1. Definition of the area and data structure
Actual location: According to DLD, the building Chaimaa Avenue 2 belongs to the Al Barsha South Fourth area within the Jumeirah Village Circle master project. For the analysed unit, the type Studio (0BR) is used in line with DLD terminology.
The database for Chaimaa Avenue 2 (studio) contains:
– Sales: 33 transactions over the last 4 years.
– Rentals: 42 studio contracts over ~2 years (the sample includes only contracts with confirmed area and adequate price within DLD requirements).
2. Dynamics and level of market sales
Distribution and dynamics of transactions for Chaimaa Avenue 2 (studio):
– Launch of studio sales — end of 2021.
– Periods with recorded studio transactions: 2021 (3 deals), 2022 (13), 2023 (13), 2024 (4 so far).
– The average price per m² for studios in Chaimaa Avenue 2 by quarter ranged:
– In 2021–2022: 9,300–9,800 AED/m²,
– In 2023: fluctuations from 8,600 to 12,900 AED/m² (last quarter up to 12,900),
– In 2024: noticeable growth — the latest observation is around 15,400 AED/m².
– Over the last 12 months there have been no studio transactions in the building that would fall into a statistically significant DLD sample. Therefore, direct comparison of current deals at the building level is not possible.
– On average in Al Barsha South Fourth (studio): over 12 months there were 5,949 transactions, with an average purchase price of about 17,600 AED/m² (for equivalent types and sizes).
3. Rental analysis for the building and the area
For studio rentals in Chaimaa Avenue 2:
– Over the last 12 months, 11 studio rental contracts were concluded.
– The average rental rate for studios in the building: 1,145 AED/m²/year over the last year.
Benchmark for Al Barsha South Fourth:
– Studio data for the last 12 months — 6,986 contracts, average rental rate: 1,273 AED/m²/year.
– Thus, Chaimaa Avenue 2 is slightly below the district’s average rental level.
4. 3–5 year dynamics
– Chaimaa Avenue 2 shows positive price dynamics for studios: the initial 2021–2022 level was around 9,400–9,800 AED/m², in 2023 values started to move upward, and in 2024 the level exceeded 15,000 AED/m² (for individual transactions). However, the building still lags behind the district in terms of average price per m² based on transactions over the last 12 months.
– Al Barsha South Fourth demonstrates strong growth and liquidity dynamics — quarterly studio transaction volume has exceeded 1,000–1,400 in recent quarters, and the current district average is higher than in Chaimaa Avenue 2.
5. Comparison of current levels and ROI
– br Initial level (Chaimaa Avenue 2, studio):
– Transaction price per m² over the last 12 months: no recent deals — no current figures, but the last quarterly transaction was at 15,400 AED/m².
– Average rent in the building: 1,145 AED/m²/year (11 confirmed contracts).
– Approximate gross ROI based on the latest available values: 1,145 / 15,400 ≈ 7.4% (if guided by the last transaction price). A similar figure for the district (over the last 12 months): 1,273 / 17,600 ≈ 7.2%.
– Adjustment to net ROI taking into account expenses (7–8% entry costs): with 7.5% costs, net yield decreases to ~6.8–6.9%.
– Fair price range for a target 7–8% annual rental yield under current conditions (for the district): 1,145 / 0.08 ≈ 14,300 AED/m² (for 8%), 1,145 / 0.07 ≈ 16,360 AED/m² (for 7%). The current level of the last quarterly transaction is close to the upper boundary of this range.
6. Liquidity and outlook
– The asset’s liquidity is high: studio rental contracts are regularly concluded in Chaimaa Avenue 2, and market demand on the sales side has been confirmed in 2021–2024.
– The district as a whole is one of the most liquid and fast-growing in terms of transactions and rentals — high turnover and current market rates.
– Growth potential: given the gap between the current district average price and the latest transactions in the building, Chaimaa Avenue 2 does not command a premium to the district — the building’s price dynamics are positive (price growth), but further upside is constrained by the broader market trend in JVC.
– For a conservative investor, the current price and rental levels in Chaimaa Avenue 2 look fair: the building is not expensive relative to the market, gross yield is around 7–7.5%, and net yield after costs is about 6.8%. For a purchase aimed at resale or long-term leasing, this level is considered balanced for current JVC conditions.
– Conclusion: Chaimaa Avenue 2 (Studio) is a liquid asset with yields close to the district average. A purchase is possible without a premium; a discount is not required in an actively growing market.
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