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Dubai property prices › Month by month › February 2010

The Dubai property market in February 2010

In February 2010 the Dubai Land Department registered 2,048 residential sales worth AED 2.9bn — 6% fewer than in February 2009, when it registered 2,170, and 19% more by value. Most were completed homes: 1,250, against 798 off-plan. A completed home changed hands at a median AED 1.00M, AED 736 a square foot — 35% more a foot than in February 2009.

Sales registered
2,048
−6% on February 2009 (2,170)
Value
AED 2.9bn
+19% on February 2009 (AED 2.4bn)
Off-plan
798
39% of the month · 1,250 completed
Completed homes, median
AED 736
per sq ft · AED 1.00M a home · +35% on February 2009

The month in its year

February 2010 against the twelve months before it

Residential sales registered, by monthOff-planResale2,048 in February 2010
2,170
2,048
F2009MAMJJASONDJ2010F

2,048 sales in February 2010, against 2,170 in February 2009. Off-plan was 39% of the month, against 12% a year earlier.

Completed homes

What a completed home sold for in February 2010

Resales of completed homes, by layout — a layout prints at ten sales. Off-plan is kept out: a launch price is a developer’s schedule, not a market, and the month’s off-plan sales have their own line beside the table.

LayoutSalesMedian priceAED/sqft
Studio194AED 320K666
1 B/R381AED 625K761
2 B/R319AED 1.19M795
3 B/R169AED 2.08M838
4 B/R33AED 3.30M985

Medians of what buyers paid at transfer, never an asking price. Each is a month’s sales, so a layout’s figure moves with which buildings happened to sell as well as with prices; the year-long reading of the same register is on Dubai property prices.

Registration days
19, 1 February to 25 February. The busiest was 15 February: 225 sales, AED 333m.
Off-plan
798 sales at a median AED 832 a square foot — its own line, never blended into the completed-home medians.
Villas
210 of the 2,048, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
184 registered under the Land Department’s payment-plan and delayed-sale procedures.

Where the sales were

The busiest communities, and the dearest

The communities with the most sales registered in February, launches and resales together; beside them the dearest, by the median price of a square foot of completed home at ten resales or more.

Busiest communitySalesOff-planCompleted AED/sqft
International City323143557
Dubai Marina304139826
Jumeirah Lake Towers25213784
Living Legends175175—
Jumeirah Village Circle143143—
Dubai Production City (IMPZ)98741,022
Jumeirah Beach Residence9201,006
Palm Jumeirah8714921
Downtown Dubai8081,418
Discovery Gardens690645
Dubai Sports City6415740
Business Bay408977
Majan3030—
The Springs270635
Greens200666
Dearest communityAED/sqftResales
Downtown Dubai1,41872
Dubai Production City (IMPZ)1,02224
Jumeirah Beach Residence1,00692
The Views98515
Business Bay97732
Palm Jumeirah92173
Dubai Marina826165
Jumeirah Lake Towers784239
Dubai Sports City74049
Motor City73910

A community counts the sales of every building and villa project in it that has a page here. A sale the register files where we have no page — a plot, a tower not yet placed — is in the month’s total and in neither table. The busiest table’s price is completed homes only, so a community that sold nothing but launches has none; the dearest table ranks completed homes alone.

Buildings

The busiest towers in February 2010

The 15 buildings with the most sales registered in February, each linking its own recorded history.

Every sale the tower registered in the month. The price is its median a square foot where it sold one kind of home — off-plan or completed — and a dash where it sold both, because the two are never averaged together.

The record sales

The dearest homes registered in February 2010

The dearest was an AED 29M off-plan six-bedroom home at Balqis Residence 1, Palm Jumeirah — 17,359 sq ft at AED 1,671 a square foot, registered on 25 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
25 Feb 2010Balqis Residence 1Palm Jumeirah6 B/R17,359AED 29M1,671Off-plan
16 Feb 2010Palazzo VersaceCulture Village5 B/R10,678AED 25M2,369Off-plan
8 Feb 2010Opal Tower MarinaDubai Marina4 B/R8,430AED 13M1,545Completed
15 Feb 2010Trident Grand ResidenceDubai MarinaPENTHOUSE7,828AED 9.00M1,150Off-plan
15 Feb 2010Trident Grand ResidenceDubai MarinaPENTHOUSE7,828AED 9.00M1,150Off-plan
23 Feb 2010Trident Grand ResidenceDubai MarinaPENTHOUSE5,969AED 8.80M1,474Off-plan
17 Feb 2010Balqis Residence 2Palm Jumeirah3 B/R6,709AED 8.70M1,297Off-plan
25 Feb 2010Burj KhalifaDowntown Dubai3 B/R2,663AED 8.52M3,198Completed
24 Feb 2010Residences_E1Downtown Dubai4 B/R4,789AED 8.00M1,671Completed
8 Feb 2010The Residences II - Tower 2Downtown Dubai3 B/R2,599AED 7.92M3,046Completed

Apartments and villas as the register files them. A house registered with its plot is filed as land, so a mansion can be missing here; it is read apart, with every year’s record since 2015, on the most expensive homes sold in Dubai. A home with no page here is named by the Land Department’s area.

Questions people ask

The Dubai property market in February 2010, answered

How many properties were sold in Dubai in February 2010?

2,048 residential sales were registered at the Dubai Land Department in February 2010, worth AED 2.9bn: 798 off-plan and 1,250 completed homes. That is 6% fewer than in February 2009, when 2,170 were registered. The count is of transfers the Land Department registered in the month; mortgage registrations, gifts, lease-to-own conversions, developers' own filings and transfers recorded at a fraction of what a home sells for are left out, because none of them is a price a buyer paid.

What was the most expensive home sold in Dubai in February 2010?

The dearest apartment or villa registered was an AED 29M off-plan six-bedroom home at Balqis Residence 1, Palm Jumeirah — 17,359 sq ft at AED 1,671 a square foot, registered on 25 February. Next came AED 25M at Palazzo Versace, Culture Village, and AED 13M at Opal Tower Marina, Dubai Marina. A house registered with its plot is filed as land rather than as a villa, so it is read apart, on the page for the most expensive homes sold in Dubai.

Which area of Dubai had the most property sales in February 2010?

International City, with 323 registered sales, 180 of them completed homes; then Dubai Marina (304) and Jumeirah Lake Towers (252). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,418 across 72 resales. A community counts every building and villa project in it that has a page here.

The same register read as a year rather than a month: what every community and building sells for now is Dubai property prices, and how far prices have moved since 2020 is the Dubai property price index. Rents are read from the Ejari register as a year, with a new lease kept apart from a renewal, on Dubai rent prices.

Where these numbers come from. Every figure on this page is drawn from the Dubai Land Department’s transaction register, read directly from the Dubai Data Exchange. It is what buyers actually paid, recorded at transfer — not asking prices, not valuations, not our own estimates. Mortgage registrations, gift transfers, rent-to-own contracts and developers’ own filings are all excluded; none of them is a price a buyer paid. Medians are used rather than averages so one unusual sale cannot move the number. Data through 28 Feb 2010.

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What is yours worth this month?

We read this register every day. Tell us the building and the unit and we will tell you what the last comparable sold for, and what this month's sales say about yours.

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