Dubai Marina Apartments 2024 Resale Report
(1st January - 31st December 2024)
AED 1,773
Average price per sq. ft
Compared to 2023
3096 transactions
AED 6.986B total resale value
Apartments in Dubai Marina 2024 Resale Report
Executive Summary
One-bedroom apartments dominated resale transaction volume in Dubai Marina in 2024 with 1,273 sales, though this represented a 1.0% decline year-over-year, at an average price of AED 1,517,107. Two-bedroom units followed with 1,057 transactions in 2024, a 4.0% increase year-over-year, selling at an average price of AED 2,316,903. Studio apartments recorded 217 transactions in Dubai Marina in 2024, marking a 23.0% surge year-over-year, with an average price of AED 1,046,387. Off-plan primary market transactions in Dubai Marina totaled 1,535 in 2024, with a combined value of AED 5,531,173,943, compared to the resale market's 3,096 transactions valued at AED 6,986,418,047.
Key Facts
- In 2024, the average resale price per square foot for apartments in Dubai Marina reached AED 1,773, representing a 9.4% year-over-year increase.
- Dubai Marina recorded 3,096 apartment resale transactions in 2024, a 1.8% increase compared to the previous year.
- The total value of apartment resales in Dubai Marina for 2024 was AED 6,986,418,047, up 9.3% year-over-year.
- Ready properties accounted for 95.5% of resale transactions in Dubai Marina during 2024, while off-plan completions represented 4.5%.
- One-bedroom apartments dominated the resale market in Dubai Marina with 1,273 transactions in 2024, averaging AED 1,517,107 per unit.
- Studio apartment resale transactions in Dubai Marina grew 23.0% year-over-year in 2024, totaling 217 sales with an average price of AED 1,046,387.
- Two-bedroom apartments in Dubai Marina saw 1,057 resale transactions in 2024 at an average price of AED 2,316,903, reflecting a 4.0% increase in transaction volume year-over-year.
Key Performance Indicators
Key Performance Indicators
Resale - 2024
Rental - 2024
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did Dubai Marina Apartments transactions split between off-plan and ready in 2024?
In 2024, ready properties dominated transaction activity in Dubai Marina apartments, accounting for 95.5% of all deals and 95.0% of total transaction value, while off-plan units represented just 4.5% of transactions and 5.0% of value. The slight divergence between transaction share and value share indicates that off-plan deals carried marginally higher average prices than ready units during the period. This distribution reflects a market heavily weighted toward completed inventory, with off-plan launches playing a minimal role in Dubai Marina's apartment sales landscape for the year.
Which Apartments bedroom configurations recorded the highest resale activity in Dubai Marina during 2024?
One-bedroom apartments dominated the Dubai Marina apartment market in 2024, recording 1,273 transactions at an average price of AED 1,517,107. Activity was distributed across bedroom configurations ranging from studio units at AED 1,046,387 to five-bedroom properties at AED 12,540,819, representing a tenfold price spread between the entry and premium segments. Two-bedroom apartments followed with 1,057 transactions at an average price of AED 2,316,903, while studio units posted the strongest year-over-year transaction growth at 23.0%.
Performance by Bedroom Type
Price Insights by Bedroom
| Bedrooms | Avg Price | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 1,046,387 | +19.4% | 217 | +23% |
| 1 B/R | AED 1,517,107 | +14.5% | 1273 | -1% |
| 2 B/R | AED 2,316,903 | +6.2% | 1057 | +4% |
| 3 B/R | AED 3,771,133 | +11.5% | 444 | -2% |
| 4 B/R | AED 5,998,121 | -8% | 92 | +2% |
| 5 B/R | AED 12,540,819 | +6.4% | 11 | -27% |
Transaction Distribution by Bedroom
Transaction Volume by Bedroom Type - 2024
| Bedroom Type | Transactions |
|---|---|
| Studio Bed | 217 |
| 1 B/R Bed | 1273 |
| 2 B/R Bed | 1057 |
| 3 B/R Bed | 444 |
| 4 B/R Bed | 92 |
| 5 B/R Bed | 11 |
Source: Property Monitor, Metropolitan Premium Properties Analysis
How did off-plan primary-market sales of Apartments in Dubai Marina perform in 2024?
