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Dubai property prices › Month by month › January 2012

The Dubai property market in January 2012

In January 2012 the Dubai Land Department registered 1,554 residential sales worth AED 2.1bn — 20% fewer than in January 2011, when it registered 1,947, and 26% less by value. Most were completed homes: 1,402, against 152 off-plan. A completed home changed hands at a median AED 838K, AED 802 a square foot — 6% less a foot than in January 2011.

Sales registered
1,554
−20% on January 2011 (1,947)
Value
AED 2.1bn
−26% on January 2011 (AED 2.9bn)
Off-plan
152
10% of the month · 1,402 completed
Completed homes, median
AED 802
per sq ft · AED 838K a home · −6% on January 2011

The month in its year

January 2012 against the twelve months before it

Residential sales registered, by monthOff-planResale1,554 in January 2012
1,947
1,554
J2011FMAMJJASONDJ2012

1,554 sales in January 2012, against 1,947 in January 2011. Off-plan was 10% of the month, against 5% a year earlier.

Completed homes

What a completed home sold for in January 2012

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
Studio336AED 390K836
1 B/R440AED 689K810
2 B/R358AED 1.30M835
3 B/R130AED 2.07M859
4 B/R21AED 2.88M800

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 January to 31 January. The busiest was 16 January: 181 sales, AED 294m.
Off-plan
152 sales at a median AED 945 a square foot — its own line, never blended into the completed-home medians.
Villas
139 of the 1,554, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
77 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 January, 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
Jumeirah Lake Towers2340711
Dubai Marina22535869
Dubai Production City (IMPZ)15110986
Jumeirah Village Circle1297970
International City1200370
Palm Jumeirah92301,373
Downtown Dubai7371,302
Business Bay6821,071
Greens510728
Dubai Land Residence Complex450678
Discovery Gardens390528
Jumeirah Beach Residence340954
Dubai Silicon Oasis3211672
The Springs300560
Dubai Sports City2821693
Dearest communityAED/sqftResales
Palm Jumeirah1,37362
Downtown Dubai1,30266
Business Bay1,07166
Dubai Production City (IMPZ)986141
Jumeirah Village Circle970122
Jumeirah Beach Residence95434
The Views93126
Dubai Marina869190
Greens72851
Jumeirah Lake Towers711234

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 January 2012

The 15 buildings with the most sales registered in January, 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 January 2012

The dearest was an AED 16M completed five-bedroom home at Marina Residences 1, Palm Jumeirah — 13,095 sq ft at AED 1,246 a square foot, registered on 30 January.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
30 Jan 2012Marina Residences 1Palm Jumeirah5 B/R13,095AED 16M1,246Completed
26 Jan 2012Burj KhalifaDowntown Dubai4 B/R4,596AED 16M3,474Completed
9 Jan 2012Palazzo VersaceCulture Village3 B/R3,944AED 13M3,232Off-plan
16 Jan 2012Al Seef Tower 1Jumeirah Lake Towers5 B/R7,606AED 11M1,381Completed
9 Jan 2012Palazzo VersaceCulture Village2 B/R1,764AED 9.45M5,359Off-plan
23 Jan 2012Sadaf 2Jumeirah Beach ResidencePENTHOUSE6,307AED 8.32M1,320Completed
9 Jan 2012D1 TowerCulture Village6 B/R9,651AED 6.19M641Off-plan
31 Jan 201223 MarinaDubai Marina4 B/R5,645AED 6.05M1,072Off-plan
10 Jan 2012Trade Center Second3 B/R4,133AED 5.79M1,400Completed
16 Jan 2012Marina Residences 5Palm Jumeirah2 B/R1,778AED 5.73M3,222Completed

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 January 2012, answered

How many properties were sold in Dubai in January 2012?

1,554 residential sales were registered at the Dubai Land Department in January 2012, worth AED 2.1bn: 152 off-plan and 1,402 completed homes. That is 20% fewer than in January 2011, when 1,947 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 January 2012?

The dearest apartment or villa registered was an AED 16M completed five-bedroom home at Marina Residences 1, Palm Jumeirah — 13,095 sq ft at AED 1,246 a square foot, registered on 30 January. Next came AED 16M at Burj Khalifa, Downtown Dubai, and AED 13M at Palazzo Versace, Culture Village. 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 January 2012?

Jumeirah Lake Towers, with 234 registered sales, 234 of them completed homes; then Dubai Marina (225) and Dubai Production City (IMPZ) (151). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,373 across 62 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 Jan 2012.

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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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