Average house price in Dubai 2024
Are you willing to buy a house in Dubai? this guide shows the house prices in Dubai in the famous residential complexes. Also, read about the future forecast for house prices in Dubai.
- Dubai Housing Market Overview
- Dubai House Prices in USD
- Dubai House Prices in Indian Rupees
- Are House Prices Falling in Dubai?
- Dubai House Prices Forecast
Dubai Housing Market Overview
Dubai is a major global city and a hub for business and tourism in the Middle East. Its housing market has undergone significant growth and development over the past several decades, particularly since the early 2000s.
The UAE saw 88,028 home sales in the year to November, a significant 46% increase from the 60,258 transactions reported in 2021 and 38% higher than the previous market top of 63,806 sales witnessed in 2013, according to the property portal.
Dubai House Prices in USD
In Dubai, a house typically costs $760,000. Everyone can afford to own a home because of Dubai's inexpensive housing prices.
According to Property Monitor, the Cavendish Maxwell real estate analytics platform, yearly home price growth in Dubai decreased by 6.8% while prices fell 1.4 percent month over month. The index also revealed that Dubai property prices fell by 4.4% from the prior quarter in the three months leading up to November. Since September 2015, the prices of apartments and villas/townhouses have decreased by 12 and 14 percent, respectively, according to the Home Price Index.
Learn more about the prices of properties in Dubai.
Dubai House Prices in Indian Rupees
As of February 2023, the average house price in Dubai is around AED 3.3 million according to data from property consultants, Knight Frank. This is equivalent to approximately INR 254 million based on the current exchange rate of 1 AED to 7.74 INR. In other words, 62,038,000 Indian rupees were calculated from the preceding figure.
However, it's important to note that house prices in Dubai vary widely depending on several factors such as location, type of property, and level of luxury. The prices could be lower or higher than the average, depending on the specific property and market conditions at the time of purchase.
Learn more about the prices of apartments in Dubai.
House Prices in Dubai Palm Island
Dubai's Palm Jumeirah is a man-made island located off the coast of Dubai and is known for its luxurious homes, hotels, and resorts. House prices in Palm Jumeirah vary widely depending on several factors such as location, type of property, and level of luxury.
Several people expressed skepticism when Dubai's Palm Jumeirah was first unveiled because it seemed impossible to create a vast artificial archipelago in the shape of a palm tree. This Dubai landmark has remained the industry benchmark for waterfront construction for the past 20 years.
Residents can relax and refresh all year long on the white, sandy beaches along the Palm's edge, and boating and water activities are widely available. Within the boundaries of this uniquely formed island, countless five-star resorts and hotels provide what seems like a limitless variety of exquisite dining, nightlife, and entertainment options. From $300,000 to more than $25 million, Palm Jumeirah's prices range.
House Price in Dubai Marina
Dubai Marina is a waterfront community that offers a mix of residential and commercial properties. House prices in Dubai Marina vary depending on the location, size, and level of luxury of the property. In Dubai Marina, there are thousands of residences with prices ranging from AED 478,000 to AED 20,000,000.
It's important to note that these prices are estimates and may vary depending on the specific property and market conditions at the time of purchase. It's recommended to conduct thorough research and seek professional advice before making any investment decisions.
House Prices in Dubai Hills
Dubai Hills Estate is a master-planned community that offers a mix of residential properties, retail outlets, and recreational facilities. House prices in Dubai Hills Estate vary depending on several factors such as location, type of property, and level of luxury.
A six-bedroom home in Dubai Hills, United Arab Emirates, costs AED 95 million (USD 25.86 million), while a studio costs AED 719,000 (USD 196,000). The price of a tiny three-bedroom villa is merely AED 2.69 million (USD 732,500).
Are House Prices Falling in Dubai?
According to one of the largest real estate consultants in the city, residential property prices in Dubai are predicted to expand more slowly in 2023 following a record year that witnessed a more than 60% increase in the total number of units sold.
Dubai's real estate market boomed in 2020 as wealthy purchasers bought up luxury apartments and it reopened during the pandemic before most big cities, reviving a sector that had been stagnant since the 2014–15 oil price crisis.
Dubai House Prices Forecast
Real estate market forecasts for Dubai are subject to a range of economic, political, and social factors, which can affect market conditions in unpredictable ways. However, based on the information available up to September 2021, there were indications that the Dubai real estate market was beginning to recover from the impact of the COVID-19 pandemic, with prices stabilizing and showing some modest growth in some areas.
According to new data, Dubai's thriving real estate market is expected to expand by 46% in the coming year. Realiste data shows that over the last 12 months, property prices in Dubai increased by 20–40%. Many more locations experienced an improvement. For instance, the Trade Center First increased by 210 percent and the Palm Jumeirah by 59%.
Own a Wonderful House in Dubai at the Best Price with Imtilak Global
At Imtilak Global, we work hard to assist our clients in securing profitable bargains when purchasing real estate in the UAE. We offer comprehensive services that lessen the stress of red tape and paperwork associated with purchasing and selling real estate thanks to our skilled work team and lawyers.
Edited by Imtilak Global ©
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