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Dubai property prices › Month by month › March 2010

The Dubai property market in March 2010

In March 2010 the Dubai Land Department registered 5,856 residential sales worth AED 8.0bn — 108% more than in March 2009, when it registered 2,822, and 137% more by value. Most were homes not yet built: 3,631 off-plan against 2,225 completed. A completed home changed hands at a median AED 916K, AED 780 a square foot — 39% more a foot than in March 2009.

Sales registered
5,856
+108% on March 2009 (2,822)
Value
AED 8.0bn
+137% on March 2009 (AED 3.4bn)
Off-plan
3,631
62% of the month · 2,225 completed
Completed homes, median
AED 780
per sq ft · AED 916K a home · +39% on March 2009

The month in its year

March 2010 against the twelve months before it

Residential sales registered, by monthOff-planResale5,856 in March 2010
2,822
5,856
M2009AMJJASONDJ2010FM

5,856 sales in March 2010 — the most in a month since June 2009, against 2,822 in March 2009. Off-plan was 62% of the month, against 29% a year earlier.

Completed homes

What a completed home sold for in March 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
Studio460AED 330K681
1 B/R740AED 660K799
2 B/R546AED 1.39M928
3 B/R285AED 2.15M810
4 B/R44AED 3.02M910

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
21, 1 March to 31 March. The busiest was 3 March: 2,023 sales, AED 3.4bn.
Off-plan
3,631 sales at a median AED 1,024 a square foot — its own line, never blended into the completed-home medians.
Villas
256 of the 5,856, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
238 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 March, 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 City1,3921,059503
Dubai Marina1,235931908
Downtown Dubai7555811,342
The Views504444978
Business Bay3633361,058
Jumeirah Lake Towers31616778
Discovery Gardens1790660
Dubai Sports City163331,008
Palm Jumeirah16013947
Jumeirah Village Circle9988647
Jumeirah Beach Residence9801,006
Dubai Production City (IMPZ)95321,012
The Springs650450
Dubai Investment Park (DIP)5956608
Greens570851
Dearest communityAED/sqftResales
Downtown Dubai1,342174
Business Bay1,05827
Dubai Production City (IMPZ)1,01263
Dubai Sports City1,008130
Jumeirah Beach Residence1,00698
The Views97860
Palm Jumeirah947147
Dubai Marina908304
Greens85157
Jumeirah Lake Towers778300

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 March 2010

The 15 buildings with the most sales registered in March, 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 March 2010

The dearest was an AED 17M completed five-bedroom home at Marina Residences 2, Palm Jumeirah — 13,095 sq ft at AED 1,317 a square foot, registered on 23 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
23 Mar 2010Marina Residences 2Palm Jumeirah5 B/R13,095AED 17M1,317Completed
11 Mar 2010East Heights 2Business Bay4 B/R6,313AED 13M2,024Completed
3 Mar 2010Dubai Marina Mall HotelDubai MarinaPENTHOUSE3,997AED 12M2,962Off-plan
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,263AED 11M8,989Off-plan
23 Mar 2010Marina Residences 2Palm Jumeirah4 B/R6,820AED 11M1,646Completed
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,095AED 10M9,550Off-plan
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,095AED 10M9,413Off-plan
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,068AED 10M9,528Off-plan
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,068AED 10M9,528Off-plan
3 Mar 2010Burj KhalifaDowntown Dubai1 B/R1,088AED 10M9,198Off-plan

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 March 2010, answered

How many properties were sold in Dubai in March 2010?

5,856 residential sales were registered at the Dubai Land Department in March 2010, worth AED 8.0bn: 3,631 off-plan and 2,225 completed homes. That is 108% more than in March 2009, when 2,822 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 March 2010?

The dearest apartment or villa registered was an AED 17M completed five-bedroom home at Marina Residences 2, Palm Jumeirah — 13,095 sq ft at AED 1,317 a square foot, registered on 23 March. Next came AED 13M at East Heights 2, Business Bay, and AED 12M at Dubai Marina Mall Hotel, 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 March 2010?

International City, with 1,392 registered sales, 1,059 of them off-plan; then Dubai Marina (1,235) and Downtown Dubai (755). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,342 across 174 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 31 Mar 2010.

Talk to us

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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