#Report: Dubai real estate market performance Q2 2019

Villa/Townhouse price performance

 

in Q2 2019 average villa/townhouse prices remained stable at AED 1.8 million.

 

Prime communities quarterly price difference Q1 - Q2 2019 (villa/Townhouse)

 

The springs -3.8%   Transacting at 894 AED/SQ.FT

Jumeirah Park -3.6% Transacting at 919 AED/SQ.FT        

Arabian Ranches -4.9% Transacting at 980 AED/SQ.FT

Jumeirah Golf Estates -4.5% Transacting at 1,100 AED/SQ.FT 

Jumeirah Islands -4.0% Transacting at 1,238 AED/SQ.FT

Fronds on Palm Jumeirah -4.4% Transacting at 2,258 AED/SQ.FT

 

Apartment price performance

the average apartment price 2019 declined 5% to AED 1.3 million from AED 1.4 million in Q1 2019.

 

Prime communities quarterly price difference Q1 - Q2 2019 (Apartment)

 

Business bay -4.8%   Transacting at 1,259 AED/SQ.FT

Dubai Marina -4.5% Transacting at 1,407 AED/SQ.FT      

JBR -2.6 Transacting at 1,407 AED/SQ.FT

DIFC -3.7% Transacting at 1,544 AED/SQ.FT

Palm Jumeirah -3.8% Transacting at 1,892 AED/SQ.FT

Downtown -5.0% Transacting at 1,996 AED/SQ.FT

 

Supply

over 1,700 apartments and 1,250 villas/townhouses were handed over in Dubai during Q2 2019 and the expected supply until end of 2019 is around 1,500 apartments and 1500 to 2000 villa/townhouses

 

Dubai Transactions overview

Off-plan transfers continued to dominate in Q2 2019, accounting for more than 52.2% of total transfers. The total number of transfers in this period was 9,092, for villas/townhouses and apartments overall.

 

Top 5 communities for apartment transfer

 

Off plan transfers

1-Mouhamad Bin Rashid City

2-Downtown Dubai

3-Dubai Creek harbor

4-Business Bay

5-jumeirah Village Circle

 

 

Secondary market transfers

1-Dubai Marina

2-International City

3-Jumeirah Village Circle

4-Downtown Dubai

5-Buiness Bay

 

Top 5 communities for villa/townhouses transfer

 

Off plan transfers

1-Dubai South

2-Villa Nova

3-Town Square

4-Mouhamad Bin Rashid City

5-Arabian Ranches 2

 

Secondary market transfers

1-Emirates Living

2-Arabian Ranches

3-Mouhamad Bin Rashid City  

4-Jumeirah Village Circle

5-Arabian Ranches 2

 

 

 

Source : cavendish maxwell