24 May
24May

Overview

The first quarter of 2024 has shown fluctuating trends in the real estate market for Elysian Mansions located in Tilal Al Ghaf, Al Hebiah Fourth. This report aims to provide a comprehensive analysis of the market performance, focusing on price per square foot and sales volume.


Price Per Square Foot

The price per square foot has experienced some variations throughout the first quarter of 2024. The trends are as follows:

July 2023: AED 1,700 per sqft
January 2024: AED 2,400 per sqft
March 2024: AED 2,200 per sqft
May 2024: AED 2,000 per sqft

The data shows a peak in January 2024 with prices reaching AED 2,400 per square foot, followed by a slight decline in the subsequent months, ending at AED 2,000 per square foot in May 2024. This indicates a significant increase from July 2023, but with some decrease towards the end of the quarter.

Sales Volume

The sales volume for Elysian Mansions has remained constant throughout the period from July 2023 to May 2024, with a steady number of transactions recorded:

From January to March: 1 transaction each month

This stability in sales volume indicates a consistent demand for properties in this area, despite the fluctuations in the price per square foot.


Sales Performance Summary

The overall sales performance for Elysian Mansions during Q1 2024 reflects the following metrics:

Median price per sqft: AED 2,050 (a decrease of 1% YoY)
Median price: AED 19,550,000 (a decrease of 6% YoY)
Total transactions: 5 (a decrease of 95% YoY)

Property Sales History

A detailed look into the property sales history reveals significant transactions:

May/7/2024: AED 20,363,200 at AED 2,046 per sqft for a 9,955 sqft plot.
Mar/19/2024: AED 19,300,000 at AED 2,166 per sqft for a 8,913 sqft plot.
Jan/23/2024: AED 24,000,000 at AED 2,449 per sqft for a 9,800 sqft plot.
Jul/5/2023: AED 19,000,000 at AED 1,670 per sqft for a 11,380 sqft plot.
Jun/20/2023: AED 19,550,000 at AED 1,969 per sqft for a 9,930 sqft plot.

These transactions highlight both the high-value nature of properties in this area and the significant variations in price per square foot depending on specific property characteristics.


Conclusion

The real estate market for Elysian Mansions in Tilal Al Ghaf, Al Hebiah Fourth, has demonstrated resilience with fluctuating but overall strong price per square foot values and consistent sales volume. This market remains attractive for high-value real estate investments, with properties showcasing significant worth and demand stability.



This report is prepared based on data gathered from DXB Interact and aims to provide a comprehensive overview of the market trends for informed decision-making. For any queries or further details, feel free to reach out.



Disclaimer: This report is for informational purposes only and should not be considered as financial advice. Market conditions can change, and it is recommended to consult with a real estate professional before making any investment decisions.

Copyright © 2024 All rights reserved - Serene Nests