Dubai property prices › Month by month › May 2010
The Dubai property market in May 2010
In May 2010 the Dubai Land Department registered 2,028 residential sales worth AED 3.0bn — 64% fewer than in May 2009, when it registered 5,560, and 58% less by value. Most were completed homes: 1,666, against 362 off-plan. A completed home changed hands at a median AED 960K, AED 795 a square foot — 24% more a foot than in May 2009.
The month in its year
May 2010 against the twelve months before it
2,028 sales in May 2010 — the fewest in a month since January 2010, against 5,560 in May 2009. Off-plan was 18% of the month, against 72% a year earlier.
Completed homes
What a completed home sold for in May 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 283 | AED 335K | 676 |
| 1 B/R | 612 | AED 688K | 812 |
| 2 B/R | 399 | AED 1.38M | 902 |
| 3 B/R | 221 | AED 2.17M | 849 |
| 4 B/R | 19 | AED 2.70M | 832 |
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, 3 May to 31 May. The busiest was 17 May: 256 sales, AED 404m.
- Off-plan
- 362 sales at a median AED 1,039 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 238 of the 2,028, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 200 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 May, 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 community | Sales | Off-plan | Completed AED/sqft |
|---|---|---|---|
| Dubai Marina | 337 | 99 | 866 |
| Jumeirah Lake Towers | 292 | 51 | 774 |
| Downtown Dubai | 234 | 4 | 1,321 |
| International City | 212 | 3 | 454 |
| Dubai Sports City | 138 | 32 | 710 |
| Business Bay | 116 | 57 | 979 |
| Greens | 72 | 0 | 862 |
| Palm Jumeirah | 71 | 47 | 1,042 |
| The Springs | 55 | 0 | 528 |
| The Views | 41 | 0 | 927 |
| Jumeirah Beach Residence | 39 | 0 | 1,014 |
| Motor City | 39 | 0 | 762 |
| Discovery Gardens | 38 | 0 | 606 |
| Dubai Silicon Oasis | 35 | 13 | 826 |
| Dubai Production City (IMPZ) | 29 | 6 | 847 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,321 | 230 |
| Palm Jumeirah | 1,042 | 24 |
| Jumeirah Beach Residence | 1,014 | 39 |
| Business Bay | 979 | 59 |
| Barsha Heights (Tecom) | 967 | 21 |
| The Views | 927 | 41 |
| Dubai Marina | 866 | 238 |
| Greens | 862 | 72 |
| Dubai Production City (IMPZ) | 847 | 23 |
| Dubai Silicon Oasis | 826 | 22 |
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 May 2010
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Cricket TowerDubai Sports City | 104 | 0 | 710 |
| 2 | Building U11International City | 63 | 0 | 411 |
| 3 | Marina Quays WestDubai Marina | 40 | 0 | 866 |
| 4 | The Lofts PodiumDowntown Dubai | 39 | 0 | 1,118 |
| 5 | Lakeshore Tower 1Jumeirah Lake Towers | 37 | 0 | 724 |
| 6 | New Dubai Gate 1Jumeirah Lake Towers | 34 | 0 | 866 |
| 7 | Marina PinnacleDubai Marina | 32 | all | 1,438 |
| 8 | V3 TowerJumeirah Lake Towers | 30 | 0 | 704 |
| 9 | Wind Tower 1Jumeirah Lake Towers | 26 | all | 1,139 |
| 10 | Lake Point TowerJumeirah Lake Towers | 25 | 0 | 794 |
| 11 | Mayfair ResidencyBusiness Bay | 23 | all | 1,363 |
| 12 | Bonnington TowerJumeirah Lake Towers | 23 | 0 | 760 |
| 13 | The Lofts WestDowntown Dubai | 23 | 0 | 1,648 |
| 14 | Marina Quays EastDubai Marina | 22 | 0 | 1,067 |
| 15 | Laguna TowerJumeirah Lake Towers | 22 | all | 793 |
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 May 2010
The dearest was an AED 13M completed four-bedroom home at Al Dabas, Palm Jumeirah — 5,236 sq ft at AED 2,387 a square foot, registered on 3 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 3 May 2010 | Al DabasPalm Jumeirah | 4 B/R | 5,236 | AED 13M | 2,387 | Completed |
| 25 May 2010 | Al Anber | 5 B/R | 6,982 | AED 10M | 1,456 | Completed |
| 5 May 2010 | Trident Grand ResidenceDubai Marina | PENTHOUSE | 6,351 | AED 8.00M | 1,260 | Off-plan |
| 5 May 2010 | Trident Grand ResidenceDubai Marina | PENTHOUSE | 6,351 | AED 8.00M | 1,260 | Off-plan |
| 25 May 2010 | The Fairmont Palm Residence SouthPalm Jumeirah | PENTHOUSE | 4,910 | AED 6.60M | 1,344 | Off-plan |
| 24 May 2010 | Marina Residences 4Palm Jumeirah | 3 B/R | 4,053 | AED 6.40M | 1,579 | Completed |
| 25 May 2010 | The Fairmont Palm Residence SouthPalm Jumeirah | 3 B/R | 4,252 | AED 5.60M | 1,317 | Off-plan |
| 11 May 2010 | Al Thanayah Fourth | 3 B/R | 2,611 | AED 5.46M | 2,090 | Completed |
| 13 May 2010 | West Heights 4Business Bay | 4 B/R | 3,446 | AED 5.17M | 1,500 | Completed |
| 3 May 2010 | South Ridge 1Downtown Dubai | 3 B/R | 2,102 | AED 5.10M | 2,426 | Completed |
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 May 2010, answered
How many properties were sold in Dubai in May 2010?
2,028 residential sales were registered at the Dubai Land Department in May 2010, worth AED 3.0bn: 362 off-plan and 1,666 completed homes. That is 64% fewer than in May 2009, when 5,560 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 May 2010?
The dearest apartment or villa registered was an AED 13M completed four-bedroom home at Al Dabas, Palm Jumeirah — 5,236 sq ft at AED 2,387 a square foot, registered on 3 May. Next came AED 10M at Al Anber, and AED 8.00M at Trident Grand Residence, 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 May 2010?
Dubai Marina, with 337 registered sales, 238 of them completed homes; then Jumeirah Lake Towers (292) and Downtown Dubai (234). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,321 across 230 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.