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Dubai property prices › Month by month › February 2011

The Dubai property market in February 2011

In February 2011 the Dubai Land Department registered 2,113 residential sales worth AED 2.9bn — 3% more than in February 2010, when it registered 2,048, and 1% less by value. Most were completed homes: 2,005, against 108 off-plan. A completed home changed hands at a median AED 949K, AED 780 a square foot — 6% more a foot than in February 2010.

Sales registered
2,113
+3% on February 2010 (2,048)
Value
AED 2.9bn
−1% on February 2010 (AED 2.9bn)
Off-plan
108
5% of the month · 2,005 completed
Completed homes, median
AED 780
per sq ft · AED 949K a home · +6% on February 2010

The month in its year

February 2011 against the twelve months before it

Residential sales registered, by monthOff-planResale2,113 in February 2011
2,048
2,113
F2010MAMJJASONDJ2011F

2,113 sales in February 2011 — the most in a month since June 2010, against 2,048 in February 2010. Off-plan was 5% of the month, against 39% a year earlier.

Completed homes

What a completed home sold for in February 2011

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
Studio185AED 290K500
1 B/R884AED 738K742
2 B/R620AED 1.54M1,024
3 B/R229AED 1.99M761
4 B/R16AED 4.86M1,091

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
16, 1 February to 28 February. The busiest was 14 February: 308 sales, AED 394m.
Off-plan
108 sales at a median AED 896 a square foot — its own line, never blended into the completed-home medians.
Villas
154 of the 2,113, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
618 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
Motor City4010500
Dubai Marina33920998
The Views30701,219
International City1872418
Jumeirah Lake Towers18012709
Downtown Dubai17241,604
Palm Jumeirah8071,397
The Springs510465
Jumeirah Beach Residence5101,033
Business Bay494999
Jumeirah Village Circle4017828
Greens360730
Discovery Gardens320419
Dubai Sports City30211,215
Dubai Silicon Oasis204938
Dearest communityAED/sqftResales
Downtown Dubai1,604168
Palm Jumeirah1,39773
The Views1,219307
Jumeirah Beach Residence1,03351
Business Bay99945
Dubai Marina998319
Dubai Silicon Oasis93816
Jumeirah Village Circle82823
The Lakes78811
Greens73036

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 2011

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 2011

The dearest was an AED 28M completed four-bedroom home at Burj Khalifa, Downtown Dubai — 7,161 sq ft at AED 3,910 a square foot, registered on 1 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
1 Feb 2011Burj KhalifaDowntown Dubai4 B/R7,161AED 28M3,910Completed
23 Feb 2011Burj KhalifaDowntown Dubai4 B/R4,493AED 27M6,000Completed
1 Feb 2011Burj KhalifaDowntown Dubai4 B/R7,161AED 15M2,137Completed
8 Feb 2011Burj KhalifaDowntown Dubai4 B/R4,493AED 15M3,266Completed
8 Feb 2011Burj KhalifaDowntown Dubai4 B/R4,493AED 15M3,266Completed
14 Feb 2011Burj KhalifaDowntown Dubai1 B/R1,133AED 11M9,399Completed
16 Feb 2011Burj KhalifaDowntown Dubai3 B/R2,923AED 9.42M3,224Completed
7 Feb 2011Burj KhalifaDowntown Dubai3 B/R2,923AED 9.41M3,219Completed
16 Feb 2011Burj KhalifaDowntown Dubai3 B/R2,728AED 9.00M3,298Completed
21 Feb 2011RubyPalm Jumeirah4 B/R5,217AED 8.44M1,618Completed

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 2011, answered

How many properties were sold in Dubai in February 2011?

2,113 residential sales were registered at the Dubai Land Department in February 2011, worth AED 2.9bn: 108 off-plan and 2,005 completed homes. That is 3% more than in February 2010, when 2,048 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 2011?

The dearest apartment or villa registered was an AED 28M completed four-bedroom home at Burj Khalifa, Downtown Dubai — 7,161 sq ft at AED 3,910 a square foot, registered on 1 February. Next came AED 27M at Burj Khalifa, Downtown Dubai, and AED 15M at Burj Khalifa, Downtown Dubai. 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 2011?

Motor City, with 401 registered sales, 401 of them completed homes; then Dubai Marina (339) and The Views (307). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,604 across 168 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 2011.

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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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