Dubai Creek Harbour Apartments 2024 Resale Report
(1st January - 31st December 2024)
AED 2,189
Average price per sq. ft
Compared to 2023
1532 transactions
AED 3.846B total resale value
Apartments in Dubai Creek Harbour 2024 Resale Report
Executive Summary
Two-bedroom apartments led resale activity in Dubai Creek Harbour during 2024 with 654 transactions at an average price of AED 2,592,519. One-bedroom units accounted for 559 resale transactions in 2024 at an average price of AED 1,600,592, while three-bedroom apartments recorded 305 transactions at an average price of AED 3,822,149. Four-bedroom units represented 14 resale transactions in Dubai Creek Harbour in 2024, with an average price of AED 6,463,492.
Ready properties comprised 70.3% of Dubai Creek Harbour resale transactions in 2024, while off-plan units accounted for 29.7% of resale activity. The off-plan primary market in Dubai Creek Harbour recorded 2,528 transactions in 2024 with a total value of AED 7,034,740,737, indicating off-plan primary sales outpaced resale volumes in the community during the year.
Key Facts
- In 2024, the average resale price per square foot for apartments in Dubai Creek Harbour reached AED 2,189, representing a year-over-year increase of 13.9%.
- Dubai Creek Harbour recorded 1,532 resale apartment transactions in 2024, a decline of 29.3% compared to the previous year.
- The total value of resale transactions in Dubai Creek Harbour for 2024 was AED 3,846,482,614, down 18.5% year-over-year.
- Ready properties accounted for 70.3% of resale transactions in Dubai Creek Harbour during 2024, while off-plan completions represented 29.7%.
- Two-bedroom apartments led resale activity in Dubai Creek Harbour in 2024 with 654 transactions at an average price of AED 2,592,519.
- One-bedroom apartments in Dubai Creek Harbour saw 559 resale transactions in 2024, with an average price of AED 1,600,592.
- Three-bedroom apartments recorded 305 resale transactions in Dubai Creek Harbour during 2024, with an average price of AED 3,822,149.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Creek Harbour Apartments transactions split between off-plan and ready in 2024?
In Dubai Creek Harbour apartments during 2024, ready properties accounted for 70.3% of transactions and 72.6% of total transaction value, while off-plan units represented 29.7% of deals and 27.4% of value. The gap between transaction share and value share indicates that ready properties commanded slightly higher average deal sizes than off-plan units in this submarket. This distribution reflects buyer preference for completed inventory in Dubai Creek Harbour, with ready apartments capturing more than twice the transaction volume of off-plan alternatives during the year.
Which Apartments bedroom configurations recorded the highest resale activity in Dubai Creek Harbour during 2024?
Two-bedroom apartments led transaction activity in Dubai Creek Harbour during 2024, recording 654 sales at an average price of AED 2,592,519, followed by one-bedroom units with 559 transactions at AED 1,600,592. Three-bedroom apartments captured 305 sales at an average of AED 3,822,149, while four-bedroom units represented a smaller segment with 14 transactions averaging AED 6,463,492. The price spread between one-bedroom and four-bedroom configurations spanned from AED 1,600,592 to AED 6,463,492, and all bedroom categories recorded year-on-year declines in transaction counts ranging from -11.0% for three-bedroom units to -55.0% for four-bedroom apartments.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 1,600,592 | +14% | 559 | -36% |
| 2 B/R | AED 2,592,519 | +13.7% | 654 | -29% |
| 3 B/R | AED 3,822,149 | +8.2% | 305 | -11% |
| 4 B/R | AED 6,463,492 | +7.7% | 14 | -55% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 1 B/R Bed | 559 |
| 2 B/R Bed | 654 |
| 3 B/R Bed | 305 |
| 4 B/R Bed | 14 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Dubai Creek Harbour perform in 2024?
Dubai Creek Harbour Apartments recorded 2,528 off-plan transactions in 2024, representing a 7.4% year-on-year increase, with a combined transaction value of AED 7,034,740,737, up 14.3% year-on-year. Off-plan primary market activity substantially exceeded resale volumes in the community during the same period, with off-plan transactions outnumbering resale deals (1,532 transactions) and off-plan transaction value surpassing resale value (AED 3,846,482,614). The data reflects continued developer-led sales momentum in this master-planned waterfront community during 2024.
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 93,357 | +13.5% | 1552 | +18% |
| 2 B/R | AED 142,562 | +16% | 1606 | +8% |
| 3 B/R | AED 210,164 | +14.2% | 558 | 0% |
| 4 B/R | AED 411,706 | +31.4% | 22 | -31% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- 2024
## Dubai Market Overview
During 2024, Dubai recorded 168,955 sale transactions and 467,487 rental transactions across all property types and communities. Initial sales accounted for 65.9% of the sales market, while resale transactions comprised 34.1%. In the rental segment, contract renewals represented 61.9% of activity, with new rental contracts making up 38.1% of the 467,487 total rental transactions recorded emirate-wide.
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 Dubai Creek Harbour in 2024?
How many resale apartment transactions occurred in Dubai Creek Harbour in 2024?
What was the total resale transaction value for apartments in Dubai Creek Harbour in 2024?
What was the average price of a two-bedroom resale apartment in Dubai Creek Harbour in 2024?
What percentage of Dubai Creek Harbour apartment resales were off-plan versus ready properties in 2024?
What was the average resale price for one-bedroom apartments in Dubai Creek Harbour in 2024?
How did the off-plan primary market perform in Dubai Creek Harbour in 2024?
Methodology
This report analyzes Dubai Creek Harbour apartment resale activity during the 2024 calendar year using transaction data from Property Monitor, which aggregates Dubai Land Department registration records. Year-on-year comparisons reference the corresponding 2023 calendar period, with percentage changes calculated on unrounded base figures for price per square foot, transaction volume, and total consideration. Average price per square foot derives from dividing aggregate transaction values by aggregate built-up areas for all recorded resale registrations in the community during the period. One methodological consideration is that registration dates may lag actual sale agreements by several weeks, meaning transactions recorded in late 2024 could reflect pricing negotiations concluded in earlier months, potentially affecting the temporal precision of trend analysis when market conditions shift rapidly.
Glossary
- PSF
- Price per square foot. A standardized metric expressing property value by dividing total sale price by the property's area in square feet, enabling comparison across units of different sizes.
- 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 private parties rather than purchased directly from the original developer.
- Ready property
- A completed, habitable property available for immediate occupancy and transfer of ownership, as opposed to an off-plan unit still under construction.
- AED/sqft
- Price denominated in United Arab Emirates Dirhams per square foot of property area, the standard unit for expressing Dubai real estate values.
- Resale
- A transaction between two private parties where the seller is not the original developer, regardless of whether the property was initially purchased off-plan or ready.
- Resale Off-Plan Origin
- A secondary-market transaction where the seller originally purchased the unit off-plan from a developer and is now transferring it to a new buyer before or after completion.
- Dubai Creek Harbour
- A master-planned waterfront development along Dubai Creek featuring residential towers, retail districts, and the Dubai Creek Tower, located adjacent to Ras Al Khor Wildlife Sanctuary.
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