UAE Real Estate Review
Q2 2014
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Which communities were people looking to buy and rent in Dubai and Abu Dhabi last quarter?
How much should you pay to buy or rent a pad?
DUBAI TOP 10 SEARCHED COMMUNITIES
Downtown Dubai Downtown Dubai
propertiesviewed
679licensed real estate
brokerages & developers
324,500properties
listed
153million
322,000inquiries
generated
Dubai Marina
Palm Jumeirah
Downtown Dubai
Dubailand
Jumeirah Village Circle
Jumeirah Lake Towers
Dubai Sports City
Arabian Ranches
Jumeirah Beach Residence
Business BayNEW
1
2
3
4
5
6
7
8
9
10
1
2
3
4
6
8
10
9
5
7
Dubai Marina continues to ace the rankings; has been Dubai’s top community for buying property for over 2 years in a row.
Rise of Dubailand: the area placed 7th in Q2 2013; this quarter, it has grabbed 4th spot.
Jumeirah Village Circle has upped its ranking. In Q2 2013, it took 18th spot; this quarter it’s at 5th place. Similarly, Dubai Sports City, placing 9th in 2013, has moved up 2 places this quarter.
Business Bay is also rising in popularity. In Q2 2012 and 2013, the community placed 13th; has jumped 3 places this quarter.
Highlights
DUBAI AVERAGE PROPERTY PRICES PRICE (June 2014)
APARTMENTS
Studio
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
Dubai Marina
Palm Jumeirah
Downtown Dubai
Dubailand
Jumeirah Village Circle
Jumeirah Lake Towers
Dubai Sports City
Arabian Ranches
Jumeirah Beach Residence
Business Bay
2.8
4
3.9
1
1
1.8
1
Not Applicable
3.4
2.5
8.5
20
8.7
5.3
3.1
Not Applicable
6.1
5.1
Not Applicable
9
Dubai Marina
Palm Jumeirah
Downtown Dubai
Dubailand
Jumeirah Village Circle
Jumeirah Lake Towers
Dubai Sports City
Arabian Ranches
Jumeirah Beach Residence
Business Bay
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZEAVERAGE PRICE
BY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
1,604
1,783
1,950
1,929
2,064
598
959
1,554
2,298
4,074
VILLAS
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 Bedrooms
2.8
4
6.6
9.3(AED MILLION)
(AED MILLION) (AED)(SQ. FT.)
(AED MILLION) (AED)(SQ. FT.)
2,231
3,110
4,637
6,059
1,279
1,302
1,440
1,536
(AED)(SQ. FT.)
(AED MILLION) (AED)(SQ. FT.)
1,959
2,008
2,987
927
986
1,414
959
1,961
1,706
1,478
2,032
1,314
1,092
1,072
1,306
1,057
1,782
1,517
4,922
6,447
2,880
5,229
3,097
4,257
3,608
5,994
1,732
3,117
3,032
1,016
1,013
1,440
1,428
1,516
959K
1.7
3
4.4
8.4
4
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ABU DHABI TOP 10 SEARCHED COMMUNITIES
UAE TOP SEARCHES
1
5
69
10
2
7
8
3
Apartment
500K - 1M 1M - 1.5M 1.5M - 2M 2M - 2.5M10M & MORE
Villa
58.69% 31.89%
UAE top searches by property type
2 BR 3 BR 1 BR 4 BR 5 BR
25.80% 19.82% 19.77% 12.94% 8.11%
UAE top searches by number of bedrooms
12.49% 12.4% 11.59% 11.55% 9.07%
UAE top searches by price bands (AED MILLION)
NEW
NEW
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
1
2
3
4
5
6
7
8
9
10
Highlights
The battle for the top spot between Al Reem Island, Al Reef and Al Raha Beach continues; Al Reem wins this time.
Al Ghadeer enters the top 10 this quarter; rise in appeal for the community as it did not make the list in Q2 2013 and 2012.
Mohammed bin Zayed City makes its entry in the top 10; did not figure in the list in Q1 2014 and Q4 2013.
Saadiyat Island moves up one spot since its Q2 2013 ranking. Nurai Island, part of the list in Q2 2012 and 2013, fails to make the top 10 this quarter.
ABU DHABI AVERAGE PROPERTY PRICES PRICE (June 2014)
APARTMENTS
Studio
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
1.9
1.3
2.4
810K
3.3
3
1.3
4.2
NA
NA
NA
2.2
10.3
2.1
12.1
4
1.3
5.4
10.4
11.9
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZEAVERAGE PRICE
BY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
1,340
1,479
1,420
1,381
1,427
514
910
1,405
1,986
2,665
VILLAS
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 Bedrooms
1.5
2.3
4.9
7.8(AED MILLION)
(AED MILLION) (AED)(SQ. FT.)
