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1. Definition of the area and data structure
Actual location: According to Dubai Land Department (DLD), the building City Walk Northline 1 is located in the Al Wasl area and is part of the City Walk master project. For the analysis, we used mapping by building name, project, master project and area.
Data structure: The database for 2-bedroom apartments (2BR) in City Walk Northline 1 contains 48 recorded transactions; the first data appears from April 2024 (sales data closest to the current date). No rental contracts could be identified for the specific building, project or master project (City Walk Northline 1/City Walk); detailed rental information is available only at the Al Wasl area level.
2. Sales price dynamics and levels
2-bedroom apartments in City Walk Northline 1 show the following average price per square metre (transactions up to the current date):
– Q2 2024: 29,495 AED/m² (40 transactions — the main volume of primary sales)
– Q3 2024: 29,645 AED/m²
– Q2 2025: 34,423 AED/m² (isolated transactions)
– Q3 2025: 29,356 AED/m² (isolated transactions)
The average price over the last 12 months based on transactions in the building is 31,889 AED/m². The transaction volume in the building indicates solid initial demand (the main deals are recorded in 2024).
For comparison: similar apartments in Al Wasl (considering residential units, property type Flat) over the last four quarters show a gradual increase in the average price per m²:
– Q2 2024: 27,394 AED/m² (215 transactions)
– Q3 2024: 27,483 AED/m² (278 transactions)
– Q4 2024: several anomalous transactions (data is distorted — likely upload errors); we exclude this quarter from average values.
– Over the last 12 months, the average price for 2-bedroom apartments in Al Wasl is 54,394 AED/m² (anomalously high, likely due to a few premium transactions; the real market level based on regular dynamics is in the range of 27,000–31,000 AED/m²).
3. Rental market analysis
For the building City Walk Northline 1, for the City Walk master project, and for 2-bedroom apartments within them, there are no rental records in the DLD database (not a single contract). This means that either publication of contracts is delayed (new building), or the rental market is only starting to form, or some agreements are registered under different names / not registered at all.
Therefore, we provide rental statistics for the Al Wasl area for all apartments (Residential), which reflects the situation in the local market:
– Over the last 12 months, the average annual rental rate in the area was 1,217 AED/m².
– Quarterly dynamics: in Q2–Q3 2024 the average rate was around 1,100–1,120 AED/m². In Q2 2025 — 1,188 AED/m²; in Q3 2025 — 1,360 AED/m² (a steady upward trend).
4. ROI calculation
– For the specific building (City Walk Northline 1), it is not possible to calculate yield due to the absence of actual DLD rental data.
– For the Al Wasl area, the gross yield, calculated based on the latest rental rates (1,217 AED/m²) and the average price per m² (we use a stable average of 27,000–32,000 AED/m²), is:
– ROI_brutto (for the area) = 1,217 / 31,889 ≈ 3.8%
– Net yield, taking into account transaction costs (initial expenses of about 7–8%):
– ROI_net ≈ 3.5% / 1.07 ≈ 3.6%
The range of investment-fair prices for a target net yield of 7–8% would be:
– Fair price at 7% yield: 1,217 / 0.07 = 17,386 AED/m²
– At 8% yield: 1,217 / 0.08 = 15,213 AED/m²
Current market prices are significantly above the range that would provide 7–8% per annum, so investment interest is more likely to be driven by long-term capital appreciation rather than pure rental yield.
5. Conclusions and outlook
– The building is highly liquid: 48 transactions for 2-bedroom apartments have been recorded since spring 2024, with the main handover being recent.
– Launch prices are in line with and slightly above the Al Wasl market level, which is typical for new buildings in high-demand areas.
– Rental rates in Al Wasl continue to grow, but remain far behind the pace of sales price growth.
– A comparison of market values and achievable rental rates in the area shows that the actual yield for an investor fluctuates around 3.5–4% per annum, which is below the typical target yield for a buy-to-let investor in Dubai.
– To achieve a 7–8% yield at current rental rates, a substantial discount to current market prices is required (at least 30–40%).
– In the absence of building-specific rental data, it is not possible to make a guaranteed conclusion about the yield in City Walk Northline 1 itself. Investors should focus on capital appreciation and the location’s prospects rather than on current cash flow.
– Overall area dynamics are positive: demand is high, liquidity is strong; however, buy-to-let success depends on the entry price and the ability to rent out the property at rates significantly above the area average (usually achieved through unique features/branding of the complex).
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