Dubai Hills Estate Apartments H1 2024 Resale Report
(1st January - 30th June)
AED 2,169
Average price per sq. ft
Compared to H1 2023
793 transactions
AED 1.426B total resale value
Apartments in Dubai Hills Estate H1 2024 Resale Report
Executive Summary
One-bedroom apartments dominated resale activity in Dubai Hills Estate Apartments during H1 2024 with 385 transactions at an average price of AED 1,310,018, reflecting a 65.0% year-over-year increase in transaction count. Two-bedroom units recorded 342 resale transactions in H1 2024 at an average price of AED 2,095,260, representing a 53.0% year-over-year increase in transaction volume. The off-plan primary market in Dubai Hills Estate Apartments generated 1,960 transactions valued at AED 4,446,698,203 during H1 2024, indicating that off-plan purchases significantly outnumbered resale transactions in the community during the period.
Key Facts
- In H1 2024, Dubai Hills Estate apartments recorded an average resale price per square foot of AED 2,169, representing a 20.6% year-over-year increase.
- The Dubai Hills Estate apartments resale market saw 793 transactions in H1 2024, a 56.7% increase compared to the same period in 2023.
- Total resale transaction value for Dubai Hills Estate apartments reached AED 1,426,177,891 in H1 2024, up 68.3% year-over-year.
- Ready properties accounted for 77.4% of resale transactions in Dubai Hills Estate apartments during H1 2024, while off-plan completions represented 22.6%.
- One-bedroom apartments dominated resale activity in Dubai Hills Estate during H1 2024 with 385 transactions at an average price of AED 1,310,018.
- Two-bedroom apartments in Dubai Hills Estate recorded 342 resale transactions in H1 2024 with an average price of AED 2,095,260, a 53.0% increase in transaction count year-over-year.
- Three-bedroom apartments in Dubai Hills Estate averaged AED 3,545,305 in resale transactions during H1 2024, with 55 units sold representing a 15.0% increase in transaction count year-over-year.
Key Performance Indicators
Key Performance Indicators
Resale - H1 2024
Rental - H1 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
Price Trend
Price Trend - Dubai Hills Estate Apartments
Average Price per Sq. Ft - Dubai Hills Estate Apartments
| Period | Average Price per Sq. Ft (AED) |
|---|---|
| H1 2023 | 1,797 |
| H2 2023 | 1,942 |
| H1 2024 | 2,169 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Hills Estate Apartments transactions split between off-plan and ready in H1 2024?
In H1 2024, ready apartments dominated Dubai Hills Estate transactions, accounting for 77.4% of deals and 75.3% of total value, while off-plan units represented 22.6% of transactions and 24.7% of value. The marginally higher value share for off-plan (24.7% vs 22.6% of transactions) indicates that off-plan apartments in Dubai Hills Estate commanded a slightly higher average transaction price than ready units during the period. This completion-status distribution reflects sustained buyer preference for immediate-occupancy properties in the community, with ready stock capturing more than three-quarters of both transaction volume and capital deployed in H1 2024.
Which Apartments bedroom configurations recorded the highest resale activity in Dubai Hills Estate during H1 2024?
Dubai Hills Estate apartment sales in H1 2024 were dominated by 1-bedroom units, which recorded 385 transactions at an average price of AED 1,310,018, followed closely by 2-bedroom configurations with 342 deals averaging AED 2,095,260. Both segments demonstrated strong year-on-year growth, with 1-bedroom transactions rising 65.0% and 2-bedroom units increasing 53.0% compared to H1 2023. Average prices across bedroom types in Dubai Hills Estate ranged from AED 931,818 for studios to AED 3,545,305 for 3-bedroom apartments, reflecting a clear progression as unit size increased.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 931,818 | N/A | 11 | N/A |
| 1 B/R | AED 1,310,018 | +15.6% | 385 | +65% |
| 2 B/R | AED 2,095,260 | +14% | 342 | +53% |
| 3 B/R | AED 3,545,305 | +3% | 55 | +15% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - H1 2024
| Bedroom Type | Transactions |
|---|---|
| Studio Bed | 11 |
| 1 B/R Bed | 385 |
| 2 B/R Bed | 342 |
| 3 B/R Bed | 55 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Dubai Hills Estate perform in H1 2024?
