UAE Real Estate Review
Q3 2014
CityscapeSpecial
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In this report, we fill you in on the communities that are trending and average apartment/villa sale and rental prices.
And for the investors out there, we give you the lowdown on rental yields you are likely to enjoy.
Downtown Dubai Downtown Dubai
propertiesviewed
669licensed real estate
brokerages & developers
313,000properties
listed
152million
323,569inquiries
generated
TOP 20 MOST SEARCHED APARTMENT COMMUNITIES
LESS THAN 2% EACHDIFC, Old Town, Dubai Investment Park, MotorCity, IMPZ, Discovery Gardens & Tecom
Dubai Marina
Downtown Dubai
Jumeirah Lake Towers
Dubai Sports City
Palm Jumeirah
Dubailand
Business Bay
Jumeirah Village Circle
Jumeirah Beach Residence
Dubai Silicon Oasis
International City
Greens
The Views
10.41%
8.18%
6.74%
6.05%
5.05%
4.85%
4.67%
4.66%
3.46%
2.61%
2.54%
2.50%
MEDIAN PRICE PER SQ. FT. (AED)
3000
2500
2000
1500
1000
500
37%
15%
9%
37%
TOP SEARCHESBY NUMBER
OF BEDROOMS
AUGUST 2014
RENTAL YIELDS
Dubai Marina
Downtown Dubai
Jumeirah Lake Towers
Palm Jumeirah
Dubailand
Jumeirah Beach Residence
Dubai Sports City
Jumeirah Village Circle
Business Bay
International City
6.29%
5.07%
7.54%
5.62%
6.75%
6.04%
9.09%
8.06%
5.70%
8.46%
5.97%
5.17%
7.42%
5.56%
7.52%
5.95%
8.45%
8.13%
5.97%
9.29%
AUGUST2013
AUGUST2014
AUGUST2013
AUGUST2014
Dubai Silicon Oasis
Greens
Discovery Gardens
DIFC
Old Town
The Views
IMPZ
Dubai Investment Park
MotorCity
Deira
7.31%
8.63%
8.46%
5.66%
5.83%
6.69%
7.11%
8.68%
8.04%
5.71%
8.33%
7.02%
9.85%
6.41%
5.37%
6.44%
7.85%
8.85%
7.53%
14.48%
DUBAIAPARTMENTS
AUGUST 2013
1
13
12
11
10
9
8
7
6
5
4
3
2
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MEDIAN PRICE PER COMMUNITY (AED)
901,800
1.5 million
3.3 million
2.3 million
3.5 million
950,000
2.5 million
899,000
3.3 million
750,000
475,000
1.7 million
2.3 million
2.7 million
2.9 million
Dubai Marina
Downtown Dubai
Jumeirah Lake Towers
Dubai Sports City
Palm Jumeirah
Dubailand
Business Bay
Jumeirah Village Circle
Jumeirah Beach Residence
Dubai Silicon Oasis
International City
Greens
The Views
DIFC
Old Town
13
14
15
12
11
10
9
8
7
6
5
4
3
2
12 3 4 5 6 7 8 9 10 11 12 13 14 15
21.03%
AE
D
AT A GLANCEInternational City experienced the highest price growth at 44%, followed by Jumeirah Village Circle at 38%, Dubai Silicon Oasis at 34%, Jumeirah Beach Residence at 33% and Dubai Sports City and Business Bay at 32% based on a year-on-year rise in median prices. 1,518.60
2,383.10
1,093.40
701.10
1,657.80
785.20
1,405.20
701.30
1,441.80
656.50 527.70
1,368.601,538.50
1,768.00
2.090.90
1,811.00
2,621.30
1,447.90
922.20
1,890.90
904.80
1,842.30
969.80
1,923.10
882.40760.00
1,613.601,755.70
1,738.50
TOP SEARCHED APARTMENT COMMUNITIES
2,355.80
1 BR
2 BR
3 BR
Studio
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Apartment Villa
66.44% 26.36%
MEDIAN PRICE PER SQ. FT. (AED)
RENTAL YIELDS
Arabian Ranches
The Springs
Palm Jumeirah
Dubailand
Jumeirah Park
Jumeirah
Meadows
Al Barsha
Umm Suqueim
5.35%
5.81%
3.69%
4.43%
4.71%
3.80%
4.61%
3.73%
3.98%
5.37%
5.74%
3.33%
4.51%
4.96%
3.89%
4.49%
4.17%
4.03%
AUGUST2013
AUGUST2014
AUGUST2013
AUGUST2014
Jumeirah Village Circle
Emirates Hills
Mirdif
The Lakes
Dubai Sports City
Jumeirah Islands
Jumeirah Village Triangle
Al Furjan
Al Barari
5.55%
3.18%
5.57%
5.51%
