Browse
related articles
The first step in any buying decision is always location. Within Dubai there are many desirable areas to live, or for businesses, places to set up.
The Better Homes average price index highlights how much different developments cost, both in total price and per square foot. It looks at apartments, villas and commercial space. What is obvious from first viewing is just how expensive much of Dubai has become, although there are still developments that will suit those on a tighter budget.
In particular, it is still possible to find apartments for under Dhs500,000. Although these are typically in areas considered on the outskirts of Dubai, as the city spreads they are no longer always considered isolated or far away. Equally, some that were once considered far from the town centre are now close to the heart of new Dubai, such as the Gardens and the Marina.
Villas
Families looking for villas are going to have to pay more at the low end, with prices around the Dhs2m - Dhs3m not unusual, and this will be for the smaller houses. If you fall at the other end of the pay scale though, you get the pick of the crop. The most expensive villa sold by Better Homes was one in Emirates Hills, costing an eye-popping Dhs56.1m. For properties in the Dhs5m to Dhs10m price band though, there is a wider choice of villas for sale.
That Dhs56.1m is dwarfed though, by the most expensive apartment, which cost almost Dhs132.4m - it's a prestigious address though, being Burj Dubai Downtown.
No surprises that DIFC and the new Burj Dubai developments are the most expensive places in Dubai for office space. To buy in DIFC can cost up to Dhs35.4m, although on average it is Dhs25.5m. No surprises that offices on Sheikh Zayed Road command a premium, but buying off-plan in up-coming developments such as City of Arabia off Emirates Road, Business Bay and Meydan are among some of the most expensive in Dubai at the top end.
The index doesn't break prices down to individual house sizes by room. Most properties in Dubai are advertised by their square foot size. To get an indication of the likely price of a property in any given area, multiply the standard deviation of price per square foot (a more accurate, adjusted average price) by the square foot of that property.
See average price index for all areas of Dubai
Dubai Villas
Dubai apartments
Dubai commercial and office space
The average price index
The information contained within this report was provided by Better Homes. The index provides minimum and maximum property sales prices along with size in square feet to act as a guide to the property size. Prices are based solely on recent transactions by Better Homes in each area and should therefore be used as a guide only. Average price is determined by calculating the total value of recent sales within each area and then dividing that figure by the total number of property sales. Standard Deviation of Price is an average of the prices of sold properties minus the highest and lowest values, to give a more accurate value. This is done because prices in some areas vary so much it can skew results, so extreme values are removed and then the average is recalculated, giving a better reflection of the average price in an area.
Staff Reporter
