Dubai Harbour Apartments 2024 Resale Report
(1st January - 31st December 2024)
AED 3,542
Average price per sq. ft
Compared to 2023
599 transactions
AED 2.749B total resale value
Apartments in Dubai Harbour 2024 Resale Report
Executive Summary
One-bedroom units led resale activity in Dubai Harbour Apartments in 2024 with 246 transactions at an average price of AED 2,671,151, followed by two-bedroom units with 214 transactions at an average price of AED 4,673,023. Three-bedroom units recorded 119 transactions at an average price of AED 7,040,504 in 2024, while four-bedroom units saw 20 transactions at an average price of AED 12,711,989. The off-plan primary market in Dubai Harbour generated 1,013 transactions valued at AED 7,043,731,091 in 2024, compared to the 599 resale transactions valued at AED 2,749,189,605 in the same period.
Key Facts
- In 2024, the average resale price per square foot for apartments in Dubai Harbour was AED 3,542, representing a 5.3% year-over-year increase.
- Dubai Harbour recorded 599 resale apartment transactions in 2024, a decline compared to the previous year.
- The total value of resale transactions in Dubai Harbour apartments during 2024 reached AED 2,749,189,605.
- Off-plan purchases accounted for 56.9% of Dubai Harbour apartment transactions in 2024, while ready properties comprised 43.1%.
- One-bedroom apartments led resale activity in Dubai Harbour during 2024 with 246 transactions at an average price of AED 2,671,151.
- Two-bedroom apartments in Dubai Harbour averaged AED 4,673,023 across 214 resale transactions in 2024.
- Three-bedroom units in Dubai Harbour saw 119 resale transactions in 2024 at an average price of AED 7,040,504.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Harbour Apartments transactions split between off-plan and ready in 2024?
In Dubai Harbour Apartments during 2024, off-plan properties accounted for 56.9% of all transactions and 56.8% of total transaction value, while ready properties represented 43.1% of transactions and 43.2% of value. The near-identical distribution across both transaction count and value metrics indicates that average deal sizes were roughly equivalent between off-plan and ready segments in this submarket. This off-plan dominance reflects the ongoing development activity in Dubai Harbour, where a significant portion of inventory remained under construction throughout the year.
Which Apartments bedroom configurations recorded the highest resale activity in Dubai Harbour during 2024?
In Dubai Harbour Apartments during 2024, one-bedroom units led transaction activity with 246 sales at an average price of AED 2,671,151, followed by two-bedroom units with 214 transactions averaging AED 4,673,023. The market displayed a wide price spectrum across bedroom configurations, with four-bedroom apartments commanding an average of AED 12,711,989 across 20 transactions—nearly five times the one-bedroom average. Three-bedroom units recorded 119 sales at an average price of AED 7,040,504, completing the segmentation profile for the year.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 2,671,151 | +4% | 246 | -32% |
| 2 B/R | AED 4,673,023 | +7% | 214 | -31% |
| 3 B/R | AED 7,040,504 | +2.5% | 119 | -24% |
| 4 B/R | AED 12,711,989 | +16.2% | 20 | -23% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| 1 B/R Bed | 246 |
| 2 B/R Bed | 214 |
| 3 B/R Bed | 119 |
| 4 B/R Bed | 20 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Dubai Harbour perform in 2024?
In 2024, off-plan apartment transactions in Dubai Harbour totaled 1,013 deals worth AED 7,043,731,091, representing a year-on-year contraction in both volume and value. Off-plan activity in the community exceeded resale market volumes during the same period, with resale transactions reaching 599 deals valued at AED 2,749,189,605. Primary market sales by developers accounted for the majority of transactional activity in Dubai Harbour apartments throughout the year.
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 1 B/R | AED 147,422 | +2.4% | 275 | +112% |
| 2 B/R | AED 239,178 | +3.4% | 258 | +141% |
| 3 B/R | AED 418,614 | +7.4% | 81 | +72% |
| 4 B/R | AED 745,000 | +396.7% | 2 | +100% |
| 6 B/R | AED 3,000,000 | N/A | 1 | N/A |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- 2024
Dubai's property market in 2024 recorded 168,955 sale transactions and 467,487 rental transactions across all communities. Initial sales accounted for 65.9% of the Dubai-wide sales market, while resales comprised 34.1% of total transaction volume. In the rental segment, contract renewals represented 61.9% of Dubai's 467,487 rental transactions, with new contracts making up 38.1%. These city-wide benchmarks provide context for interpreting Dubai Harbour Apartments' market activity 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 Dubai Harbour during 2024?
How many resale apartment transactions occurred in Dubai Harbour in 2024?
What was the total transaction value for resale apartments in Dubai Harbour in 2024?
What was the average price for a two-bedroom resale apartment in Dubai Harbour in 2024?
How were Dubai Harbour resale apartment transactions split between off-plan and ready properties in 2024?
What was the average price for a one-bedroom resale apartment in Dubai Harbour in 2024?
What was the average price for a three-bedroom resale apartment in Dubai Harbour in 2024?
Methodology
This analysis of Dubai Harbour apartment resales during calendar year 2024 draws from Property Monitor's transaction register, which aggregates Dubai Land Department registration records covering the period from 1 January 2024 through 31 December 2024. Year-over-year comparisons reference the corresponding twelve-month period in 2023, with percentage changes calculated on both transaction volume and average price per square foot metrics. Off-plan transaction counts and values are reported separately from resale (secondary market) figures to maintain methodological clarity, though buyers and analysts should note that registration timing can lag actual sale agreements by several weeks, meaning transactions recorded in late December may reflect deals agreed earlier in the fourth quarter, and this lag may affect period-end comparisons when interpreting short-term market velocity.
Glossary
- PSF
- Price per square foot, calculated by dividing a property's total sale price by its built-up area in square feet. This metric allows comparison of properties of different sizes within the same market.
- Off-plan
- A property sold by a developer before construction is complete, typically purchased through installment payment plans during the development phase.
- Secondary market
- The resale market where existing properties change hands between private parties rather than being sold directly by the original developer.
- Ready property
- A completed, habitable property available for immediate occupancy and transfer of ownership, as opposed to properties still under construction.
- Resale
- A transaction where an owner sells a property to another buyer, regardless of whether the property was originally purchased off-plan or as a completed unit.
- Resale Off-Plan Origin
- A resale transaction involving a property that was originally purchased off-plan by the seller but is now being sold to a new buyer before or after completion.
- Dubai Harbour
- A waterfront development located between Dubai Marina and Palm Jumeirah, featuring residential apartments, a cruise terminal, and marina facilities.
- Built-up area
- The total floor area of a residential unit measured in square feet, including all interior spaces but typically excluding balconies and terraces.
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