Dubai property prices › Month by month › May 2012
The Dubai property market in May 2012
In May 2012 the Dubai Land Department registered 1,955 residential sales worth AED 3.2bn — 27% more than in May 2011, when it registered 1,545, and 17% more by value. Most were completed homes: 1,785, against 170 off-plan. A completed home changed hands at a median AED 1.07M, AED 800 a square foot — 3% less a foot than in May 2011.
The month in its year
May 2012 against the twelve months before it
1,955 sales in May 2012, against 1,545 in May 2011. Off-plan was 9% of the month, against 14% a year earlier.
Completed homes
What a completed home sold for in May 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 | 263 | AED 310K | 662 |
| 1 B/R | 522 | AED 690K | 808 |
| 2 B/R | 475 | AED 1.34M | 915 |
| 3 B/R | 278 | AED 2.13M | 870 |
| 4 B/R | 43 | AED 3.39M | 990 |
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 May to 31 May. The busiest was 7 May: 142 sales, AED 253m.
- Off-plan
- 170 sales at a median AED 1,260 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 296 of the 1,955, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 184 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 | 402 | 97 | 951 |
| Jumeirah Lake Towers | 274 | 3 | 781 |
| International City | 160 | 0 | 346 |
| Downtown Dubai | 140 | 3 | 1,396 |
| Palm Jumeirah | 133 | 18 | 1,294 |
| Business Bay | 87 | 6 | 990 |
| Greens | 67 | 0 | 848 |
| The Springs | 63 | 0 | 599 |
| Jumeirah Beach Residence | 57 | 0 | 938 |
| Jumeirah Village Circle | 52 | 8 | 589 |
| Dubai Land Residence Complex | 51 | 1 | 683 |
| Discovery Gardens | 45 | 0 | 541 |
| The Views | 40 | 0 | 1,019 |
| Dubai Production City (IMPZ) | 20 | 2 | 859 |
| Dubai Silicon Oasis | 17 | 1 | 589 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,396 | 137 |
| Palm Jumeirah | 1,294 | 115 |
| Remraam | 1,204 | 15 |
| The Views | 1,019 | 40 |
| Business Bay | 990 | 81 |
| Dubai Marina | 951 | 305 |
| Jumeirah Beach Residence | 938 | 57 |
| Dubai Production City (IMPZ) | 859 | 18 |
| Greens | 848 | 67 |
| Barsha Heights (Tecom) | 809 | 14 |
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 2012
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | The TorchDubai Marina | 61 | 0 | 951 |
| 2 | Cayan TowerDubai Marina | 40 | all | 1,300 |
| 3 | Icon Tower 1Jumeirah Lake Towers | 36 | 0 | 720 |
| 4 | Icon Tower 2Jumeirah Lake Towers | 29 | 0 | 802 |
| 5 | Churchill Residency TowerBusiness Bay | 26 | 0 | 1,009 |
| 6 | Goldcrest Views 2Jumeirah Lake Towers | 24 | 0 | 825 |
| 7 | The Dubai Mall ResidencesDowntown Dubai | 18 | 0 | 2,427 |
| 8 | D-07International City | 18 | 0 | 250 |
| 9 | Goldcrest ExecutiveJumeirah Lake Towers | 18 | 0 | 1,052 |
| 10 | Concorde TowerJumeirah Lake Towers | 16 | 0 | 669 |
| 11 | Lake TerraceJumeirah Lake Towers | 15 | 0 | 766 |
| 12 | Madison ResidencyBarsha Heights (Tecom) | 14 | 0 | 809 |
| 13 | Kempinski Palm ResidencePalm Jumeirah | 14 | 0 | 2,223 |
| 14 | Springs 11The Springs | 13 | 0 | 514 |
| 15 | Ocean HeightsDubai Marina | 13 | 0 | 1,343 |
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 2012
The dearest was an AED 23M completed three-bedroom home at Kempinski Palm Residence, Palm Jumeirah — 8,779 sq ft at AED 2,667 a square foot, registered on 21 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 21 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 3 B/R | 8,779 | AED 23M | 2,667 | Completed |
| 21 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 7,055 | AED 19M | 2,712 | Completed |
| 21 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 4,235 | AED 15M | 3,471 | Completed |
| 21 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 3 B/R | 5,828 | AED 13M | 2,152 | Completed |
| 16 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 5,625 | AED 12M | 2,121 | Completed |
| 23 May 2012 | Marina Residences 2Palm Jumeirah | 5 B/R | 13,095 | AED 12M | 884 | Completed |
| 28 May 2012 | Sadaf 8Jumeirah Beach Residence | PENTHOUSE | 6,233 | AED 11M | 1,765 | Completed |
| 7 May 2012 | The Dubai Mall ResidencesDowntown Dubai | 3 B/R | 4,149 | AED 8.00M | 1,928 | Completed |
| 21 May 2012 | Trident BaysideDubai Marina | 4 B/R | 7,173 | AED 7.95M | 1,108 | Completed |
| 3 May 2012 | Kempinski Palm ResidencePalm Jumeirah | 2 B/R | 1,787 | AED 7.80M | 4,366 | 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 May 2012, answered
How many properties were sold in Dubai in May 2012?
1,955 residential sales were registered at the Dubai Land Department in May 2012, worth AED 3.2bn: 170 off-plan and 1,785 completed homes. That is 27% more than in May 2011, when 1,545 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 2012?
The dearest apartment or villa registered was an AED 23M completed three-bedroom home at Kempinski Palm Residence, Palm Jumeirah — 8,779 sq ft at AED 2,667 a square foot, registered on 21 May. Next came AED 19M at Kempinski Palm Residence, Palm Jumeirah, and AED 15M at Kempinski Palm Residence, Palm Jumeirah. 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 2012?
Dubai Marina, with 402 registered sales, 305 of them completed homes; then Jumeirah Lake Towers (274) and International City (160). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,396 across 137 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.