5.39%
3.94%
4.70%
5.04%
3.55%
5.07%
3.70%
4.05%
5.32%
4.64%
3.43%
5.00%
4.33%
4.00%
AUGUST 2014AUGUST 2013
MEDIAN PRICE PER COMMUNITY (AED)
4.8 million
3.2 million
18 million
4.8 million
38 million
6.5 million
4.8 million
4.6 million
1.7 million
6.3 million
3.1 million
10.5 million
9.5 million
16 million
3.4 million
Arabian Ranches
Palm Jumeirah
The Springs
Dubailand
Emirates Hills
Meadows
Jumeirah Park
The Lakes
Reem Community
Dubai Sports City
Jumeirah Village Circle
Jumeirah Islands
Jumeirah Golf Estates
Al Barari
Jumeirah Village Triangle
13
14
15
12
11
10
9
8
7
6
5
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TOP 20 MOST SEARCHED VILLA COMMUNITIES
TOP SEARCHES BY PROPERTY TYPE
10.36%
9.96%
8.83%
7.04%
5.37%
4.78%
3.82%
3.50%
3.34%
3.16%
2.82%
2.64%
2.37%
2.10%
2.00%
25%
33%
10%
32%
TOP SEARCHESBY NUMBER
OF BEDROOMS
DUBAIVILLAS
13
14
15
16
12
11
10
9
8
7
6
5
4
3
2
1 16.33%
3000
2500
2000
1500
1000
500
AE
D
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
AT A GLANCEJumeirah Village Circle saw the highest villa price growth at 37.81% followed by Jumeirah Islands at 28.10% and The Lakes at 22%. Palm Jumeirah experienced a 16.13% rise in villa prices while The Springs and Dubailand registered a 16% increase each, year-on-year.
Rental yield offered by Discovery Gardens
apartments
Rental yield offered by Springs villas
Year-on-year rise in median price per sq. ft.
for Dubai Marinaapartments
Year-on-year rise in median price per sq. ft.
for Palm Jumeirah villas
Arabian Ranches
Palm Jumeirah
The Springs
Dubailand
Emirates Hills
Meadows
Jumeirah Park
The Lakes
Reem Community
Dubai Sports City
Jumeirah Village Circle
Jumeirah Islands
Jumeirah Golf Estates
Al Barari
Jumeirah Village Triangle
Jumeirah
LESS THAN 2% EACHAl Furjan, Green Community, Dubai Marina & Al Barsha
1,301.30
2,384.60
1,204.60
882.40
2,129.00
1,481.801,273.20 1,352.10
660.42
1,326.70
835.60
1,517.901,495.60
1,096.80 1,171.00
TOP SEARCHED VILLA COMMUNITIES
1,388.10
2,769.20
1,391.30
1,018.50
2,400.00
1,597.60
1,155.50
1,649.60
707.17
1,453.62
1,151.50
1,944.40
1,682.30
1,154.60
1,263.94
5.74%19.30%9.85% 16.13%
3 BR
2 BR
4 BR
5+ BR
*All data is based on listing prices displayed on propertyfinder.ae
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TOP 10 MOST SEARCHED APARTMENT COMMUNITIES
Al Reem Island
Al Raha Beach
Al Reef
Al Ghadeer
Saadiyat Island
Hydra Village
Danet Abu Dhabi
Al Raha Golf Gardens
Al Raha Gardens
Al Qurm
20.69%
11.73%
9.51%
3.31%
0.33%
0.17%
0.05%
0.02%
0.02%
MEDIAN PRICE PER SQ. FT. (AED)
2000
1500
1000
500
37%
17%
7%
36%
TOP SEARCHESBY NUMBER
OF BEDROOMS
AUGUST 2014
RENTAL YIELDS
Al Reem Island
Al Raha Beach
Al Reef
7.34%
7.33%
8.43%
6.75%
6.86%
8.15%
AUGUST
2013 2014
7.42%
7.27%
7.58%
SEPTEMBER
7.23%
7.01%
7.28%
OCTOBER
6.71%
6.99%
8.13%
JULY AUGUST
ABUDHABI
APARTMENTS
AUGUST 2013
1
10
9
8
7
6
5
4
3
2
1
MEDIAN PRICE PER COMMUNITY (AED)
737,100
1.2 million
2.3 million
3 million
Al Reem Island
Al Raha Beach
Al Reef
Al Ghadeer
Saadiyat Island 5
4
3
2
1
2 3 4
54.14%
AE
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AT A GLANCEAl Ghadeer led the way, with a 55.70% rise in apartment prices year-on-year. Al Reef followed suit, recording a 35.17% increase. At third and fourth places were Al Raha Beach and Al Reem Island, registering growth rates of 22.51% and 17.97%, respectively.
