC Lagoons in 2024 with 559 transactions, a 41.0% year-over-year increase, and an average price of AED 2,168,586. Five-bedroom units recorded 245 transactions in 2024, up 44.0% year-over-year, with an average price of AED 2,985,955, while three-bedroom townhouses saw 72 transactions, a 9.0% year-over-year rise, at an average price of AED 1,918,085. The off-plan primary market in DAMAC Lagoons Townhouses generated 598 transactions in 2024 with a total value of AED 2,071,242,424, slightly below the resale market's transaction count but comparable in aggregate value.
Key Facts
- In 2024, the average resale price per square foot for townhouses in DAMAC Lagoons reached AED 948, representing a 9.8% year-over-year increase.
- DAMAC Lagoons recorded 879 resale townhouse transactions in 2024, a 38.4% increase compared to the previous year.
- The total value of resale transactions in DAMAC Lagoons during 2024 was AED 2,105,800,501, up 53.7% year-over-year.
- Ready properties accounted for 82.4% of resale transactions in DAMAC Lagoons in 2024, while off-plan units represented 17.6%.
- Four-bedroom townhouses dominated the resale market in DAMAC Lagoons with 559 transactions in 2024, reflecting a 41.0% year-over-year increase, at an average price of AED 2,168,586.
- Five-bedroom townhouses saw 245 resale transactions in DAMAC Lagoons during 2024, a 44.0% year-over-year rise, with an average transaction price of AED 2,985,955.
- Three-bedroom townhouses in DAMAC Lagoons recorded 72 resale transactions in 2024, up 9.0% year-over-year, with an average price of AED 1,918,085.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did DAMAC Lagoons Townhouses transactions split between off-plan and ready in 2024?
In 2024, ready property transactions dominated the DAMAC Lagoons Townhouses market, accounting for 82.4% of all deals and 82.7% of total transaction value, while off-plan sales represented 17.6% of transactions and 17.3% of value. The minimal difference between the transaction-count share (17.6%) and value share (17.3%) for off-plan properties indicates that average deal sizes remained nearly equivalent across both completion statuses during the year. Ready properties commanded the overwhelming majority of market activity in DAMAC Lagoons Townhouses throughout 2024, with off-plan development representing less than one-fifth of the community's transaction volume.
Which Townhouses bedroom configurations recorded the highest resale activity in DAMAC Lagoons during 2024?
Four-bedroom townhouses dominated DAMAC Lagoons activity in 2024, accounting for 559 transactions at an average price of AED 2,168,586 and registering a 41.0% year-on-year increase in transaction count. Five-bedroom units followed with 245 sales at an average of AED 2,985,955 and a 44.0% year-on-year gain, while three-bedroom configurations recorded 72 transactions at AED 1,918,085 with a 9.0% annual rise. Across these three segments, average prices ranged from AED 1,918,085 for three-bedroom homes to AED 2,985,955 for five-bedroom properties in DAMAC Lagoons during the year.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 3 B/R | AED 1,918,085 | +10.1% | 72 | +9% |
| 4 B/R | AED 2,168,586 | +8.9% | 559 | +41% |
| 5 B/R | AED 2,985,955 | +12.1% | 245 | +44% |
| 6 B/R | AED 5,500,000 | N/A | 1 | N/A |
| 7 B/R | AED 9,400,000 | +4.6% | 1 | 0% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 3 B/R Bed | 72 |
| 4 B/R Bed | 559 |
| 5 B/R Bed | 245 |
| 6 B/R Bed | 1 |
| 7 B/R Bed | 1 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Townhouses in DAMAC Lagoons perform in 2024?
DAMAC Lagoons Townhouses recorded 598 off-plan transactions in 2024, with a combined value of AED 2,071,242,424. Off-plan transaction volume decreased compared to the prior year, while off-plan transaction value also declined year-over-year. During the same period, resale activity in the community totaled 879 transactions worth AED 2,105,800,501, indicating that resale transaction count exceeded off-plan count and resale value surpassed off-plan value in 2024.
Dubai Townhouses Market Context -- 2024
During 2024, Dubai recorded 168,955 sale transactions and 467,487 rental transactions, with rental activity outpacing sales by a ratio of approximately 2.8 to 1. Within the sales market, initial sales accounted for 65.9% of all transactions (the dominant share), while resale properties represented 34.1%. In the rental sector, lease renewals comprised 61.9% of all contracts, compared to 38.1% for new rental agreements, indicating that a majority of tenants across Dubai remained in their existing properties during the year.
Dubai Overall Market Context
Dubai Townhouses 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 in DAMAC Lagoons in 2024?
How many resale townhouse transactions occurred in DAMAC Lagoons in 2024?
What was the total resale transaction value for townhouses in DAMAC Lagoons in 2024?
What was the average price for a 4-bedroom resale townhouse in DAMAC Lagoons in 2024?
What was the average price for a 5-bedroom resale townhouse in DAMAC Lagoons in 2024?
What share of DAMAC Lagoons townhouse resales in 2024 were ready properties versus off-plan?
What was the total value of off-plan primary market townhouse sales in DAMAC Lagoons in 2024?
Methodology
This resale market analysis draws on transaction data from Property Monitor, which aggregates Dubai Land Department registrations for secondary-market townhouse sales in DAMAC Lagoons recorded between January 1 and December 31, 2024. Year-on-year comparisons reference the corresponding twelve-month period in 2023, with percentage changes calculated on volume, value, and per-square-foot averages. Off-plan transactions are tracked separately and excluded from resale metrics to maintain segment clarity. One limitation inherent to this dataset is the potential lag between a sale's execution and its formal registration with the Dubai Land Department, meaning transactions agreed late in December 2024 may appear in subsequent reporting periods if registration occurred after year-end, which can marginally affect the final count and period-end price readings.
Glossary
- PSF
- Price per square foot, a standard metric in Dubai real estate calculated by dividing the total property price by its built-up area in square feet.
- Off-plan
- A property purchased directly from a developer before construction is complete, typically involving staggered payment plans tied to construction milestones.
- Secondary market
- The resale market where properties are sold between private parties rather than purchased directly from developers, encompassing both ready and incomplete off-plan units.
- Ready property
- A completed property where construction is finished and the unit is available for immediate handover and occupancy.
- Resale
- A transaction where the seller is a private owner rather than the original developer, regardless of whether the property construction is complete.
- Townhouse
- A multi-story residential unit sharing one or more walls with adjacent units, typically featuring private outdoor space and direct ground-level access.
- AED/sqft
- The price expressed in United Arab Emirates Dirhams per square foot of built-up area, the standard currency denomination for Dubai property pricing.
- Resale Off-Plan Origin
- A property originally purchased off-plan from a developer that is being resold by the buyer before construction completion and handover.
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