This market report provides an analysis of the real estate trends in the Amara for the period from March to May 2024. The focus is on the median price per square foot, sales volume, and overall market performance based on the data gathered.
Key Metrics
Median Price Per Square Foot
- March 2024: 1,900 AED
- April 2024: 1,900 AED
- May 2024: 1,900 AED
Sales Volume
- March 2024: 21 transactions
- April 2024: 11 transactions
- May 2024: 60 transactions
Detailed Analysis
Price Per Square Foot
The median price per square foot for properties in the analysed areas has remained steady at 1,900 AED throughout the months of March, April, and May 2024. This stability indicates a consistent valuation of properties in these locations, suggesting a balanced market without significant price fluctuations.
Sales Volume
The sales volume showed a significant variation over the three months:
- In March 2024, there were 21 transactions.
- In April 2024, the number of transactions decreased to 11, indicating a temporary slowdown in market activity.
- In May 2024, the market rebounded with a sharp increase to 60 transactions, suggesting a surge in buyer interest or successful marketing and sales campaigns.
Market Insights
- Stable Pricing: The consistency in the median price per square foot indicates that the market is stable, with property values holding steady over the analysed period.
- Sales Fluctuations: The fluctuation in sales volume, with a dip in April followed by a significant increase in May, could be attributed to various factors such as seasonal trends, economic conditions, or new property launches attracting buyers.
- Buyer Activity: The sharp increase in transactions in May suggests strong buyer interest, potentially influenced by favourable market conditions or attractive property offerings.
Property Sales History (Selected Transactions)
1. TAG-AMR-PV33
- Date: 27 May 2024
- Sale Price: 7,775,000 AED
- Price per Sqft: 2,094 AED
- Size: 3,713 sqft
2. TAG-AMR-057
- Date: 27 May 2024
- Sale Price: 7,155,000 AED
- Price per Sqft: 1,818 AED
- Size: 3,936 sqft
3. TAG-AMR-PV36
- Date: 27 May 2024
- Sale Price: 7,679,000 AED
- Price per Sqft: 1,655 AED
- Size: 4,640 sqft
The selected transactions reflect a range of prices and property sizes, highlighting the diversity in the market offerings. The detailed sales history underscores the high demand and the varied investment opportunities available in these areas.
Conclusion
The real estate market in Amara has shown stable pricing and varying sales volumes from March to May 2024. The stability in price per square foot indicates a balanced market, while the fluctuations in sales volume suggest dynamic buyer activity influenced by multiple factors. Overall, the market remains robust, offering diverse opportunities for buyers and investors.
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.