Emirates Hills Real Estate Market Report Q1 2022
Emirates Hills is one of Dubai’s most established neighbourhoods, and has distinguished itself as the city’s most elite residential area. That withstanding, it has a much more mature market compared to other residential areas in Dubai. As such, the market can move at a slower pace to some of the other neighbourhoods, with a much longer market realisation period.
Although year on year, prices have decreased, average price per square foot has gone up. This can be explained by the fact average property sizes have gone down, which shows that buyers are buying smaller properties. As a general trend throughout the city, buyers are looking for more modern contemporary properties in Dubai. This has meant that demand for Emirates Hills properties, which tend to be a bit older and feature more traditional architectural styles, has not been as high as some of the newer communities.
This presents a unique investment opportunity for buyers and current owners. If buyers enter the market now, and renovate their property, there is a good opportunity to gain a high return on investment either through selling the property after upgrading, or through renting the property out. Overall, there is still definite demand for high end, luxury properties in Dubai, and Emirates Hills properties that enter the market at a fair price can and do transact quickly. However, owners should take advantage of current market trends in order to realise the full potential of their properties.
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