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1. Area definition and data structure
Actual location of Sonate Residences by Condor:
– District according to DLD: Al Barsha South Fifth
– Master project: Jumeirah Village Triangle
– Data checks show that transactions for 1-bedroom apartments (1BR) are recorded exactly in this district/project, which matches the official DLD structure.
For 1BR sales in Sonate Residences by Condor, 105 transactions have been recorded over the past 5 years; for rentals in the building or master project there are no recorded leases in DLD. The entire rental rate and yield calculation block will therefore be based only on data for Al Barsha South Fifth, as permitted by the methodology.
2. Transaction and price dynamics
Frequency and dynamics of transactions (sales)
– For Sonate Residences by Condor (1BR), sales picked up starting from Q2 2024, with the peak in Q4 2024 (43 transactions). Sales continue into 2025.
– The average price per sq.m in the building from spring 2024 to the end of 2025 is in the range of 13,300–14,800 AED/m², with moderate growth by the end of 2025.
Price per m² dynamics by area (Jumeirah Village Triangle, Al Barsha South Fifth, 1BR)
– The area has shown a strong increase in average price per m² from 7,000–8,000 AED/m² in 2020–2021 to a peak of 16,000–17,000 AED/m² in the second half of 2025.
– A substantial rise has been observed since summer 2023, when average levels in the area jumped sharply from ≈11,000–15,000 AED/m² to 15,000–17,000 AED/m² by the end of 2025.
Price distribution and levels
– Over the last 12 months, the average DLD price for a 1BR in Sonate Residences by Condor is about 14,400 AED/m².
– Over the same period, the average 1BR level in the area/master project is higher: around 15,650 AED/m².
3. Rental analysis and yield calculation
Rent in the building and the area
– There is no rental data in DLD specifically for Sonate Residences by Condor or the entire project (0 contracts for 1BR).
– Large-scale rental activity (13,800+ contracts over 5 years) is recorded at the Al Barsha South Fifth district level.
– The average rental rate for all apartments in the district according to DLD over the last 12 months is 940.8 AED/m² per year.
Rental rate dynamics in the area:
– In 2021–2022, rents were stable: 400–550 AED/m².
– From 2023, there has been a sharp increase, up to the current 900–1,000+ AED/m² per quarter in the second half of 2024 – early 2025.
4. Current yield levels and fair price range for an investor
Brutto ROI and benchmarks:
– Brutto ROI for Al Barsha South Fifth over the last 12 months: rental rate 940.8 AED/m² with a purchase price of 15,650 AED/m² (area):
– Brutto ROI for the area ≈ 6.0%.
– Brutto ROI for the building cannot be calculated, as DLD has no valid rental transactions for this building in the relevant period.
Net ROI (adjusted):
– Taking into account standard transaction costs (7–8% of the purchase price), the equivalent net ROI for the area is at the level of 5.6–5.7% per annum.
Fair price range for a target yield of 7–8%:
– For the area: to achieve 7% per annum, the “investment fair” purchase price based on current rents would be 11,760–13,440 AED/m².
– Actual current price levels in the building (14,400 in closed deals) and in the area (15,650) are above the fair level for an investor targeting a 7–8% annual yield; to reach the target ROI, a discount to market of 10–20% from current prices is required.
5. Liquidity and outlook
– The transaction volume in the building over the past year and a half is high (more than 100 sales for 1BR alone).
– The area is developing dynamically, with stable transaction activity in both sales and rentals (tens of thousands of contracts).
– Over the past 3 years, there has been a sharp increase in both prices and rents. We are now seeing stabilization and partially overheated sale price levels that are not fully supported by rental yields.
– For an investor: entering at current deal prices in Sonate Residences by Condor and JVT will deliver a yield below the 7–8% market benchmark without a substantial discount to current prices; liquidity is high, but investment appeal for passive income is lower than Dubai’s historical averages.
Conclusion: for an active venture investor/flipper, the asset is attractive due to deal-making potential and capital appreciation; for a passive income-focused investor, a purchase is justified ONLY with a substantial discount (10–20%) to the current market price.
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