Dubai Hills Estate Townhouses and Villas H1 2024 Resale Report
(1st January - 30th June)
AED 2,275
Average price per sq. ft
Compared to H1 2023
210 transactions
AED 2.794B total resale value
Townhouses & Villas in Dubai Hills Estate H1 2024 Resale Report
Executive Summary
Four-bedroom units led resale activity in Dubai Hills Estate during H1 2024 with 86 transactions at an average price of AED 6,899,177, representing a 17.0% decline in transaction count year-over-year. Five-bedroom units recorded 56 transactions at an average price of AED 13,796,482, down 21.0% in count year-over-year, while three-bedroom units saw 40 transactions at an average price of AED 5,677,875, a 39.0% decline in count year-over-year. Six-bedroom units recorded 19 transactions at an average price of AED 30,951,963 in H1 2024, marking a 19.0% increase in transaction count year-over-year. During the same period, the off-plan primary market in Dubai Hills Estate recorded 75 transactions with a total value of AED 896,057,710.
Key Facts
- In H1 2024, the average price per square foot for resale townhouses and villas in Dubai Hills Estate reached AED 2,275, representing a 23.3% year-over-year increase.
- Dubai Hills Estate recorded 210 resale transactions for townhouses and villas in H1 2024, a decline of 30.0% compared to the same period in 2023.
- The total resale value of townhouses and villas in Dubai Hills Estate during H1 2024 was AED 2,793,734,529, down 8.4% year-over-year.
- All 210 resale transactions in Dubai Hills Estate during H1 2024 were for ready properties, with no off-plan resale activity recorded.
- Four-bedroom townhouses and villas led resale activity in Dubai Hills Estate during H1 2024 with 86 transactions at an average price of AED 6,899,177, down 17.0% in transaction count year-over-year.
- Five-bedroom properties in Dubai Hills Estate recorded 56 resale transactions in H1 2024 at an average price of AED 13,796,482, with transaction volume declining 21.0% year-over-year.
- Six-bedroom townhouses and villas in Dubai Hills Estate saw 19 resale transactions during H1 2024 at an average price of AED 30,951,963, representing a 19.0% 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 Townhouses & Villas
Average Price per Sq. Ft - Dubai Hills Estate Townhouses & Villas
| Period | Average Price per Sq. Ft (AED) |
|---|---|
| H1 2023 | 1,845 |
| H2 2023 | 2,057 |
| H1 2024 | 2,274 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Hills Estate Townhouses & Villas transactions split between off-plan and ready in H1 2024?
During H1 2024, Dubai Hills Estate's townhouse and villa segment recorded exclusively ready property transactions, with off-plan deals accounting for 0.0% of both transaction volume and total value. All sales activity in the period involved completed units, reflecting a market entirely driven by move-in-ready inventory. The identical distribution across transaction count and transacted value indicates no average deal-size differential between the two completion categories, as off-plan activity was absent throughout the period.
Which Townhouses & Villas bedroom configurations recorded the highest resale activity in Dubai Hills Estate during H1 2024?
In H1 2024, four-bedroom townhouses and villas dominated sales activity in Dubai Hills Estate with 86 transactions at an average price of AED 6,899,177, declining 17.0% year-on-year in transaction count. Five-bedroom properties recorded 56 transactions at an average of AED 13,796,482, while three-bedroom units saw 40 transactions at AED 5,677,875, marking the steepest year-on-year decline at 39.0%. Six-bedroom properties commanded the highest average price at AED 30,951,963 across 19 transactions, representing a 19.0% year-on-year increase in activity and a price spread from AED 5,677,875 to AED 30,951,963 across the four primary segments.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 3 B/R | AED 5,677,875 | +30.6% | 40 | -39% |
| 4 B/R | AED 6,899,177 | +15% | 86 | -17% |
| 5 B/R | AED 13,796,482 | +66.7% | 56 | -21% |
| 6 B/R | AED 30,951,963 | +33% | 19 | +19% |
| 10 B/R | AED 30,000,000 | N/A | 1 | N/A |
| 8 B/R | AED 30,000,000 | N/A | 1 | N/A |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - H1 2024
| Bedroom Type | Transactions |
|---|---|
| 3 B/R Bed | 40 |
| 4 B/R Bed | 86 |
| 5 B/R Bed | 56 |
| 6 B/R Bed | 19 |
| 10 B/R Bed | 1 |
| 8 B/R Bed | 1 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Townhouses & Villas in Dubai Hills Estate perform in H1 2024?
