Dubai property prices › Month by month › February 2012
The Dubai property market in February 2012
In February 2012 the Dubai Land Department registered 1,889 residential sales worth AED 2.8bn — 11% fewer than in February 2011, when it registered 2,113, and 2% less by value. Most were completed homes: 1,696, against 193 off-plan. A completed home changed hands at a median AED 1.00M, AED 799 a square foot — 2% more a foot than in February 2011.
The month in its year
February 2012 against the twelve months before it
1,889 sales in February 2012 — the most in a month since March 2011, against 2,113 in February 2011. Off-plan was 10% of the month, against 5% a year earlier.
Completed homes
What a completed home sold for in February 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 334 | AED 363K | 784 |
| 1 B/R | 436 | AED 674K | 797 |
| 2 B/R | 494 | AED 1.25M | 855 |
| 3 B/R | 247 | AED 2.06M | 858 |
| 4 B/R | 34 | AED 4.97M | 961 |
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, 1 February to 29 February. The busiest was 27 February: 212 sales, AED 381m.
- Off-plan
- 193 sales at a median AED 963 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 220 of the 1,889, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 147 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 community | Sales | Off-plan | Completed AED/sqft |
|---|---|---|---|
| Dubai Marina | 357 | 71 | 903 |
| Jumeirah Lake Towers | 255 | 6 | 779 |
| International City | 122 | 6 | 362 |
| Dubai Production City (IMPZ) | 112 | 3 | 1,019 |
| Dubai Land Residence Complex | 112 | 0 | 662 |
| Palm Jumeirah | 104 | 9 | 1,396 |
| Downtown Dubai | 86 | 8 | 1,125 |
| Business Bay | 81 | 7 | 1,059 |
| Jumeirah Beach Residence | 61 | 0 | 829 |
| Jumeirah Village Circle | 57 | 7 | 909 |
| Greens | 55 | 0 | 800 |
| Dubai Sports City | 43 | 25 | 693 |
| Discovery Gardens | 43 | 0 | 573 |
| The Views | 41 | 0 | 991 |
| Dubai Silicon Oasis | 41 | 14 | 460 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,396 | 95 |
| Downtown Dubai | 1,125 | 78 |
| Business Bay | 1,059 | 74 |
| Dubai Production City (IMPZ) | 1,019 | 109 |
| The Views | 991 | 41 |
| Jumeirah Village Circle | 909 | 50 |
| Dubai Marina | 903 | 286 |
| Al Furjan | 875 | 34 |
| Jumeirah Beach Residence | 829 | 61 |
| Greens | 800 | 55 |
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 2012
The 15 buildings with the most sales registered in February, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Lago Vista ADubai Production City (IMPZ) | 52 | 0 | 918 |
| 2 | Icon Tower 2Jumeirah Lake Towers | 40 | 0 | 794 |
| 3 | Goldcrest ExecutiveJumeirah Lake Towers | 35 | 0 | 1,055 |
| 4 | The TorchDubai Marina | 32 | 0 | 1,017 |
| 5 | Marinascape OceanicDubai Marina | 28 | 0 | 762 |
| 6 | Syann Park 1Arjan | 27 | all | 958 |
| 7 | Skycourts Tower CDubai Land Residence Complex | 25 | 0 | 678 |
| 8 | Lago Vista BDubai Production City (IMPZ) | 25 | 0 | 1,058 |
| 9 | Marinascape AvantDubai Marina | 24 | 0 | 885 |
| 10 | Lago Vista CDubai Production City (IMPZ) | 24 | 0 | 1,752 |
| 11 | Kempinski Palm ResidencePalm Jumeirah | 23 | 0 | 2,165 |
| 12 | Palace Tower 2Dubai Silicon Oasis | 22 | 0 | 466 |
| 13 | Skycourts Tower BDubai Land Residence Complex | 22 | 0 | 666 |
| 14 | The PalladiumJumeirah Lake Towers | 21 | 0 | 505 |
| 15 | MAG 218Dubai Marina | 21 | 0 | 868 |
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 2012
The dearest was an AED 26M completed five-bedroom home at Ocean Heights, Dubai Marina — 11,270 sq ft at AED 2,267 a square foot, registered on 28 February.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 28 Feb 2012 | Ocean HeightsDubai Marina | 5 B/R | 11,270 | AED 26M | 2,267 | Completed |
| 15 Feb 2012 | Le ReveDubai Marina | 4 B/R | 6,308 | AED 18M | 2,854 | Completed |
| 13 Feb 2012 | Burj KhalifaDowntown Dubai | 4 B/R | 6,306 | AED 17M | 2,656 | Completed |
| 14 Feb 2012 | Kempinski Palm ResidencePalm Jumeirah | 3 B/R | 2,958 | AED 13M | 4,472 | Completed |
| 1 Feb 2012 | Marina Residences 6Palm Jumeirah | 4 B/R | 10,254 | AED 13M | 1,262 | Completed |
| 27 Feb 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 3,854 | AED 13M | 3,266 | Completed |
| 22 Feb 2012 | The TorchDubai Marina | 3 B/R | 4,033 | AED 11M | 2,719 | Completed |
| 9 Feb 2012 | Marinascape AvantDubai Marina | 4 B/R | 9,363 | AED 10M | 1,068 | Completed |
| 29 Feb 2012 | Kempinski Palm ResidencePalm Jumeirah | 2 B/R | 1,973 | AED 8.99M | 4,559 | Completed |
| 27 Feb 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 5,859 | AED 8.90M | 1,519 | 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 February 2012, answered
How many properties were sold in Dubai in February 2012?
1,889 residential sales were registered at the Dubai Land Department in February 2012, worth AED 2.8bn: 193 off-plan and 1,696 completed homes. That is 11% fewer than in February 2011, when 2,113 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 2012?
The dearest apartment or villa registered was an AED 26M completed five-bedroom home at Ocean Heights, Dubai Marina — 11,270 sq ft at AED 2,267 a square foot, registered on 28 February. Next came AED 18M at Le Reve, Dubai Marina, and AED 17M 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 2012?
Dubai Marina, with 357 registered sales, 286 of them completed homes; then Jumeirah Lake Towers (255) and International City (122). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,396 across 95 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.