Dubai property prices › Month by month › July 2012
The Dubai property market in July 2012
In July 2012 the Dubai Land Department registered 1,952 residential sales worth AED 3.0bn — 40% more than in July 2011, when it registered 1,392, and 44% more by value. Most were completed homes: 1,694, against 258 off-plan. A completed home changed hands at a median AED 1.02M, AED 834 a square foot — 5% more a foot than in July 2011.
The month in its year
July 2012 against the twelve months before it
1,952 sales in July 2012, against 1,392 in July 2011. Off-plan was 13% of the month, against 14% a year earlier.
Completed homes
What a completed home sold for in July 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 | 270 | AED 317K | 656 |
| 1 B/R | 569 | AED 748K | 878 |
| 2 B/R | 485 | AED 1.35M | 908 |
| 3 B/R | 199 | AED 2.20M | 891 |
| 4 B/R | 24 | AED 3.13M | 867 |
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
- 22, 2 July to 31 July. The busiest was 9 July: 257 sales, AED 386m.
- Off-plan
- 258 sales at a median AED 996 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 224 of the 1,952, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 121 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 July, 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 | 369 | 36 | 1,009 |
| Greens | 200 | 144 | 964 |
| International City | 198 | 1 | 390 |
| Jumeirah Lake Towers | 171 | 0 | 803 |
| Downtown Dubai | 154 | 14 | 1,295 |
| Business Bay | 121 | 12 | 996 |
| Palm Jumeirah | 98 | 21 | 1,300 |
| Jumeirah Village Circle | 87 | 3 | 823 |
| The Springs | 63 | 0 | 571 |
| Discovery Gardens | 51 | 0 | 455 |
| Jumeirah Beach Residence | 46 | 0 | 900 |
| Dubai Sports City | 40 | 9 | 793 |
| The Views | 29 | 0 | 1,060 |
| Dubai Land Residence Complex | 27 | 0 | 687 |
| Motor City | 24 | 0 | 588 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,300 | 77 |
| Downtown Dubai | 1,295 | 140 |
| The Views | 1,060 | 29 |
| Dubai Marina | 1,009 | 333 |
| Business Bay | 996 | 109 |
| Al Furjan | 973 | 22 |
| Greens | 964 | 56 |
| Jumeirah Beach Residence | 900 | 46 |
| Jumeirah Village Circle | 823 | 84 |
| Jumeirah Lake Towers | 803 | 171 |
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 July 2012
The 15 buildings with the most sales registered in July, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | GR PanoramaGreens | 144 | all | 987 |
| 2 | Botanica TowerDubai Marina | 52 | 0 | 1,442 |
| 3 | The TorchDubai Marina | 31 | 0 | 946 |
| 4 | Marina PinnacleDubai Marina | 25 | 0 | 898 |
| 5 | Churchill Residency TowerBusiness Bay | 24 | 0 | 997 |
| 6 | Windsor ManorBusiness Bay | 23 | 0 | 1,199 |
| 7 | Ritz ResidencesInternational City | 22 | 0 | 789 |
| 8 | Icon Tower 1Jumeirah Lake Towers | 21 | 0 | 777 |
| 9 | MAG 218Dubai Marina | 21 | 0 | 797 |
| 10 | Princess TowerDubai Marina | 18 | 0 | 1,328 |
| 11 | Magnolia 2Jumeirah Village Circle | 17 | 0 | 882 |
| 12 | Mediterranean Cluster Building 100Discovery Gardens | 16 | 0 | 435 |
| 13 | Ocean HeightsDubai Marina | 16 | 0 | 1,350 |
| 14 | Elite Sports Residence 1Dubai Sports City | 15 | 0 | 809 |
| 15 | Al Jawzaa AAl Warsan | 15 | 0 | 730 |
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 July 2012
The dearest was an AED 15M completed three-bedroom home at Bonnington Tower, Jumeirah Lake Towers — 10,224 sq ft at AED 1,513 a square foot, registered on 19 July.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 19 Jul 2012 | Bonnington TowerJumeirah Lake Towers | 3 B/R | 10,224 | AED 15M | 1,513 | Completed |
| 9 Jul 2012 | Le ReveDubai Marina | 4 B/R | 6,100 | AED 15M | 2,459 | Completed |
| 19 Jul 2012 | Palazzo VersaceCulture Village | 4 B/R | 5,035 | AED 11M | 2,185 | Off-plan |
| 9 Jul 2012 | Kempinski Palm ResidencePalm Jumeirah | 3 B/R | 5,856 | AED 10M | 1,760 | Completed |
| 10 Jul 2012 | AquamarinePalm Jumeirah | 4 B/R | 5,217 | AED 9.58M | 1,837 | Completed |
| 25 Jul 2012 | Ocean HeightsDubai Marina | 4 B/R | 2,623 | AED 8.70M | 3,317 | Completed |
| 2 Jul 2012 | The Dubai Mall ResidencesDowntown Dubai | 3 B/R | 4,526 | AED 8.65M | 1,911 | Completed |
| 30 Jul 2012 | Emirates CrownDubai Marina | 5 B/R | 7,686 | AED 8.15M | 1,060 | Completed |
| 17 Jul 2012 | The Fairmont Palm Residence SouthPalm Jumeirah | 3 B/R | 3,553 | AED 7.45M | 2,097 | Off-plan |
| 9 Jul 2012 | Marinascape AvantDubai Marina | 4 B/R | 9,363 | AED 6.95M | 742 | 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 July 2012, answered
How many properties were sold in Dubai in July 2012?
1,952 residential sales were registered at the Dubai Land Department in July 2012, worth AED 3.0bn: 258 off-plan and 1,694 completed homes. That is 40% more than in July 2011, when 1,392 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 July 2012?
The dearest apartment or villa registered was an AED 15M completed three-bedroom home at Bonnington Tower, Jumeirah Lake Towers — 10,224 sq ft at AED 1,513 a square foot, registered on 19 July. Next came AED 15M at Le Reve, Dubai Marina, and AED 11M 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 July 2012?
Dubai Marina, with 369 registered sales, 333 of them completed homes; then Greens (200) and International City (198). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,300 across 77 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.