1,228.501,251.60
710.80 685.60
1,449.301,533.30
960.801,067.50
TOP SEARCHED APARTMENT COMMUNITIES
Abu Dhabi skyline at nightAbu Dhabi skyline at night
1.6 million
1 BR
2 BR
3 BR
Studio
RENTAL YIELDS
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Apartment Villa
67.19% 23.58%
MEDIAN PRICE PER SQ. FT. (AED)
TOP SEARCHES BY PROPERTY TYPE
25%
20%
18%
38%
TOP SEARCHESBY NUMBER
OF BEDROOMS
Rental yield offered byAl Reef apartments
Rental yield offered byAl Reef villas
Year-on-year rise in median price per sq. ft.
for Al Ghadeerapartments
Year-on-year rise in median price per sq. ft. for Hydra Village villas
6.59%55.70%8.15% 36.79%
ABUDHABI
VILLAS
MEDIAN PRICE PER COMMUNITY (AED)
1.3 million
4 million
9.8 million
5.1 million
Al Reef
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens 5
4
3
2
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AT A GLANCEVilla price growth in Al Raha Gardens stood at 38.30% year-on-year. Hydra Village was not far behind, recording a 36.79% increase, while Saadiyat Island and Al Reef followed suit with a 33.67 and 23.53% rise in villa prices, respectively.
2 millionAl Reef
Hydra Village
Al Raha Gardens
Saadiyat Island
Al Raha Golf Gardens
6.94%
9.47%
7.96%
4.78%
7.40%
6.59%
6.54%
6.19%
4.41%
6.32%
AUGUST
2013 2014
6.78%
8.95%
7.98%
4.90%
7.59%
SEPTEMBER
6.75%
8.72%
7.93%
5.14%
7.29
OCTOBER
6.58%
7.34%
6.19%
4.47%
6.50%
JULY AUGUST
TOP 10 MOST SEARCHED VILLA COMMUNITIES
Al Reef
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Al Ghadeer
Nurai Island
Al Bateen
Al Raha Beach
16.26%
10.89%
8.70%
7.48%
4.05%
2.85%
2.42%
2.19%
1.94%10
9
8
7
6
5
4
3
2
1 35.30%
3 BR
5+ BR
2 BR
4 BR
2000
1500
1000
500
AUGUST 2014AUGUST 2013
1 2 3 4 5
AE
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701.30
1,467.00
826.40
514.30
866.30
1,960.90
1,142.90
703.50
TOP SEARCHED VILLA COMMUNITIES
874.201,011.60
*All data is based on listing prices displayed on propertyfinder.ae
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Dubai Marina
MEDIAN RENT PER SQ. FT. (AED)
MEDIAN SIZE (SQ. FT.)