Off-plan primary market activity in Dubai Hills Estate Townhouses & Villas during H1 2024 recorded 75 transactions worth AED 896,057,710, representing a 177.8% year-on-year increase in volume and a 34.7% year-on-year increase in value. The off-plan segment accounted for approximately one-quarter of total transaction count in the community during the period, with resale activity recording 210 transactions valued at AED 2,793,734,529. Developer sales thus contributed roughly 24% of unit-level activity and around 24% of aggregate transaction value across both primary and secondary channels in Dubai Hills Estate townhouses and villas for the first half of 2024.
Rental Summary
Rental Contract Distribution - H1 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| 3 B/R | AED 260,333 | +15.8% | 207 | -41% |
| 4 B/R | AED 316,138 | +24.3% | 214 | -43% |
| 5 B/R | AED 514,417 | +68.5% | 77 | -38% |
| 6 B/R | AED 2,150,000 | +82.8% | 9 | +80% |
| 7 B/R | AED 1,797,538 | N/A | 1 | N/A |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Townhouses & Villas Market Context -- H1 2024
During H1 2024, Dubai recorded 74,829 sale transactions and 189,761 rental transactions across all property types and communities. Initial sales represented 63.0% of the sale market while resales accounted for 37.0%, indicating a market weighted toward off-plan and newly completed units. In the rental segment, contract renewals constituted 63.0% of the 189,761 transactions, with new rental contracts making up the remaining 37.0%. This market-wide activity provides the context for understanding Dubai Hills Estate Townhouses & Villas performance during the period.
Dubai Overall Market Context
Dubai Townhouses & Villas 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 townhouses and villas in Dubai Hills Estate during H1 2024?
How many resale transactions occurred for townhouses and villas in Dubai Hills Estate in H1 2024?
What was the total transaction value for resale townhouses and villas in Dubai Hills Estate during H1 2024?
What was the average sale price for 4-bedroom resale villas in Dubai Hills Estate in H1 2024?
What was the average price for 5-bedroom resale properties in Dubai Hills Estate during H1 2024?
What percentage of Dubai Hills Estate resale transactions were ready properties versus off-plan in H1 2024?
How many primary market off-plan transactions occurred for townhouses and villas in Dubai Hills Estate in H1 2024?
Methodology
This analysis of Dubai Hills Estate townhouse and villa resale activity during the first half of 2024 draws exclusively from Property Monitor's transaction register, which aggregates Dubai Land Department registration records for the period January 1 through June 30, 2024. Year-on-year comparisons reference the corresponding six-month window in 2023, with percentage changes calculated on both price per square foot metrics and transaction volumes. One methodological limitation readers should note is that Dubai Land Department registrations reflect the legal completion date rather than the initial agreement date, meaning market signals may lag actual buyer-seller negotiations by several weeks or months, particularly for properties requiring mortgage approval or developer handover processes, which can affect the temporal alignment of price movements with underlying market conditions.
Glossary
- PSF
- Price per square foot, a standardized metric dividing a property's sale price by its total built-up area in square feet, used to compare values across different sizes and locations in Dubai.
- Off-plan
- Properties sold by developers before construction is complete, typically purchased through staged payment plans tied to construction milestones.
- Secondary market
- The resale market where properties are sold between private parties rather than purchased directly from developers, encompassing both ready and off-plan properties.
- 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 a property is sold by an owner other than the original developer, regardless of whether the property is completed or still under construction.
- Resale Off-Plan Origin
- A subcategory of secondary market transactions where a buyer purchases an off-plan unit from an investor or original purchaser before the project's completion.
- Villa
- A standalone residential structure typically featuring private outdoor space, multiple floors, and independent access, common in master-planned communities across Dubai.
- Townhouse
- A multi-story residential unit sharing one or two walls with adjacent properties, offering a balance between villa privacy and apartment density in Dubai developments.
- AED/sqft
- The price per square foot expressed in United Arab Emirates dirhams, the official currency used for Dubai real estate transactions.
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