In H1 2024, Dubai Hills Estate apartments recorded 1,960 off-plan transactions valued at AED 4,446,698,203, representing year-on-year increases of 14.3% in volume and 30.3% in value. Off-plan activity dominated the community's primary market, with transaction counts exceeding resale volumes by more than 2.4 times during the same period. The 793 resale transactions totaled AED 1,426,177,891 in H1 2024, underscoring the community's substantially higher off-plan market activity by both volume and value metrics.
Rental Summary
Rental Contract Distribution - H1 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 45,875 | +13.6% | 36 | -18% |
| 1 B/R | AED 85,108 | +18.3% | 534 | -27% |
| 2 B/R | AED 135,980 | +16.5% | 481 | -21% |
| 3 B/R | AED 212,237 | +16.6% | 97 | -31% |
| 4 B/R | AED 445,000 | +6.6% | 3 | +50% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- H1 2024
Dubai's property market recorded 74,829 sale transactions and 189,761 rental transactions in H1 2024, with rentals outnumbering sales by a ratio of approximately 2.5 to 1. Among sales transactions across Dubai, initial sales accounted for 63.0% of the market while resale properties comprised 37.0%. In the rental segment, contract renewals represented 63.0% of activity and new rental contracts made up 37.0%, indicating an established tenant base across the emirate.
Dubai Overall Market Context
Dubai Apartments Market Totals - H1 2024
| Category | Percentage |
|---|---|
| Initial Sale | 63.0% |
| Resale | 37.0% |
| Category | Percentage |
|---|---|
| New | 37.0% |
| Renewal | 63.0% |
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 during H1 2024?
How many resale apartment transactions occurred in Dubai Hills Estate in H1 2024?
What was the total resale transaction value for apartments in Dubai Hills Estate during H1 2024?
What was the average price for a 2-bedroom resale apartment in Dubai Hills Estate in H1 2024?
How many 1-bedroom resale apartment transactions were there in Dubai Hills Estate during H1 2024?
What percentage of Dubai Hills Estate resale apartment transactions were for ready properties in H1 2024?
How many off-plan primary market apartment transactions occurred in Dubai Hills Estate during H1 2024?
Methodology
The resale market data for Dubai Hills Estate apartments presented in this report derives from Property Monitor's transaction register, which aggregates Dubai Land Department official registrations for the six-month period spanning January 1 through June 30, 2024. Year-on-year comparisons reference the corresponding H1 2023 period using the same aggregation methodology, with metrics including average price per square foot, transaction counts, and aggregate transaction values computed from all completed resale registrations within the defined timeframe. Readers should note that resale registrations reflect the date of official DLD recording rather than initial agreement dates, meaning transactions may incorporate a lag between negotiation and formal registration, and that the distinction between resale and off-plan categorizations depends on property handover status at the time of sale, which can affect period-to-period comparability when delivery schedules shift.
Glossary
- PSF
- Price per square foot, calculated by dividing a property's sale price by its total built-up area in square feet. A standard metric for comparing property values across different unit sizes.
- Off-plan
- Properties purchased directly from developers before construction is complete, typically sold in phases with staged payment plans tied to construction milestones.
- Secondary market
- The resale market where properties are sold between private parties rather than purchased directly from the original developer. Also called the resale market.
- Ready property
- A completed property available for immediate occupation and registration, as opposed to off-plan units still under construction.
- Resale
- A transaction where the seller is a private owner rather than the original developer, regardless of whether the property was initially purchased off-plan or as a ready unit.
- AED/sqft
- United Arab Emirates Dirham per square foot, the standard pricing unit for Dubai real estate transactions and valuations.
- Built-up area
- The total floor area of a property including internal walls and structural elements, measured in square feet. Used as the denominator when calculating price per square foot.
- Dubai Hills Estate
- A master-planned residential community in Mohammed Bin Rashid City featuring apartments, villas, townhouses, and amenities including Dubai Hills Mall and an 18-hole championship golf course.
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