Dubai property prices › Month by month › August 2012
The Dubai property market in August 2012
In August 2012 the Dubai Land Department registered 1,336 residential sales worth AED 2.0bn — 6% more than in August 2011, when it registered 1,264, and 9% more by value. Most were completed homes: 1,165, against 171 off-plan. A completed home changed hands at a median AED 956K, AED 808 a square foot — 6% more a foot than in August 2011.
The month in its year
August 2012 against the twelve months before it
1,336 sales in August 2012 — the fewest in a month since November 2011, against 1,264 in August 2011. Off-plan was 13% of the month, against 12% a year earlier.
Completed homes
What a completed home sold for in August 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 | 194 | AED 310K | 689 |
| 1 B/R | 397 | AED 712K | 846 |
| 2 B/R | 302 | AED 1.37M | 932 |
| 4 B/R | 18 | AED 1.90M | 757 |
| 3 B/R | 141 | AED 2.05M | 832 |
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 August to 30 August. The busiest was 30 August: 149 sales, AED 175m.
- Off-plan
- 171 sales at a median AED 1,152 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 154 of the 1,336, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 67 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 August, 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 | 222 | 48 | 884 |
| Jumeirah Lake Towers | 137 | 8 | 803 |
| International City | 123 | 0 | 396 |
| Downtown Dubai | 106 | 29 | 1,341 |
| Business Bay | 103 | 17 | 966 |
| Jumeirah Village Circle | 97 | 2 | 797 |
| Palm Jumeirah | 61 | 11 | 1,262 |
| Greens | 58 | 7 | 1,087 |
| Remraam | 53 | 0 | 929 |
| Dubai Sports City | 38 | 19 | 739 |
| The Springs | 35 | 0 | 703 |
| Jumeirah Beach Residence | 30 | 0 | 930 |
| Dubai Production City (IMPZ) | 29 | 1 | 922 |
| Dubai Silicon Oasis | 19 | 9 | 503 |
| The Views | 16 | 0 | 1,031 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,341 | 77 |
| Palm Jumeirah | 1,262 | 50 |
| Greens | 1,087 | 51 |
| The Views | 1,031 | 16 |
| Business Bay | 966 | 86 |
| Jumeirah Beach Residence | 930 | 30 |
| Remraam | 929 | 53 |
| Dubai Production City (IMPZ) | 922 | 28 |
| Dubai Marina | 884 | 174 |
| Jumeirah Lake Towers | 803 | 129 |
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 August 2012
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | The Manhattan TowerJumeirah Village Circle | 58 | 0 | 708 |
| 2 | Al Thamam 01Remraam | 48 | 0 | 935 |
| 3 | Elite ResidenceDubai Marina | 35 | 0 | 587 |
| 4 | Churchill Residency TowerBusiness Bay | 23 | 0 | 785 |
| 5 | Al Alka 1Greens | 17 | 0 | 1,150 |
| 6 | Marina PinnacleDubai Marina | 17 | 0 | 820 |
| 7 | Hamza TowerDubai Sports City | 12 | 0 | 672 |
| 8 | Prime Residence 2International City | 12 | 0 | 902 |
| 9 | 23 MarinaDubai Marina | 11 | all | 932 |
| 10 | Princess TowerDubai Marina | 11 | 0 | 1,395 |
| 11 | Lake View TowerJumeirah Lake Towers | 10 | 0 | 874 |
| 12 | Park CentralBusiness Bay | 10 | all | 1,250 |
| 13 | Global Lake ViewJumeirah Lake Towers | 10 | 0 | 963 |
| 14 | Goldcrest Views 2Jumeirah Lake Towers | 10 | 0 | 975 |
| 15 | Al Shera TowerJumeirah Lake Towers | 10 | 0 | 710 |
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 August 2012
The dearest was an AED 16M completed four-bedroom home at Le Reve, Dubai Marina — 6,100 sq ft at AED 2,541 a square foot, registered on 6 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 6 Aug 2012 | Le ReveDubai Marina | 4 B/R | 6,100 | AED 16M | 2,541 | Completed |
| 14 Aug 2012 | Palazzo VersaceCulture Village | 4 B/R | 6,444 | AED 15M | 2,328 | Off-plan |
| 14 Aug 2012 | Palazzo VersaceCulture Village | 3 B/R | 5,084 | AED 12M | 2,360 | Off-plan |
| 14 Aug 2012 | Palazzo VersaceCulture Village | 3 B/R | 5,075 | AED 12M | 2,365 | Off-plan |
| 7 Aug 2012 | Palazzo VersaceCulture Village | 4 B/R | 5,032 | AED 11M | 2,197 | Off-plan |
| 22 Aug 2012 | AquamarinePalm Jumeirah | 4 B/R | 5,217 | AED 8.35M | 1,601 | Completed |
| 9 Aug 2012 | MarinascapeDubai Marina | 4 B/R | 8,680 | AED 7.00M | 806 | Completed |
| 14 Aug 2012 | D1 TowerCulture Village | 3 B/R | 3,674 | AED 6.92M | 1,882 | Off-plan |
| 30 Aug 2012 | The Fairmont Palm Residence NorthPalm Jumeirah | PENTHOUSE | 4,381 | AED 6.60M | 1,507 | Off-plan |
| 28 Aug 2012 | Burj KhalifaDowntown Dubai | 2 B/R | 2,036 | AED 6.50M | 3,193 | 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 August 2012, answered
How many properties were sold in Dubai in August 2012?
1,336 residential sales were registered at the Dubai Land Department in August 2012, worth AED 2.0bn: 171 off-plan and 1,165 completed homes. That is 6% more than in August 2011, when 1,264 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 August 2012?
The dearest apartment or villa registered was an AED 16M completed four-bedroom home at Le Reve, Dubai Marina — 6,100 sq ft at AED 2,541 a square foot, registered on 6 August. Next came AED 15M at Palazzo Versace, Culture Village, and AED 12M 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 August 2012?
Dubai Marina, with 222 registered sales, 174 of them completed homes; then Jumeirah Lake Towers (137) and International City (123). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,341 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.