District One Apartments 2024 Resale Report
(1st January - 31st December 2024)
AED 2,096
Average price per sq. ft
Compared to 2023
338 transactions
AED 767.8M total resale value
Apartments in District One 2024 Resale Report
Executive Summary
One-bedroom apartments dominated resale activity in District One Apartments during 2024 with 228 transactions at an average price of AED 1,619,323, though transaction count declined 35.0% year-over-year. Two-bedroom units recorded 78 transactions at an average price of AED 3,074,024 in 2024, down 30.0% in transaction count compared to 2023. Three-bedroom apartments saw 26 transactions at an average price of AED 4,470,420 in 2024, representing an 8.0% increase in transaction count year-over-year, while four-bedroom units recorded 6 transactions at an average price of AED 7,096,533, up 50.0% in count from 2023.
The off-plan primary market in District One Apartments generated 293 transactions with a total value of AED 793,794,121 in 2024, slightly exceeding the community's resale transaction value of AED 767,789,503 for the same period.
Key Facts
- In 2024, District One Apartments recorded an average resale price per square foot of AED 2,096, representing a 7.3% year-over-year increase.
- The resale market in District One Apartments saw 338 transactions in 2024, a decline of 31.3% compared to the previous year.
- Total resale transaction value in District One Apartments reached AED 767,789,503 in 2024, down 22.3% year-over-year.
- Ready properties accounted for 86.4% of resale transactions in District One Apartments during 2024, while off-plan completions comprised 13.6%.
- One-bedroom units dominated resale activity with 228 transactions at an average price of AED 1,619,323, though transaction count fell 35.0% year-over-year.
- Two-bedroom apartments in District One recorded 78 resale transactions in 2024 at an average price of AED 3,074,024, with transaction volume declining 30.0% year-over-year.
- Four-bedroom units experienced a 50.0% year-over-year increase in transaction count to 6 sales in 2024, with an average price of AED 7,096,533.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did District One Apartments transactions split between off-plan and ready in 2024?
In 2024, District One Apartments transactions were heavily weighted toward ready properties, which accounted for 86.4% of all deals compared to 13.6% for off-plan units. By transaction value, ready properties represented 79.7% of the market while off-plan captured 20.3%, indicating that off-plan transactions in District One Apartments during 2024 carried higher average deal sizes than ready units. The completion-status distribution underscores the dominance of completed inventory in this market segment, with the seven-percentage-point gap between transaction count share (86.4%) and value share (79.7%) for ready properties reflecting a value premium in the off-plan segment.
Which Apartments bedroom configurations recorded the highest resale activity in District One during 2024?
District One Apartments in Dubai recorded 338 transactions across bedroom configurations in 2024, with 1-bedroom units accounting for 228 sales and an average price of AED 1,619,323. Two-bedroom apartments followed with 78 transactions at AED 3,074,024, while 3-bedroom units saw 26 sales averaging AED 4,470,420. The price range spanned from AED 1,619,323 for 1-bedroom properties to AED 7,096,533 for 4-bedroom units, though transaction counts declined year-on-year for both 1-bedroom (-35.0%) and 2-bedroom (-30.0%) segments.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 1,619,323 | +5.3% | 228 | -35% |
| 2 B/R | AED 3,074,024 | +12.6% | 78 | -30% |
| 3 B/R | AED 4,470,420 | +5.4% | 26 | +8% |
| 4 B/R | AED 7,096,533 | -5.8% | 6 | +50% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 1 B/R Bed | 228 |
| 2 B/R Bed | 78 |
| 3 B/R Bed | 26 |
| 4 B/R Bed | 6 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in District One perform in 2024?
In 2024, District One Apartments recorded 293 off-plan transactions totaling AED 793,794,121 in primary market sales, representing increases of 73.4% and 73.7% year-over-year respectively. Off-plan activity in the community remained comparable to resale volume during the same period, with resale recording 338 transactions worth AED 767,789,503. The off-plan segment's transaction count reached 86.7% of resale volumes, while off-plan value exceeded resale value by 3.4% in the Dubai community during the twelve-month period.
Rental Summary
Rental Contract Distribution - 2024
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 109,660 | -2.9% | 527 | +174% |
| 2 B/R | AED 195,733 | -8.3% | 138 | +411% |
| 3 B/R | AED 300,663 | 0% | 34 | +278% |
| 5 B/R | AED 550,000 | N/A | 1 | N/A |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- 2024
Dubai's residential real estate market recorded 168,955 sale transactions and 467,487 rental transactions in 2024, with rental activity comprising the larger share of overall market volume. Among sales, initial transactions represented 65.9% of the total while resale transactions accounted for 34.1%, indicating that nearly two-thirds of Dubai's sales activity in 2024 involved first-time property registrations. The rental market showed 61.9% of contracts were renewals and 38.1% were new tenancies, reflecting a tendency for tenants to remain in existing properties. This Dubai-wide data provides the context for interpreting District One Apartments performance during the same period.
Dubai Overall Market Context
Dubai Apartments 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 apartments in District One during 2024?
How many resale apartment transactions occurred in District One in 2024?
What was the total transaction value for resale apartments in District One in 2024?
What was the average price of a one-bedroom resale apartment in District One in 2024?
What percentage of District One apartment resales were off-plan versus ready properties in 2024?
What was the average price for a three-bedroom resale apartment in District One in 2024?
How much was the off-plan primary market worth in District One apartments during 2024?
Methodology
This methodology disclosure draws on Property Monitor's aggregation of Dubai Land Department resale registrations for apartments in District One over the calendar year 2024 (January 1 through December 31, 2024), benchmarked against the equivalent period in 2023 to derive year-over-year percentage changes in average price per square foot, transaction count, and total transaction value. The report separately presents off-plan transaction counts and values for the same period to distinguish primary market activity from secondary market resales. Readers should note that registration dates may lag actual transaction dates by several weeks, meaning some deals agreed near period boundaries could appear in adjacent reporting windows, and the off-plan versus resale categorization reflects Dubai Land Department classification at the time of registration, which may not capture all nuances of staged handover or partial completion scenarios.
Glossary
- PSF
- Price per square foot. A standardized metric dividing a property's total sale price by its built-up area in square feet, used to compare unit values across different sizes and communities in Dubai.
- AED/sqft
- United Arab Emirates Dirhams per square foot. The currency-specific expression of PSF, representing the cost of one square foot of property in the local currency.
- Resale
- A transaction where an existing owner sells a property to a new buyer. The property was previously registered to an individual or entity, distinguishing it from a first-time developer sale.
- Secondary market
- The segment of Dubai's real estate market where properties are traded between private owners after the initial developer sale, encompassing both ready and off-plan units originally purchased from developers.
- Ready property
- A completed, habitable property with a valid occupancy certificate. Buyers can take immediate possession upon transfer of title, as opposed to units still under construction.
- Off-plan
- A property sold by a developer before construction is complete. Buyers purchase based on plans and pay in installments during the building phase, taking possession upon project handover.
- Resale Off-Plan Origin
- A resale transaction involving a unit that was originally purchased off-plan from a developer but is being sold by the first buyer before or after completion, prior to taking possession.
- District One
- A freehold residential community in Mohammed Bin Rashid City developed by Meydan, featuring luxury villas and apartments surrounding a Crystal Lagoon and extensive green corridors.
- Apartments
- Multi-family residential units within a shared building structure, typically part of a mid-rise or high-rise development, as distinct from standalone villas or townhouses.
- Transaction type
- A classification distinguishing whether a sale involves an off-plan property still under construction or an existing ready property with a completed building and occupancy permit.
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