1. Definition of the area and data structure
Actual location: WEST AVENUE belongs to the Marsa Dubai area and is situated within the Dubai Marina master project, as confirmed by DLD data. The volume of information is sufficient both for analysis of the building itself and for constructing an area benchmark for Marsa Dubai. For 1-bedroom apartments, the DLD database records 160 sales in this building and almost a thousand active rental contracts within the project.
2. Analysis of sale transactions over the last 3–5 years
WEST AVENUE shows stable market activity: in different quarters of 2020–2024, between several and up to 16 transactions per quarter are concluded for 1-bedroom apartments, which indicates good liquidity of the asset. In 2020–2021 the average price per square metre was in the range of 12,000–16,000 AED/m², followed by a confident upward trend: by 2023 prices reached 16,300–18,300 AED/m², and in the most recent quarters the averages are around 18,300–19,300 AED/m².
On average across Marsa Dubai, price growth for 1-bedroom apartments over this period was even more pronounced: from 14,000–16,000 AED/m² (2020) to 24,000–30,000 AED/m² (2023–2024), with some quarters showing spikes even higher.
Over the last 12 months:
– Average price per m² in WEST AVENUE (1-bed) — about 14,870 AED/m².
– In Marsa Dubai — about 26,380 AED/m².
Thus, the building is trading at a substantial discount (approximately -44%) to the area average for apartments of a similar type.
3. Dynamics and structure of the rental market
Direct rental contracts with an explicit “1 bed room” indication for WEST AVENUE could not be isolated (which is typical for some off-plan projects), but across the entire WEST AVENUE building almost a thousand rental transactions are concluded annually, demonstrating the tower’s strong appeal to tenants.
The average annual rental rate per m² (for all residential apartments in WEST AVENUE) over the last 12 months amounted to 1,431 AED/m².
For Marsa Dubai, the average level across all contracts is 1,317 AED/m².
Quarterly dynamics for the building are also very illustrative: from 900–1,100 AED/m² in 2020, rates have been steadily rising and are now holding at 1,350–1,450 AED/m² in 2024. The area average is also growing confidently, remaining slightly below WEST AVENUE, although the absolute values are quite close.
4. Analysis of returns (ROI) and fair price range
Gross ROI, calculated based on average annual rental rates and sale prices over the last 12 months:
– For WEST AVENUE: 1,431 / 14,870 ≈ 0.096, i.e. about 9.6% gross yield.
– For Marsa Dubai: 1,317 / 26,380 ≈ 0.0499, i.e. about 5.0% gross yield.
Adjusting for standard transaction costs (7–8% on entry plus additional minor expenses), the indicative net yield will be:
– For WEST AVENUE: ≈ 8.9% net.
– For Marsa Dubai — about 4.6–4.7% net.
Fair price range for an investor/seller targeting a 7–8% annual yield:
– For WEST AVENUE: 17,900–20,400 AED/m² (based on a 1,431 AED/m² rental rate).
– The actual average sale price over the past year is significantly below this level (14,870 AED/m²), meaning WEST AVENUE currently delivers any desired yield level for an investor, far exceeding the typical city benchmark.
– For Marsa Dubai, the fair range is 16,500–18,800 AED/m² (while actual deals are closing at 26,380 AED/m²), which means that at the area level current buyers are overpaying relative to a 7–8% yield target if one relies solely on objective rental rates.
5. Overall liquidity and outlook
Both the building and the area show high transaction volumes for sales and rentals. WEST AVENUE cannot be described as illiquid: it is popular with both investors and tenants, deals are concluded almost every month, and the price structure is fairly stable. The Marsa Dubai/Dubai Marina area remains one of the most dynamic locations in the city.
3–5 year outlook — there is potential for an outpacing stabilisation/growth specifically in rental income in WEST AVENUE, while the capital value is already attractively positioned versus the area average.
Conclusion: a 1-bedroom apartment in WEST AVENUE at the moment is one of the few high-yield options against the backdrop of a rapidly appreciating area. It offers an investor a net return noticeably above the Dubai average, as well as protection from a significant drop in liquidity thanks to traditionally strong demand in this location.
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