Dubai property prices › Month by month › May 2011
The Dubai property market in May 2011
In May 2011 the Dubai Land Department registered 1,545 residential sales worth AED 2.7bn — 24% fewer than in May 2010, when it registered 2,028, and 10% less by value. Most were completed homes: 1,336, against 209 off-plan. A completed home changed hands at a median AED 1.12M, AED 826 a square foot — 4% more a foot than in May 2010.
The month in its year
May 2011 against the twelve months before it
1,545 sales in May 2011 — the fewest in a month since December 2010, against 2,028 in May 2010. Off-plan was 14% of the month, against 18% a year earlier.
Completed homes
What a completed home sold for in May 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 172 | AED 326K | 670 |
| 1 B/R | 482 | AED 733K | 801 |
| 2 B/R | 367 | AED 1.50M | 995 |
| 3 B/R | 192 | AED 2.36M | 948 |
| 4 B/R | 27 | AED 2.91M | 735 |
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, 2 May to 31 May. The busiest was 30 May: 175 sales, AED 266m.
- Off-plan
- 209 sales at a median AED 935 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 163 of the 1,545, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 182 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 | 390 | 56 | 1,046 |
| Jumeirah Lake Towers | 155 | 14 | 719 |
| Palm Jumeirah | 137 | 46 | 1,399 |
| International City | 128 | 4 | 372 |
| Downtown Dubai | 112 | 13 | 1,392 |
| Jumeirah Village Circle | 93 | 12 | 752 |
| Business Bay | 66 | 10 | 1,091 |
| Jumeirah Beach Residence | 57 | 0 | 869 |
| Dubai Sports City | 49 | 46 | 782 |
| The Views | 47 | 0 | 939 |
| The Springs | 44 | 0 | 493 |
| Greens | 43 | 0 | 688 |
| Discovery Gardens | 25 | 0 | 408 |
| Dubai Silicon Oasis | 18 | 3 | 816 |
| Dubai Land Residence Complex | 13 | 0 | 685 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,399 | 91 |
| Downtown Dubai | 1,392 | 99 |
| Business Bay | 1,091 | 56 |
| Dubai Marina | 1,046 | 334 |
| The Views | 939 | 47 |
| Jumeirah Beach Residence | 869 | 57 |
| Dubai Silicon Oasis | 816 | 15 |
| Jumeirah Village Circle | 752 | 81 |
| Jumeirah Lake Towers | 719 | 141 |
| Greens | 688 | 43 |
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 2011
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Ocean HeightsDubai Marina | 83 | 0 | 1,473 |
| 2 | MAG 218Dubai Marina | 36 | 0 | 800 |
| 3 | Red ResidencyDubai Sports City | 34 | all | 987 |
| 4 | Bahar 4Jumeirah Beach Residence | 29 | 0 | 950 |
| 5 | Sulafa TowerDubai Marina | 27 | 0 | 1,424 |
| 6 | Emirates Gardens1 1 - L2Jumeirah Village Circle | 25 | 0 | 665 |
| 7 | Burj KhalifaDowntown Dubai | 25 | 1 | — |
| 8 | Ontario TowerBusiness Bay | 21 | 0 | 1,137 |
| 9 | Sobha DaffodilJumeirah Village Circle | 17 | 0 | 909 |
| 10 | The Fairmont Palm Residence NorthPalm Jumeirah | 16 | all | 1,208 |
| 11 | Concorde TowerJumeirah Lake Towers | 16 | 0 | 646 |
| 12 | Emirates Gardens 1 - G1Jumeirah Village Circle | 15 | 0 | 634 |
| 13 | Marina PinnacleDubai Marina | 15 | all | 815 |
| 14 | Classic ApartmentsInternational City | 15 | 0 | 650 |
| 15 | Icon Tower 2Jumeirah Lake Towers | 14 | 0 | 833 |
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 2011
The dearest was an AED 17M completed five-bedroom home at Marina Residences 4, Palm Jumeirah — 13,095 sq ft at AED 1,317 a square foot, registered on 9 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 9 May 2011 | Marina Residences 4Palm Jumeirah | 5 B/R | 13,095 | AED 17M | 1,317 | Completed |
| 16 May 2011 | Burj KhalifaDowntown Dubai | 2 B/R | 2,237 | AED 16M | 7,153 | Off-plan |
| 23 May 2011 | Le ReveDubai Marina | 4 B/R | 6,100 | AED 16M | 2,590 | Completed |
| 19 May 2011 | Trident Grand ResidenceDubai Marina | PENTHOUSE | 7,884 | AED 12M | 1,522 | Off-plan |
| 24 May 2011 | Marina Residences 6Palm Jumeirah | 4 B/R | 6,821 | AED 11M | 1,646 | Completed |
| 23 May 2011 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 13,889 | AED 10M | 720 | Off-plan |
| 11 May 2011 | Burj KhalifaDowntown Dubai | 3 B/R | 2,728 | AED 9.46M | 3,469 | Completed |
| 11 May 2011 | Burj KhalifaDowntown Dubai | 3 B/R | 2,923 | AED 9.13M | 3,122 | Completed |
| 11 May 2011 | Burj KhalifaDowntown Dubai | 3 B/R | 2,728 | AED 8.40M | 3,080 | Completed |
| 23 May 2011 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 12,277 | AED 7.80M | 635 | Off-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 May 2011, answered
How many properties were sold in Dubai in May 2011?
1,545 residential sales were registered at the Dubai Land Department in May 2011, worth AED 2.7bn: 209 off-plan and 1,336 completed homes. That is 24% fewer than in May 2010, when 2,028 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 2011?
The dearest apartment or villa registered was an AED 17M completed five-bedroom home at Marina Residences 4, Palm Jumeirah — 13,095 sq ft at AED 1,317 a square foot, registered on 9 May. Next came AED 16M at Burj Khalifa, Downtown Dubai, and AED 16M at Le Reve, 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 2011?
Dubai Marina, with 390 registered sales, 334 of them completed homes; then Jumeirah Lake Towers (155) and Palm Jumeirah (137). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,399 across 91 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.