150
120
90
60
30
38%
16%
9%
36%
TOP SEARCHESBY NUMBER
OF BEDROOMS
AUGUST 2014
DUBAIAPARTMENTS
AUGUST 2013
1MEDIAN RENT PER COMMUNITY (AED)
65,888
160,000
100,000
155,000
200,000
199,999
60,000
120,000
125,000
67,000
58,000
42,000
115,000
70,000
90,000
Dubai Marina
Jumeirah Lake Towers
Downtown Dubai
Dubailand
Palm Jumeirah
Jumeirah Beach Residence
Dubai Silicon Oasis
Business Bay
Greens
Jumeirah Village Circle
Discovery Gardens
International City
Deira
Dubai Sports City
Bur Dubai
Palm Jumeirah
Jumeirah Beach Residence
Sheikh Zayed Road
Dubai Marina
Business Bay
Deira
DIFC
Old Town
Downtown Dubai
Al Barsha
13
14
15
12
11
10
9
8
7
6
5
4
3
2
12 3 4 5 6 7 8 9 10 11 12 13 14 15
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AT A GLANCEWhile International City saw median rent rises of 70.80% year-on-year, Jumeirah Village Circle apartment rents rose by 37.05% and Dubailand by 35.70%. Dubai Sports City experienced an increase of 29.63%, Business Bay a rise of 23.23% while Jumeirah Beach Residence and Dubai Silicon Oasis recorded increases of 19.93 and 18.06%, respectively.
98.48
86.96
125.75
50.42
95.1193.19
56.47
80.88
108.37
61.11 62.43
49.18
65.3860.00
66.67
118.50
102.15
132.45
68.42
106.72 111.76
66.67
99.67
123.46
83.7592.13
84.00
92.00
77.78
TOP SEARCHED APARTMENT COMMUNITIES
93.75
TOP 20 MOST SEARCHED APARTMENT COMMUNITIES
8.86%
8.15%
6.76%
6.22%
4.27%
3.84%
3.79%
3.09%
3.05%
2.79%
2.53%
2.47%
2.38%
2.23%
2.18%
13
14
15
16
12
11
10
9
8
7
6
5
4
3
2
1 21.00%Dubai Marina
Jumeirah Lake Towers
Downtown Dubai
Dubailand
Palm Jumeirah
Jumeirah Beach Residence
Dubai Silicon Oasis
Business Bay
Greens
Jumeirah Village Circle
Discovery Gardens
International City
Deira
Dubai Sports City
Bur Dubai
Al Barsha
LESS THAN 2% EACHDIFC, Sheikh Zayed Road, Old Town & IMPZ
Al Barsha
Downtown Dubai
Business Bay Old TownPalm Jumeirah
Dubai Marina
Jumeirah Beach Residence
Deira
DIFC
Sheikh Zayed Road
1,880
1,700
1,450
1,320
1,250
1,250
1,247
1,235
1,219
1,000
1 BR
2 BR
3 BR
Studio
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MEDIAN SIZE (SQ. FT.)
Emirates Hills
Al Barsha
Dubailand
Al Quoz
Palm Jumeirah
Al Furjan
Jumeirah Islands
Jumeirah Golf Estates
Jumeirah
Umm Suqueim
12,000
6,000
5,700
5,600
5,500
5,412
5,400
4,790
4,500
4,500
Apartment Villa
70.25% 27.03%
MEDIAN RENT PER SQ. FT. (AED)
AUGUST 2014AUGUST 2013
MEDIAN RENT PER COMMUNITY (AED)
300,000
300,000
240,000
180,000
300,000
175,000
290,000
250,000
550,000
250,000
160,000
360,000
240,000
280,000
350,000
The Springs
Arabian Ranches
Jumeirah
Umm Suqueim
Al Barsha
Mirdif
Meadows
Dubailand
Palm Jumeirah
Jumeirah Park
Jumeirah Village Circle
Jumeirah Islands
The Lakes
Dubai Sports City
Jumeirah Golf Estates
13
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10
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8
7
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TOP 20 MOST SEARCHED VILLA COMMUNITIES
TOP SEARCHES BY PROPERTY TYPE
11.75%
9.63%
6.43%
6.23%
5.99%
5.55%
5.06%
4.59%
3.10%
2.99%
2.78%
2.60%
2.57%
2.27%
2.20%
26%
31%
12%
31%
TOP SEARCHESBY NUMBER
OF BEDROOMS
DUBAIVILLAS
13
14
15
16
12
11
10
9
8
7
6
5
4
3
2
1 13.56%
100
80
60
40
AE
D
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15
AT A GLANCEJumeirah Village Circle led the way with a 29.67% rise in median villa rents year-on-year, with Dubailand following suit with a 14.43% increase. Jumeirah Park and Jumeirah Golf Estates experienced a growth of close to 13% each, while Palm Jumeirah and Jumeirah Islands saw rises of around 12% each.