(AED MILLION) (AED)(SQ. FT.)
1,806
2,477
4,006
5,547
822
918
1,214
1,412
(AED)(SQ. FT.)
(AED MILLION) (AED)(SQ. FT.)
1,483
901
1,559
1,054
1,627
794
690
1,018
1,250
1,425
1,553
769
2,022
3,812
1,860
4,126
2,561
7,000
2,016
7,533
3,577
1,871
4,913
3,499
4,647
852
1,470
1,046
1,614
1,128
687
1,101
2,984
2,557
689K
1.3
2
2.7
3.8
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DUBAI TOP 10 SEARCHED COMMUNITIES
Dubai Marina & Jumeirah Lake TowersDubai Marina & Jumeirah Lake Towers
1
5
3
2
4
8
7
Dubai Marina
Dubailand
Downtown Dubai
Jumeirah Lake Towers
Palm Jumeirah
Jumeirah Village Circle
The Springs
Arabian Ranches
Jumeirah Beach Residence
Dubai Sports City
NEW
NEW
1
2
3
4
5
6
7
8
9
10
6
9
10
Dubailand steals the show — grabs 2nd spot despite ranking 7th in Q2 2013 and 12th in 2012.
Al Barsha loses its place in the top 10 for the first time. The community was ranked 8th in Q2 2013 and 7th in Q2 2012.
From not making the top 10 in Q2 2013, Jumeirah Village Circle is now at 6th place. In Q2 2012, the community placed 9th.
Jumeirah seems to be losing its appeal. The area was ranked 6th in Q2 2012 and 9th in Q2 2013. This quarter, it fails to make the top 10.
Highlights
DUBAI AVERAGE PROPERTY PRICES PRICE (June 2014)
APARTMENTS
Studio
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
Dubai Marina
Dubailand
Downtown Dubai
Jumeirah Lake Towers
Palm Jumeirah
Jumeirah Village Circle
The Springs
Arabian Ranches
Jumeirah Beach Residence
Dubai Sports City
166K
71K
172K
112K
201K
71K
Not Applicable
Not Applicable
198K
71K
306K
253K
286K
Not Applicable
582K
159K
173K
253K
Not Applicable
294K
Dubai Marina
Dubailand
Downtown Dubai
Jumeirah Lake Towers
Palm Jumeirah
Jumeirah Village Circle
The Springs
Arabian Ranches
Jumeirah Beach Residence
Dubai Sports City
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZEAVERAGE PRICE
BY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
124
113
112
103
91
533
941
1,541
2,229
3,493
VILLAS
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 Bedrooms
153K
221K
312K
344K(AED THOUSAND)
(AED THOUSAND) (AED)(SQ. FT.)
(AED THOUSAND) (AED)(SQ. FT.)
2,128
2,963
4,489
5,438
72
75
70
63
(AED)(SQ. FT.)
(AED THOUSAND) (AED)(SQ. FT.)
114
69
141
102
106
78
117
79
1,452
1,042
1,222
1,101
1,908
918
1,690
889
4,063
5,507
2,272
5,705
3,140
2,260
3,348
4,416
75
46
126
102
51
77
76
67
66K
106K
172K
229K
319K
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UAE TOP RENT SEARCHES
80K - 100K 60K - 80K 120K - 140K 140K - 160K 100K - 120K
Apartment Villa
65.10% 31.4%
UAE top searches by property type
2 BR 1 BR 3 BR 4 BR 5 BR
26.60% 21.50% 20.96% 12.11% 8.65%
UAE top searches by number of bedrooms
12.01% 10.46% 9.76% 9.56% 8.80%
UAE top searches by price bands
7
1
5
10
2
6
3
9
8
4
Al Reem Island
Khalifa City
Al Reef
Al Raha Beach
Al Khalidiya
Mohamed Bin Zayed City
Al Ghadeer
Corniche Road
Muroor Area
Al Raha Gardens
NEW
NEW
1
2
3
4
5
6
7
8
9
10
ABU DHABI TOP 10 SEARCHED COMMUNITIES
Highlights
Al Reem Island steals the spotlight from Khalifa City since Q1 2014; is Abu Dhabi’s most searched rental community this quarter.
Al Raha Gardens’ popularity has fallen. The area was ranked 8th in Q2 2013, this quarter it’s at 10th spot.
Al Ghadeer makes its entry the top 10 this quarter; a step up for the community as it did not figure in the list in Q2 2013 and Q2 2012.
Mohammed Bin Zayed City’s appeal seems to be rising. From not making the top 10 in Q2 2013 and Q2 2012, the community is now at 6th place.
ABU DHABI AVERAGE PROPERTY PRICES PRICE (June 2014)
APARTMENTS
Studio
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
122K
102K
91K
168K
160K
101K
55K
166K
140K
NA
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZEAVERAGE PRICE
BY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
129
106
100
94
88
504
873
1,385
1,932
2,708
VILLAS
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 Bedrooms
105K
164K
253K
266K
(AED)(SQ. FT.)
