Dubai Hills Estate Apartments 2024 Resale Report
(1st January - 31st December 2024)
AED 2,177
Average price per sq. ft
Compared to 2023
1420 transactions
AED 2.737B total resale value
Apartments in Dubai Hills Estate 2024 Resale Report
Executive Summary
The 1-bedroom segment led resale activity in Dubai Hills Estate Apartments in 2024 with 663 transactions, an 18.0% increase year-over-year, at an average price of AED 1,373,804. The 2-bedroom segment recorded 596 transactions in 2024, a decline of 1.0% year-over-year, at an average price of AED 2,175,760. The 3-bedroom segment saw 139 transactions in 2024, up 46.0% year-over-year, at an average price of AED 3,658,656, while the studio segment registered 22 transactions, a 100.0% increase year-over-year, at an average price of AED 949,568. The off-plan primary market in Dubai Hills Estate Apartments recorded 5,133 transactions in 2024 with a total value of AED 12,382,778,014.
Key Facts
- In 2024, the average resale price per square foot for apartments in Dubai Hills Estate was AED 2,177, representing a year-over-year increase of 15.5%.
- Dubai Hills Estate recorded 1,420 resale apartment transactions in 2024, an 11.5% increase compared to the previous year.
- The total value of resale apartment transactions in Dubai Hills Estate reached AED 2,737,029,123 in 2024, up 30.6% year-over-year.
- Ready properties accounted for 71.9% of resale transactions in Dubai Hills Estate during 2024, while off-plan completions represented 28.1%.
- One-bedroom apartments dominated resale activity in Dubai Hills Estate with 663 transactions in 2024, averaging AED 1,373,804 per unit.
- Two-bedroom apartments in Dubai Hills Estate saw 596 resale transactions in 2024 at an average price of AED 2,175,760, with transaction count declining 1.0% year-over-year.
- Three-bedroom apartment resales in Dubai Hills Estate totaled 139 transactions in 2024, surging 46.0% year-over-year with an average price of AED 3,658,656.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Hills Estate Apartments transactions split between off-plan and ready in 2024?
In 2024, ready apartments dominated transaction activity in Dubai Hills Estate, accounting for 71.9% of all deals compared to 28.1% for off-plan units. By value, ready properties represented 69.5% of total transaction volume (AED), while off-plan captured 30.5%. The modest gap between transaction-count share and value share indicates that off-plan deals averaged slightly higher prices per transaction than ready units during the year. This completion-status distribution reflects buyer preference for immediate occupancy in this master-planned community.
Which Apartments bedroom configurations recorded the highest resale activity in Dubai Hills Estate during 2024?
One-bedroom apartments dominated the Dubai Hills Estate market in 2024, accounting for 663 transactions at an average price of AED 1,373,804, followed by two-bedroom units with 596 sales at AED 2,175,760. The bedroom segments exhibited a broad price spectrum, ranging from AED 949,568 for studio units to AED 3,658,656 for three-bedroom apartments in Dubai Hills Estate during the year. Transaction activity varied across configurations, with one-bedroom units rising 18.0% year-over-year and three-bedroom sales surging 46.0%, while two-bedroom volumes declined 1.0% in Dubai Hills Estate in 2024.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 949,568 | +7.8% | 22 | +100% |
| 1 B/R | AED 1,373,804 | +19.8% | 663 | +18% |
| 2 B/R | AED 2,175,760 | +19.5% | 596 | -1% |
| 3 B/R | AED 3,658,656 | +3.6% | 139 | +46% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| Studio Bed | 22 |
| 1 B/R Bed | 663 |
| 2 B/R Bed | 596 |
| 3 B/R Bed | 139 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Dubai Hills Estate perform in 2024?
In 2024, off-plan apartment transactions in Dubai Hills Estate totaled 5,133 units with a combined value of AED 12,382,778,014, representing year-on-year increases of 59.6% in transaction count and 80.4% in total value. Primary market activity significantly outpaced secondary market sales, with off-plan transactions exceeding resale volumes by a factor of 3.6 times in unit count and 4.5 times in total transaction value. The resale market recorded 1,420 transactions worth AED 2,737,029,123 during the same period.
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 52,696 | +17.6% | 49 | -51% |
| 1 B/R | AED 86,694 | +15.1% | 1538 | -8% |
| 2 B/R | AED 139,516 | +13% | 1327 | -7% |
| 3 B/R | AED 227,478 | +16.9% | 247 | -24% |
| 4 B/R | AED 445,000 | +6.6% | 3 | +50% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- 2024
Dubai's real estate market in 2024 recorded 168,955 sale transactions and 467,487 rental transactions, with rental activity representing the larger segment of transactional volume. Among sales across Dubai in 2024, initial sales accounted for 65.9% of transactions while resales comprised 34.1%, indicating a market weighted toward new inventory. On the rental side, renewals dominated at 61.9% of Dubai's 467,487 rental contracts, with new tenancies making up 38.1%, reflecting a mature leasing market with established tenant retention.
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 Hills Estate in 2024?
How many resale apartment transactions occurred in Dubai Hills Estate in 2024?
What was the total value of resale apartment transactions in Dubai Hills Estate in 2024?
What was the average resale price for a one-bedroom apartment in Dubai Hills Estate in 2024?
What was the average resale price for a two-bedroom apartment in Dubai Hills Estate in 2024?
What percentage of Dubai Hills Estate apartment resales in 2024 were ready properties versus off-plan?
What was the average resale price for a three-bedroom apartment in Dubai Hills Estate in 2024?
Methodology
This analysis draws on Property Monitor's transaction register, which aggregates resale registrations filed with Dubai Land Department for apartment units in Dubai Hills Estate between January 1 and December 31, 2024. Year-on-year comparisons for average price per square foot and transaction count reference the equivalent calendar period in 2023. The report distinguishes between resale transactions (secondary market transfers of completed units) and off-plan transactions (purchases of units under construction or not yet delivered); readers should note that this distinction depends on unit delivery status at the time of registration, meaning a property initially sold off-plan and later resold may appear in resale figures once delivered, which can affect period-to-period comparability when major project phases reach completion.
Glossary
- PSF
- Price per square foot, the standard unit for measuring property values in Dubai, calculated by dividing the total sale price by the property's area in square feet.
- Off-plan
- Properties sold by developers before construction is complete, where buyers purchase based on plans and pay in installments during the building phase.
- Secondary market
- The resale market where existing properties change hands between private parties, distinct from primary sales made directly by developers.
- Ready property
- Completed and habitable units available for immediate occupancy, as opposed to properties still under construction.
- Resale
- A transaction where an owner sells a property to another buyer, regardless of whether the unit was originally purchased off-plan or as a completed property.
- AED/sqft
- The price expressed in United Arab Emirates Dirhams per square foot, the currency-specific format of PSF used throughout Dubai's property market.
- Off-Plan Developer Sale
- A classification indicating the first sale of an uncompleted property directly from the developer to the initial buyer.
- Resale Off-Plan Origin
- A classification for properties originally purchased off-plan that are being resold before construction completion, often during the development phase.
- Transaction type
- The categorization of property sales as either Off-Plan for uncompleted units or Existing for ready properties, used to segment market activity.
- Dubai Hills Estate
- A master-planned residential community in Dubai featuring apartments, villas, and townhouses with parks, retail areas, and the Dubai Hills Mall.
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