Median size of anEmirates Hills
villa
Year-on-year rise in median price per sq. ft.
for The Lakes villas
The Springs
Arabian Ranches
Jumeirah
Umm Suqueim
Al Barsha
Mirdif
Meadows
Dubailand
Palm Jumeirah
Jumeirah Park
Jumeirah Village Circle
Jumeirah Islands
The Lakes
Dubai Sports City
Jumeirah Golf Estates
Jumeirah Village Triangle
LESS THAN 2% EACHEmirates Hills, Al Furjan, Green Community & Al Quoz
67.18 69.6566.67
66.67
46.15
50.00
67.19
38.33
90.00
62.38
45.70
59.94
80.25
67.67
65.06
TOP SEARCHED VILLA COMMUNITIES
73.47
79.29
66.67
64.44
50.00
49.30
72.17
43.86
100.00
70.48
59.26
66.89
88.58
64.61
73.07
10.38%
3 BR
2 BR
4 BR
5+ BR
Median size of aDubai Marina
apartment
Year-on-year rise in median price per sq. ft.
for Dubai Marinaapartments
20.33%1,320sq. ft.
12,000sq. ft.
Palm Jumeirah
Jumeirah
Umm Suqueim
Jumeirah Islands
Al Barsha
Emirates Hills
Jumeirah Golf Estates
Al Quoz
Al Furjan
Dubailand
*All data is based on listing prices displayed on propertyfinder.ae
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Abu Dhabi skylineAbu Dhabi skyline
Saadiyat Island
Al Bateen
Corniche Road
Al Khalidiya
Corniche Area
Al Raha Beach
Airport Road
Hamdan Street
Al Reef
Muroor Area
2,050
1,800
1,722
1,721
1,600
1,550
1,237
1,400
1,400
1,200
ABUDHABI
APARTMENTS
MEDIAN RENT PER SQ. FT. (AED)
120
100
80
MEDIAN SIZE (SQ. FT.)
MEDIAN RENT PER COMMUNITY (AED)
170,000
160,000
178,500
60,000
Al Reem Island
Al Raha Beach
Al Khalidiya
Corniche Road
Al Ghadeer 5
4
3
2
1
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AT A GLANCEAmongst the top 5 communities, Al Reem Island saw the highest apartment rental growth rate of 12.12%, year-on-year. Al Raha Beach placed second, with a 10.71% rise.
95.65
101.98
96.42
100.00
107.24
112.90
88.24
98.72
TOP SEARCHED APARTMENT COMMUNITIES
115,000
TOP 10 MOST SEARCHED APARTMENT COMMUNITIES
Al Reem Island
Al Raha Beach
Al Khalidiya
Corniche Road
Al Ghadeer
Al Reef
Muroor Area
Corniche Area
Al Salam Street
Hamdan Street
8.77%
6.48%
6.45%
6.14%
6.02%
5.15%
2.89%
2.67%
2.67%10
9
8
7
6
5
4
3
2
1 29.91%
31%
24%
1%7%
7%
32%
TOP SEARCHESBY NUMBER
OF BEDROOMS
1 BR
5+ BR
2 BR
3 BR
4 BR
Studio
84.6283.84
AUGUST 2014AUGUST 2013
Al KhalidiyaCorniche Road
Corniche Area
Al Raha Golf Gardens
Al Raha Beach
Muroor Area
Al Reef
Hamdan Street
Al Bateen
Airport Road
Saadiyat Island
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Apartment Villa
70.81% 23.79%
TOP SEARCHES BY PROPERTY TYPE
24%
13%
8%
55%
TOP SEARCHESBY NUMBER
OF BEDROOMS
16.38%12.12%
5+ BR
Others
4 BR
3 BR ABUDHABI
VILLAS
Saadiyat Island
Al Bateen
Al Karama
Al Raha Golf Gardens
Al Qurm
Between Two Bridges
Al Mushrif
Khalifa City
Muroor Area
Al Khalidiya
9,000
4,500
4,400
4,349
4,000
4,000
3,500
3,950
3,500
3,498
MEDIAN SIZE (SQ. FT.)
