Skip to content
1. Definition of the area and data structure
Actual location: SPICA has been confirmed by DLD as a building in Al Barsha South Fourth, within the master project Jumeirah Village Circle. All further comparative analysis is carried out for the Al Barsha South Fourth area.
For sales of 1BR apartments in SPICA since 2020, 15 transactions have been recorded, with the latest deals in 2024 and early 2025 (closest to the current date). For rentals, there is no data for the building, the master project, or the Jumeirah Village Circle area, even under the broadest filters for one-bedroom apartments. However, across Al Barsha South Fourth as a whole, the volume of rental contracts is very high (over 120,000 for the entire period).
2. Transaction dynamics and sale prices
Over the past 4 years, transactions with 1BR apartments in the building have taken place fairly regularly (e.g., 3 deals in Q4 2024, 4 deals in Q1 2023). The average price per m² in the building has increased: in 2020 it was 3,820 AED/m², and by 2023–2025 it had stabilized at 7,200–7,700 AED/m². In 2024 and early 2025 the current range is 7,300–7,700 AED/m².
Compared with the area: in Al Barsha South Fourth the average sale price per m² for 1BR apartments over the last 12 months was 14,310 AED/m², which is almost twice as high as in SPICA.
3. Analysis of the average price per m² over the last 12 months
SPICA (1BR): average purchase price per m² over the last 12 months — about 7,500 AED/m².
Al Barsha South Fourth (1BR): average price per m² over the last 12 months — approximately 14,310 AED/m².
SPICA is significantly cheaper than the area average for comparable apartment types.
4. Rental analysis
For SPICA, the Jumeirah Village Circle master project, and the area (for 1BR only), DLD shows no rental contracts matching the specified parameters (for all years). Therefore, it is impossible to objectively calculate the yield of SPICA based on the current market rent for 1BR apartments.
Across Al Barsha South Fourth as a whole, the average annual rental rate per m² (for all residential formats, regardless of layout) over the last 12 months is about 1,030 AED/m². By year, there is a steady upward trend: from 520–620 AED/m² in 2021–2022 to 1,030 AED/m² in 2024–2025.
5. ROI and assessment of investment potential
Since there is no rental data for SPICA or even for 1BR apartments in the area over the last 12 months, it is not possible to calculate the yield (ROI) for the specific building or for 1BR units in the area. When switching to the general area format (all apartments), we get the following averaged indicators: annual rent per m² over the last 12 months — 1,030 AED/m², average purchase price in the area — 14,310 AED/m².
For a typical “average” apartment: gross ROI in the area is about 7.2% per annum.
Taking into account standard entry costs (7–8% of the transaction amount), the adjusted net ROI is estimated at 6.7–6.8%.
The fair price range for a 7–8% annual yield in the area is 12,900–14,700 AED/m² (if based only on area-wide rents and prices). The actual price in SPICA is 2 times lower than the area average, but with a high probability the real rental rate for this particular building is also below the area average (due to signs of secondary stock and lower liquidity).
6. Liquidity and conclusions
Liquidity: 1BR apartments in SPICA are sold on a regular basis, but the building itself belongs to the lowest-priced segment of the area. There is no information on rentals, which may indicate low rental demand in this building or a specific resident profile (possibly long-term owner-occupiers).
Al Barsha South Fourth as a whole is very active, with consistently strong demand for both renting and buying apartments; prices and rental rates according to DLD are rising. For an investor, SPICA is attractive as a “below market” purchase-price opportunity, but the inability to verify actual rental yields via DLD statistics is a significant risk. This type of asset is more suitable for buyers counting on further capital appreciation rather than investors focused on fixed income.
7. Outlook
The area continues to appreciate, but the lack of rental data for SPICA does not allow us to speak about recurrent income here. Any realistic ROI and fair price ranges can only be calculated based on area-wide averages.
Related Articles
- ROI analysis of apartment in Binghatti Phoenix: DLD data and real deals
- Pros and Cons of Living on Palm Jumeirah: Property, Lifestyle and Investment in Dubai
- ROI analysis of apartment in Samana Park Views: DLD data and real deals
- ROI analysis of apartment in AURA by Grovy: DLD data and real deals
- ROI analysis of apartment in LIV MARINA: DLD data and real deals
