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1. Definition of the area and data structure
According to DLD data, Binghatti Mirage is located in Al Barsha South Fourth and belongs to the Jumeirah Village Circle master project. All figures and comparisons below are strictly based on this verified data.
2. Market activity and sales dynamics
Binghatti Mirage is characterised by high liquidity: over the past 12 months, 18 transactions for 1-bedroom apartments in the building have been registered, and more than 40 over the last two years. The unit sizes are in line with market standards for 1-bedroom apartments (mainly 56–74 m²), with prices per unit ranging from 435,000 to 1,050,000 AED and price per m² ranging from 6,600 to 14,100 AED.
Average price per square metre dynamics for 1-bedroom apartments:
– In 2021 — 7,800–8,200 AED/m².
– In 2022 — growth to 8,200–8,700 AED/m², consolidation in the 8,200–8,700 AED/m² range.
– In 2023 — further growth to 8,500–10,100 AED/m².
– In 2024 — a stable range of 9,800–11,150 AED/m².
This reflects a positive trend: the average price per m² increased by more than 40% from 2021 to 2024. There is also internal heterogeneity (a spread from 7,000 to 14,000 AED/m²), driven by floor level, views, and layouts.
The transaction volume and its stable distribution over time indicate steady buyer demand, including from investors.
3. Comparison with Al Barsha South Fourth
Over the past 12 months, the average sale price for 1-bedroom apartments in Al Barsha South Fourth has been significantly higher: 14,315 AED/m² (based on more than 10,000 transactions in the area — extremely high liquidity).
Average price per m² dynamics for the area:
– In 2021–2022: 7,900–9,500 AED/m², comparable to the individual asset.
– In 2023 — a sharp increase to 10,800–12,300 AED/m².
– In 2024 — 12,500–12,900 AED/m², with growth to 15,000 AED/m² by the end of 2025.
Thus, Binghatti Mirage is currently trading at approximately a 20–25% discount to the average market value of 1-bedroom apartments in the area.
4. Rental rate analysis
In the DLD database, over the past 12 months there have been no confirmed rental contracts for 1-bedroom apartments either in Binghatti Mirage or in the Jumeirah Village Circle master project. This is common for new buildings that have been handed over relatively recently, where the number of long-term rental transactions is still insufficient for meaningful statistics.
At the area level (Al Barsha South Fourth, all residential apartments), the average rental rate over 12 months amounted to 1,028 AED/m²/year (based on more than 26,000 transactions), while quarterly rental dynamics show growth from 750–850 AED/m² at the beginning of 2023 to 950–1,070 AED/m² by the end of 2024.
5. Yield assessment and fair investment price
– Average transaction price in the building over 12 months: 11,405 AED/m².
– Average price in the area: 14,315 AED/m².
– Area rental rate (for all apartment types): 1,028 AED/m²/year.
Indicative potential gross yield for an investor entering the market today:
– For the area: 1,028 / 14,315 ≈ 7.2% per annum (gross).
– For the building when buying at the average price and achieving the area-level rent: 1,028 / 11,405 ≈ 9.0% per annum (gross).
Net yield (taking into account entry costs of ~7%): ROI_net ≈ 9.0% / 1.07 ≈ 8.4%.
Fair investment price range for a 7–8% annual yield at the area’s average rental level:
– 1,028 / 0.08 = 12,850 AED/m² (at 8%)
– 1,028 / 0.07 = 14,685 AED/m² (at 7%)
The current average asset price (11,405 AED/m²) is below the fair investment range for the area, which increases the investment appeal of the property for income-focused investors.
6. Liquidity and outlook
The asset demonstrates stable liquidity and a consistent transaction volume. Both the area and the building show positive price dynamics. The price discount to the area average makes Binghatti Mirage an attractive entry point for both investors and end users, especially if future confirmation of rental rates secures an actual yield at 8% or higher.
7. Key limitations of the analysis
– There are no registered DLD rental contracts for the building and the master project; all ROI estimates are based solely on area-wide average levels and do not reflect the actual situation in Binghatti Mirage.
– As liquidity and rental activity in the building increase, there may be a trend towards convergence of its price per m² with the wider area.
Conclusion:
Binghatti Mirage is a dynamic, liquid product currently trading at a 20–25% discount to the area. The prospect of further price growth remains as the residential stock matures. An investor purchasing an apartment at the current average price theoretically secures a yield above the area average. However, the absence of confirmed rental contracts for the building is a key informational risk: actual rental performance may differ.
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