(AED)(SQ. FT.)
1,769
2,622
3,694
4,073
60
63
69
65
(AED)(SQ. FT.)
(AED)(SQ. FT.)
100
97
75
108
98
48
89
104
111
1,213
1,053
1,207
1,548
1,634
2,110
619
1,590
1,265
2,450
3,857
2,634
5,835
3,754
3,346
1,981
4,080
3,025
3,324
112
63
54
67
73
68
61
113
88
67
65K
92K
139K
181K
239K (AED THOUSAND)
(AED THOUSAND)
(AED THOUSAND) (AED THOUSAND)
275K
243K
143K
390K
274K
228K
121K
460K
267K
222K
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BUY TOP 10 SEARCHED COMMUNITIES
UAE TOP SEARCHESBY PRICE BANDS PERCENTAGE
1
2
3
4
5
28.90%
22.12%
6.70%
5.65%
4.60%
BUY
Business Bay
Jumeirah Lake Towers
DIFC
Tecom
Dubai Investment Park
Dubai Marina
Jebel Ali
Dubai Silicon Oasis
Downtown Dubai
Jumeirah Village Circle
NEW
NEW
1
2
3
4
5
6
7
8
9
10
Dubai Marina’s popularity as a commercial real estate destination has increased; from securing 9th spot in Q2 2013, the community is now 6th in the list.
Jebel Ali’s appeal has declined; from placing 3rd in Q2 2013, the community is now at 7th place.
Dubai Silicon Oasis is emerging as a strong player; from not making the top 10 in Q2 2013, the community is now the 8th most searched area.
Jumeirah Village Circle enters the top 10, despite not securing a spot in Q2 2013.
Highlights
DUBAI AVERAGE PRICES PRICE (June 2014)
Full floor
Office space
Warehouse
10M & MORE
1M - 1.5M
500K - 1M
1.5M - 2M
2M - 2.5M
27.30%
14.61%
11.33%
11.33%
5.88%
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
11,937
2,431
68,251
(AED)(SQ. FT.)
18.3
3.4
18.7(AED MILLION)
Business Bay
Jumeirah Lake Towers
DIFC
TECOM
Dubai Investment Park
Dubai Marina
Jebel Ali
Dubai Silicon Oasis
Downtown Dubai
Jumeirah Village Circle
4.9
3
12.3
21.5
18.3
14
32
2.1
22
19.1(AED)(SQ. FT.)
1,541
1,399
274
1,432
1,222
2,054
1,247
475
2,245
311
794
3,742
163
3,491
2,509
6,018
17,270
38,610
6,267
105,458
2,696
5,950
117,325
(AED MILLION) UA
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Dubai SkylineDubai Skyline
RENT TOP 10 SEARCHED COMMUNITIES
1
2
3
4
5
20.43%
18.49%
5.82%
5.28%
4.29%
RENT
From not grabbing a spot in the top 10 in Q2 last year, Deira has taken 7th spot this time.
Downtown Dubai is climbing up the ranks; from not being in the top 10 last year, the community is now at 9th spot.
In the top 6 in Q2 2013, Dubai Marina has dropped 4 places this quarter.
Sheikh Zayed Road has climbed 6 places since Q2 2013 to take 3rd spot.
Highlights Business Bay
Jumeirah Lake Towers
Sheikh Zayed Road
Al Quoz
Tecom
DIFC
Deira
Jumeirah
Downtown Dubai
Dubai Marina
NEW
NEW
1
2
3
4
5
6
7
8
9
10
UAE TOP SEARCHESBY PRICE BANDS PERCENTAGE
500K & MORE
80K - 100K
60K - 80K
100K - 120K
40K - 60K
17.53%
12.41%
11.14%
8%
6.74%
Full floor
Office space
Warehouse
1.2M
286K
790K
10,689
2,639
18,932
117
109
42
(AED)(SQ. FT.)(AED THOUSAND)
Al Reem Island
Al Reef
Al Raha Beach
Al Ghadeer
Saadiyat Island
Al Raha Gardens
Hydra Village
Al Raha Golf Gardens
Khalifa City
Mohamed Bin Zayed City
(AED)(SQ. FT.)
2,741
1,812
3,784
8,121
3,610
5,169
3,975
5,632
6,464
4,710
110
97
128
77
113
201
117
151
218
163
(AED THOUSAND)
302K
176K
482K
621K
408K
1M
463K
849K
1.4M
768K
DUBAI AVERAGE RENTS PRICE (June 2014)
AVERAGE PRICEBY PROPERTY TYPE
AVERAGEPRICE
PER SQ. FT.AVERAGE
SIZE
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