Dubai property prices › Month by month › March 2012
The Dubai property market in March 2012
In March 2012 the Dubai Land Department registered 1,660 residential sales worth AED 2.6bn — 22% fewer than in March 2011, when it registered 2,133, and 22% less by value. Most were completed homes: 1,451, against 209 off-plan. A completed home changed hands at a median AED 1.00M, AED 809 a square foot — 2% more a foot than in March 2011.
The month in its year
March 2012 against the twelve months before it
1,660 sales in March 2012, against 2,133 in March 2011. Off-plan was 13% of the month, against 8% a year earlier.
Completed homes
What a completed home sold for in March 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 | 254 | AED 314K | 662 |
| 1 B/R | 437 | AED 650K | 796 |
| 2 B/R | 440 | AED 1.25M | 915 |
| 3 B/R | 184 | AED 2.08M | 837 |
| 4 B/R | 42 | AED 3.77M | 956 |
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, 1 March to 30 March. The busiest was 26 March: 186 sales, AED 223m.
- Off-plan
- 209 sales at a median AED 1,016 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 151 of the 1,660, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 148 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 March, 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 | 349 | 60 | 915 |
| Jumeirah Lake Towers | 187 | 3 | 737 |
| International City | 135 | 5 | 352 |
| Downtown Dubai | 126 | 11 | 1,274 |
| Palm Jumeirah | 116 | 22 | 1,531 |
| Business Bay | 87 | 7 | 1,022 |
| Dubai Land Residence Complex | 79 | 0 | 665 |
| Greens | 63 | 0 | 771 |
| Jumeirah Beach Residence | 55 | 0 | 909 |
| Dubai Production City (IMPZ) | 55 | 9 | 981 |
| Dubai Sports City | 43 | 34 | 700 |
| Jumeirah Village Circle | 40 | 1 | 899 |
| The Springs | 39 | 0 | 551 |
| Discovery Gardens | 35 | 0 | 516 |
| The Views | 27 | 0 | 981 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,531 | 94 |
| Downtown Dubai | 1,274 | 115 |
| Business Bay | 1,022 | 80 |
| The Views | 981 | 27 |
| Dubai Production City (IMPZ) | 981 | 46 |
| Dubai Marina | 915 | 289 |
| Jumeirah Beach Residence | 909 | 55 |
| Jumeirah Village Circle | 899 | 39 |
| Greens | 771 | 63 |
| Jumeirah Lake Towers | 737 | 184 |
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 March 2012
The 15 buildings with the most sales registered in March, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | The TorchDubai Marina | 89 | 0 | 944 |
| 2 | Kempinski Palm ResidencePalm Jumeirah | 41 | 0 | 2,084 |
| 3 | Churchill Residency TowerBusiness Bay | 20 | 0 | 991 |
| 4 | Goldcrest Views 1Jumeirah Lake Towers | 20 | 0 | 684 |
| 5 | Lake TerraceJumeirah Lake Towers | 19 | 0 | 736 |
| 6 | Jumeirah Bay X1Jumeirah Lake Towers | 19 | 0 | 746 |
| 7 | Skycourts Tower CDubai Land Residence Complex | 18 | 0 | 673 |
| 8 | Goldcrest Views 2Jumeirah Lake Towers | 18 | 0 | 848 |
| 9 | Ocean HeightsDubai Marina | 18 | 0 | 1,318 |
| 10 | Skycourts Tower ADubai Land Residence Complex | 18 | 0 | 670 |
| 11 | VenetianDubai Sports City | 17 | all | 750 |
| 12 | Lago Vista CDubai Production City (IMPZ) | 16 | 0 | 1,071 |
| 13 | Elite ResidenceDubai Marina | 16 | all | 1,289 |
| 14 | Skycourts Tower DDubai Land Residence Complex | 16 | 0 | 671 |
| 15 | Burj KhalifaDowntown Dubai | 14 | 2 | — |
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 March 2012
The dearest was an AED 21M completed four-bedroom home at Emerald Palace Kempinski Hotel, Palm Jumeirah — 11,969 sq ft at AED 1,765 a square foot, registered on 29 March.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 29 Mar 2012 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 11,969 | AED 21M | 1,765 | Completed |
| 5 Mar 2012 | Burj KhalifaDowntown Dubai | 2 B/R | 2,237 | AED 17M | 7,600 | Off-plan |
| 8 Mar 2012 | Burj KhalifaDowntown Dubai | 3 B/R | 2,663 | AED 16M | 6,008 | Completed |
| 14 Mar 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 7,055 | AED 15M | 2,084 | Completed |
| 14 Mar 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 4,924 | AED 15M | 2,961 | Completed |
| 5 Mar 2012 | Ocean HeightsDubai Marina | 4 B/R | 4,963 | AED 14M | 2,920 | Completed |
| 8 Mar 2012 | Marina Residences 1Palm Jumeirah | 5 B/R | 13,095 | AED 14M | 1,031 | Completed |
| 29 Mar 2012 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 7,012 | AED 13M | 1,854 | Completed |
| 12 Mar 2012 | Burj KhalifaDowntown Dubai | 2 B/R | 1,926 | AED 13M | 6,749 | Off-plan |
| 1 Mar 2012 | Al Anber | 5 B/R | 6,982 | AED 13M | 1,790 | 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 March 2012, answered
How many properties were sold in Dubai in March 2012?
1,660 residential sales were registered at the Dubai Land Department in March 2012, worth AED 2.6bn: 209 off-plan and 1,451 completed homes. That is 22% fewer than in March 2011, when 2,133 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 March 2012?
The dearest apartment or villa registered was an AED 21M completed four-bedroom home at Emerald Palace Kempinski Hotel, Palm Jumeirah — 11,969 sq ft at AED 1,765 a square foot, registered on 29 March. Next came AED 17M at Burj Khalifa, Downtown Dubai, and AED 16M 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 March 2012?
Dubai Marina, with 349 registered sales, 289 of them completed homes; then Jumeirah Lake Towers (187) and International City (135). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,531 across 94 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.