As we move through 2024, Tilal Al Ghaf continues to stand out as a premier residential community in Dubai, characterized by luxury living and sustainable development. The first quarter of 2024 has shown notable trends and dynamics in property transactions, prices, and market activity. This report delves into the key statistics and insights from Q1 2024.
The first quarter of 2024 for Tilal Al Ghaf displayed a dynamic market with significant fluctuations in sales volume and price per square foot. This period reflects both a cautious start to the year and a robust recovery in the subsequent months.
- January 2024: Sales volume dropped to 47, a significant decrease from December 2023’s peak of 74.
- February 2024: The market rebounded with a 30% increase in sales volume, reaching 61.
- March 2024: Continued growth in sales volume to 69, with stable price per square foot at AED 1,900.
Premium Transactions: Notable high-value sales in Amara, Elan, and Serenity Mansions communities, showcasing strong demand for luxury properties.
January 2024
- Sales Volume: 47 units sold.
- Price per Square Foot: AED 1,800.
• Market Activity: The market experienced a post-holiday slump, with lower transaction volumes. However, the price per square foot remained steady, indicating stable property values.
• Key Transactions: High-value off-plan villas in Amara and ready villas in Elan, maintaining interest in these sought-after communities.
February 2024
• Sales Volume: 61 units sold, a 30% increase from January.
• Price per Square Foot: AED 1,900.
• Market Activity: February saw a resurgence in buyer confidence and market activity, driven by new project launches and favourable financing options.
• Key Transactions:
• Amara Community: Off-plan villas with prices ranging from AED 1,800 to AED 2,090 per square foot.
• Elan Community: Ready villas averaged AED 1,920 per square foot.
• Serenity Mansions: Plots sold for up to AED 3,530 per square foot.
March 2024
- Sales Volume: 69 units sold, a 13% increase from February.
• Price per Square Foot: AED 1,900.
• Market Activity: The upward trend continued, supported by investor confidence and strong demand for both off-plan and ready properties.
• Key Transactions:
• Amara and Aura Communities: High demand for off-plan villas with expansive layouts.
• Elan Community: Continued strong resale values, highlighting its family-friendly appeal.
• Serenity Mansions: Premium plots commanding high prices, reflecting their luxury status.
- Resilient Market: The stability in price per square foot and increasing sales volume reflect a balanced and resilient market.
- Investment Opportunities: The steady demand for off-plan developments and ready villas suggests lucrative opportunities for investors.
- Luxury Demand: High-value transactions in premium communities underscore Tilal Al Ghaf’s appeal to luxury buyers.
- Future Outlook: Anticipate continued interest in off-plan and ready properties, bolstered by ongoing infrastructure improvements and new project announcements.
Amara Community:
• Villa No. TAG-AMR-049: AED 1,990 per sqft, 1st Sale, Sold for AED 7,400,000.
• Villa No. TAG-AMR-046: AED 1,910 per sqft, 1st Sale, Sold for AED 7,100,000.
Elan Community:
• Villa No. B402: AED 1,520 per sqft, Resale 93%, Sold for AED 3,300,000.
• Villa No. A146: AED 1,810 per sqft, Resale 112%, Sold for AED 2,850,000.
Serenity Mansions:
• Plot No. TAG-SER-001: AED 2,520 per sqft, 1st Sale, Sold for AED 28,164,000.
• Plot No. TAG-SER-002: AED 3,530 per sqft, 1st Sale, Sold for AED 57,054,000.
The first quarter of 2024 for Tilal Al Ghaf has demonstrated the market’s resilience and appeal, especially in the luxury segment. As we move into Q2, the market is poised for continued growth, supported by strong investor interest and positive market sentiment.
This report provides a concise overview of the key market trends and transactions in Tilal Al Ghaf for Q1 2024.
Disclaimer: This report is based on data from DXB Interact and is for informational purposes only. Always consult with a professional advisor before making real estate decisions.