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1. District definition and data structure
Actual location: according to DLD, Sobha Hartland Waves is located in the Al Merkadh district, within the SOBHA HARTLAND master project. The analysis focuses on two-bedroom apartments (2BR); the filter is clearly identified, and there is a sufficient number of matching records in DLD.
2. Number and dynamics of transactions
Over the entire history of Sobha Hartland Waves (2BR), there have been 268 transactions, which for a new and actively developing project indicates strong market activity. Transactions started in 2021: peak activity was recorded in 2022 (up to 37 deals per quarter), after which the current transaction volume has remained stable (around 10–20 deals per quarter in 2023–2024). This confirms the liquidity of the building in the context of the Dubai new-build market.
3. Dynamics of the average price per m²
For a 2BR apartment in Sobha Hartland Waves:
– In the first transactions (2021), the average price per m² was ~20,700 AED.
– In 2022, the trend remained stable with minor volatility around 20,700–21,700 AED per m².
– In 2023, there was a short-term spike (up to 23,700 AED/m² in Q1), which then corrected to approximately 20,000–21,000 AED/m².
– Over the last 12 months, the average transaction price was 19,927 AED/m².
– A correction is visible after the strong demand in 2022; the current price level remains stable, with a possible consolidation around 19,500–20,500 AED/m².
For the SOBHA HARTLAND master project (Al Merkadh, 2BR):
– In 2020–2021, the average price in the area was lower (13,500–17,500 AED/m²), rising in 2022–2024 to 19,500–20,500 AED/m², which fully matches the current statistics for the building.
– Over the last 12 months, the area-wide average stands at 20,068 AED/m², meaning that Sobha Hartland Waves is priced by the market in line with the overall area level, without a clear premium or discount.
4. Rental prices and yield (ROI)
As of the analysis date, DLD contains no valid rental records specifically for 2BR units in Sobha Hartland Waves and none at all for SOBHA HARTLAND (there is not a single active DLD contract for these apartments). A correct analysis can only be performed at the Al Merkadh district level and for the residential segment as a whole, without a 2BR breakdown.
In Al Merkadh, the overall average annual rent per m² over the last 12 months was 1,534 AED/m². The 2022–2024 dynamics for the district show steady growth: from 930–1,200 AED/m² in 2022 to 1,350–1,550 AED/m² in the second half of 2023 and the first half of 2024.
5. Comparison and ROI calculation
For an investor, it is important to align current purchase and rental levels:
– Purchase price of a 2BR in Waves: 19,927 AED/m² (last 12 months for the building), 20,068 AED/m² (for the district).
– Average rent in the district: 1,534 AED/m² (last 12 months).
Brutto ROI (approximate, district level, all apartments): 1,534 ÷ 19,927 = 7.7% per annum.
Adjustment to Netto ROI (taking into account entry costs of ~7%): 7.7% ÷ 1.07 ≈ 7.2% per annum.
“Fair price for an investor” range at a target yield of 7–8%:
– Lower bound: 1,534 ÷ 0.08 = 19,175 AED/m²
– Upper bound: 1,534 ÷ 0.07 = 21,914 AED/m²
The current market transaction price (19,927 AED/m²) falls exactly within this range, which means the asset is being sold at a fair income-based price, and no additional discount is required to achieve the target 7–8% annual yield. This confirms the investment rationale of the project for a stable portfolio investor.
6. Outlook and liquidity
Transactions are stable, and volumes are high both for the building and for the district — liquidity is excellent for a project that has only recently entered the market. The district shows a prolonged increase in rental rates and moderately stable price dynamics, combining phases of correction and growth. This makes the location and the asset suitable for long-term investment (3–5 years), balancing yield and capital protection.
Limitations:
There is no rental data specifically for Sobha Hartland Waves and for 2BR units in SOBHA HARTLAND — all numerical rent_psm and ROI values are calculated only at the Al Merkadh district level. This is a typical situation for new buildings: key rental contracts will appear in DLD statistics over the next 1–2 years of operation.
Conclusion:
Sobha Hartland Waves (2BR) is a highly liquid investment asset with a transparent transaction history. The current yield of around 7–7.5% per annum matches portfolio investor expectations for modern Dubai districts. The indicative “fair range” of prices and rental rates is confirmed by DLD data for the last 12 months. The potential for further rental growth preserves upside for yield. It is strongly not recommended to buy at prices significantly above the market without a clearly confirmed scenario of additional income.
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