Off-plan apartment transactions in Dubai Marina totaled 1,535 sales in 2024, marking a 195.2% year-over-year increase, with a combined value of AED 5,531,173,943, up 342.1% year-over-year. The primary market segment represented approximately one-third of total transaction volume in the community during the period, while resale activity accounted for 3,096 transactions valued at AED 6,986,418,047. Developer-sold units thus constituted a smaller but rapidly expanding share of Dubai Marina's apartment market in 2024.
Rental Summary
Rental Contract Distribution - 2024
Contract Types
Rental Insights by Bedroom
| Bedrooms | Avg Rent | Price YoY | Transactions | Trans. YoY |
|---|---|---|---|---|
| Studio | AED 68,729 | +18.9% | 876 | -8% |
| 1 B/R | AED 93,823 | +12.3% | 5705 | -15% |
| 2 B/R | AED 140,124 | +12.6% | 4389 | -17% |
| 3 B/R | AED 209,037 | +13.9% | 1332 | -21% |
| 4 B/R | AED 309,017 | +9.3% | 214 | -15% |
| 5 B/R | AED 431,343 | +32.3% | 23 | +15% |
| 6 B/R | AED 150,000 | -83.3% | 1 | 0% |
Source: Property Monitor, Metropolitan Premium Properties Analysis
Dubai Apartments Market Context -- 2024
Dubai recorded 168,955 sale transactions and 467,487 rental transactions in 2024, establishing rental activity as the dominant segment of the emirate's property market. Initial sales represented 65.9% of all Dubai sale transactions, while resales accounted for 34.1%, reflecting continued buyer preference for off-plan and newly completed properties. Within the rental market, contract renewals comprised 61.9% of Dubai's 467,487 rental transactions, compared to 38.1% for new tenancies, indicating tenant retention across the emirate.
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 Marina in 2024?
How many resale apartment transactions occurred in Dubai Marina in 2024?
What was the total value of resale apartment transactions in Dubai Marina in 2024?
What percentage of Dubai Marina apartment resales in 2024 were ready properties versus off-plan?
What was the average resale price for a 1-bedroom apartment in Dubai Marina in 2024?
What was the average resale price for a 2-bedroom apartment in Dubai Marina in 2024?
How many studio apartment resales occurred in Dubai Marina in 2024 and at what average price?
What was the average resale price for a 3-bedroom apartment in Dubai Marina in 2024?
Methodology
The resale market data for Dubai Marina apartments in 2024 was sourced from Property Monitor's transaction register, which aggregates official registrations from the Dubai Land Department covering the period from January 1, 2024 through December 31, 2024. Year-on-year comparisons reference the same calendar period in 2023, with percentage changes calculated from the corresponding full-year baseline. One limitation inherent to this methodology is that Dubai Land Department registrations capture the date a sale is formally recorded rather than the contract signing date, introducing a temporal lag that can affect the alignment of price movements with actual market conditions, particularly during periods of rapid change or at fiscal year boundaries when registration activity may cluster.
Glossary
- PSF
- Price per square foot. A standardized metric dividing a property's total sale price by its area in square feet, used to compare values across different unit sizes.
- Off-plan
- Properties sold by developers before construction completion, typically purchased through payment plans during the building phase.
- Secondary market
- The resale market where existing properties change hands between private parties or investors, as distinct from primary developer sales.
- Ready property
- A completed, habitable unit available for immediate occupancy or rental, as opposed to properties still under construction.
- Resale
- A transaction where an owner sells a property to another buyer, whether the unit originated as off-plan or was previously completed.
- Off-Plan Developer Sale
- A sale classification indicating a direct purchase from the developer for a unit not yet completed or delivered.
- Resale Off-Plan Origin
- A resale transaction involving a unit originally purchased off-plan but sold by the buyer before or shortly after completion.
- Transaction type
- Classification distinguishing whether a sale involves an off-plan unit or an existing completed property at the time of transaction.
- Dubai Marina
- A waterfront residential community in Dubai featuring high-rise apartment towers along an artificial canal, established as a mixed-use district.
- AED/sqft
- Price per square foot denominated in United Arab Emirates dirhams, the standard currency and measurement unit for Dubai property transactions.
Get a free consultation from our team
Our specialists will consult you on any issues and help you conclude a swift transaction with the lowest risk in order to protect your investment.
Popular Searches in the UAE
Our newsletter
Sign up for our weekly newsletter for market updates!