1 2 3 4 5
80
70
60
50
AUGUST 2014AUGUST 2013
AE
D
57.14
49.50
53.33
69.66
57.14 57.61
51.42
70.24
TOP SEARCHED VILLA COMMUNITIES
77.2676.67
TOP 10 MOST SEARCHED VILLA COMMUNITIES
Khalifa City
Al Reef
Mohamed Bin Zayed City
Al Raha Gardens
Al Bateen
Muroor Area
Al Mushrif
Between Two Bridges
Hydra Village
Al Khalidiya
13.47%
10.57%
5.72%
3.25%
3.24%
3.04%
2.53%
2.38%
2.10%10
9
8
7
6
5
4
3
2
1 34.74%
MEDIAN RENT PER SQ. FT. (AED)
MEDIAN RENT PER COMMUNITY (AED)
220,000
180,000
135,000
330,000
Khalifa City
Al Reef
Mohamed Bin Zayed City
Al Raha Gardens
Al Bateen 5
4
3
2
1
AT A GLANCEAl Reef registered a rise of 16.38%, year-on-year, while Al Raha Gardens recorded an increase of just 1%.
*All data is based on listing prices displayed on propertyfinder.ae
200,000
Median size of aSaadiyat Island
apartment
Median size of anAl Raha Golf Gardens
villa
Year-on-year rise in median price per sq. ft. for an Al Reem Island
apartment
Year-on-year rise in median price per sq. ft.
for an Al Reef villa
Al Khalidiya
Al Raha Golf Gardens
Al KaramaAl Mushrif
Muroor AreaKhalifa City
Al QurmAl Bateen
Between Two Bridges
Saadiyat Island
2,050sq. ft.
4,349sq. ft.
CO
MM
ER
CIA
LU
AE
RE
AL
ES
TAT
E R
EV
IEW
Q3
20
14
DUBAICOMMERCIAL
BUY
MOST SEARCHED COMMUNITIES
Business Bay
Jumeirah Lake Towers
DIFC
Downtown Dubai
Tecom
Dubai Marina
Dubai Silicon Oasis
Dubai Investment Park
Jebel Ali
26.03%
6.80%
4.93%
4.50%
4.00%
3.98%
3.26%
3.21%9
8
7
6
5
4
3
2
1 32.87%
Downtown Dubai and Sheikh Zayed RoadDowntown Dubai and Sheikh Zayed Road
11.66%
71.22%
TOP SEARCHESBY PROPERTY TYPE
Plot
Office space
DUBAICOMMERCIAL
RENT
MOST SEARCHED COMMUNITIES
Business Bay
Jumeirah Lake Towers
Sheikh Zayed Road
Al Quoz
DIFC
Tecom
Deira
Downtown Dubai
Jumeirah
Dubai Marina
Al Barsha
Dubai Media City
18.95%
6.53%
5.26%
4.29%
4.29%
4.13%
4.12%
3.72%9
3.24%10
2.46%11
2.29%12
8
7
6
5
4
3
2
1 24.19%
8.20%
83.71%
TOP SEARCHESBY PROPERTY TYPE
Retail
Office space
LESS THAN 2% EACHDubai Investment Park, Dubai Silicon Oasis, Bur Dubai, Al Qusais, Jebel Ali, Umm Suqueim, Dubai Healthcare City & Jumeirah Beach Residence
LESS THAN 2% EACHJumeirah Village Circle, Sheikh Zayed Road, International City,Deira, MotorCity, Jumeirah, Al Quoz, Jumeirah Beach Residence, Dubai Healthcare City, Al Qusais & Dubailand
*All data is based on listing prices displayed on propertyfinder.ae
UAEQATAR
LEBANON
BAHRAINEGYPT
MOROCCO
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