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1. Definition of the area and data structure
Actual location: according to DLD, the BERMUDA VIEWS building belongs to the Al Hebiah Fourth area and the Dubai Sports City master project. All SQL queries confirm that the project and building filters in the open data are consistent.
Historical transaction data covers the period from early 2020 to the present. There are more than 150 unique sales transactions recorded for the building, and over 700 residential lease contracts in the database, which allows for a confident statistical analysis both for the building and for the wider area.
2. Liquidity and transaction dynamics for the building
Liquidity at BERMUDA VIEWS is high: from 2020 to the present the building has seen on average 7–12 sales transactions per quarter, with certain periods of heightened activity. In 2023 activity increased sharply (for example, 16 transactions in Q2 2023), and the trend continued in 2024 with a record 28 transactions in Q3.
Rental indicators are stable: on average 25–40 new contracts per quarter. The volume of listings and steady demand are confirmed by the regular turnover of leased apartments.
3. Price dynamics per square metre (sale)
For transactions with studio apartments (0-bedroom) in BERMUDA VIEWS since 2020, there has been a gradual, and in 2023–2024 an accelerating, increase in the average price per square metre:
– In 2020 the average price for studios was around 5,800–5,900 AED/m².
– In 2022 it increased to the 6,300–6,600 AED/m² range.
– In 2023–2024 the growth became more pronounced: from 6,800 AED/m² (Q2 2023) to 8,900–9,100 AED/m² over the last 12 months.
– For the last closed year, the average studio price in BERMUDA VIEWS is about 9,100 AED/m², which is below the area average.
For comparison, the average price in Al Hebiah Fourth for similar units over the last year is approximately 12,500 AED/m², which is 35% higher than in this building.
4. Rental dynamics and levels
Rents in BERMUDA VIEWS are also showing growth:
– In 2020–2021 the average rental rate in the building was 430–560 AED/m² per year.
– In 2022 it was around 500–530 AED/m² per year.
– In 2023 it accelerated to 540–650 AED/m² by quarter, and then in 2024 increased further to 710–760 AED/m².
– Over the last 12 months the confirmed average rate according to DLD is 758 AED/m²/year.
Across Al Hebiah Fourth, the average rental rate for the same period is 906 AED/m²/year, which is about 19% higher than in this building.
5. Yield (ROI) comparison and fair value range
Gross yield (ROI) for the building (based on price and rent over the last 12 months):
– For BERMUDA VIEWS: ROI_brutto ≈ 758 / 9,131 ≈ 8.3% per annum.
– For the area: ROI_brutto ≈ 906 / 12,477 ≈ 7.3% per annum.
Adjustment to “net” yield (taking into account associated costs of about 7% of entry price):
– ROI_net for the building ≈ 7.7% per annum.
– ROI_net for the area ≈ 6.8% per annum.
Investment fair price range (based on a target yield of 7–8% per annum using current rents):
– For the building (BERMUDA VIEWS): fair price range is 9,480 to 10,830 AED/m² (based on 758 AED/m² rent).
– The actual average price in the building (9,131 AED/m²) is currently SLIGHTLY below the lower bound of this range — there is upside potential in studio prices in this building if investors target a 7–8% annual yield.
– For the area, the fair price range is 11,330 to 12,950 AED/m², which roughly matches the current market level (12,477 AED/m²), i.e. within the “investment corridor”.
6. Conclusions on the outlook for the asset and the area
BERMUDA VIEWS is a liquid building with high turnover in both sales and rentals. It consistently trades at a discount to the area average in terms of both sale and rental prices, while delivering a high gross yield (8.3% per annum — above the area average).
Market dynamics indicate a confident increase in prices and rents over the past two years. If this growth pace continues, there remains further upside potential in capital values for investors.
Recommendation: the asset is suitable for yield-focused investment; at the current DLD price levels it DELIVERS a higher return than the area average and remains attractive even without expecting strong rental growth.
Risk factor: a significant outpacing of capital value growth over rental growth in the coming quarters may reduce ROI for new investors if rents do not rise in line with prices. The widening of this spread should be monitored.
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