Dubai property prices › Month by month › October 2012
The Dubai property market in October 2012
In October 2012 the Dubai Land Department registered 2,799 residential sales worth AED 4.2bn — 86% more than in October 2011, when it registered 1,502, and 98% more by value. Most were completed homes: 2,485, against 314 off-plan. A completed home changed hands at a median AED 1.00M, AED 878 a square foot — 16% more a foot than in October 2011.
The month in its year
October 2012 against the twelve months before it
2,799 sales in October 2012 — the most in a month since June 2010, against 1,502 in October 2011. Off-plan was 11% of the month, against 12% a year earlier.
Completed homes
What a completed home sold for in October 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 | 314 | AED 378K | 801 |
| 1 B/R | 967 | AED 750K | 905 |
| 2 B/R | 665 | AED 1.30M | 916 |
| 3 B/R | 305 | AED 2.14M | 904 |
| 4 B/R | 39 | AED 4.08M | 975 |
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, 1 October to 31 October. The busiest was 1 October: 260 sales, AED 349m.
- Off-plan
- 314 sales at a median AED 1,324 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 311 of the 2,799, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 259 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 October, 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 | 571 | 23 | 1,084 |
| Jumeirah Lake Towers | 395 | 0 | 834 |
| Downtown Dubai | 266 | 54 | 1,443 |
| International City | 254 | 1 | 525 |
| Business Bay | 179 | 89 | 979 |
| Greens | 117 | 9 | 947 |
| Jumeirah Village Circle | 107 | 40 | 719 |
| The Springs | 87 | 0 | 486 |
| The Views | 78 | 0 | 978 |
| Jumeirah Beach Residence | 74 | 0 | 963 |
| Palm Jumeirah | 68 | 14 | 1,154 |
| Discovery Gardens | 57 | 0 | 599 |
| Dubai Land Residence Complex | 54 | 5 | 678 |
| Dubai Sports City | 43 | 8 | 585 |
| Dubai Silicon Oasis | 30 | 6 | 530 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,443 | 212 |
| Palm Jumeirah | 1,154 | 54 |
| Dubai Marina | 1,084 | 548 |
| Barsha Heights (Tecom) | 1,008 | 14 |
| Business Bay | 979 | 90 |
| The Views | 978 | 78 |
| Jumeirah Beach Residence | 963 | 74 |
| Greens | 947 | 108 |
| Remraam | 909 | 20 |
| Dubai Production City (IMPZ) | 855 | 18 |
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 October 2012
The 15 buildings with the most sales registered in October, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | O2 ResidenceJumeirah Lake Towers | 119 | 0 | 817 |
| 2 | Princess TowerDubai Marina | 94 | 0 | 1,111 |
| 3 | Silverene Tower ADubai Marina | 50 | 0 | 1,247 |
| 4 | Botanica TowerDubai Marina | 42 | 0 | 1,403 |
| 5 | The Dubai Mall ResidencesDowntown Dubai | 40 | 0 | 2,426 |
| 6 | Global Lake ViewJumeirah Lake Towers | 40 | 0 | 889 |
| 7 | Elite ResidenceDubai Marina | 35 | 0 | 1,723 |
| 8 | The CosmopolitanBusiness Bay | 34 | all | 1,600 |
| 9 | Marina PinnacleDubai Marina | 34 | 0 | 892 |
| 10 | Icon Tower 2Jumeirah Lake Towers | 32 | 0 | 808 |
| 11 | Churchill Residency TowerBusiness Bay | 26 | 0 | 1,023 |
| 12 | Damac Maison The VogueBusiness Bay | 24 | all | 1,759 |
| 13 | Goldcrest Views 2Jumeirah Lake Towers | 24 | 0 | 891 |
| 14 | Park CentralBusiness Bay | 21 | all | 1,000 |
| 15 | MAG 218Dubai Marina | 21 | 0 | 810 |
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 October 2012
The dearest was an AED 19M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 2,937 a square foot, registered on 22 October.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 22 Oct 2012 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 19M | 2,937 | Completed |
| 8 Oct 2012 | Dubai Marina Mall HotelDubai Marina | PENTHOUSE | 3,404 | AED 11M | 3,203 | Completed |
| 24 Oct 2012 | Al Fairooz TowerDubai Marina | 5 B/R | 6,823 | AED 11M | 1,539 | Completed |
| 22 Oct 2012 | The Dubai Mall ResidencesDowntown Dubai | 3 B/R | 1,982 | AED 8.84M | 4,461 | Completed |
| 23 Oct 2012 | Cayan TowerDubai Marina | PENTHOUSE | 5,645 | AED 8.35M | 1,479 | Off-plan |
| 12 Oct 2012 | South Bay 3Dubai South (Dubai World Central) | 4 B/R | 5,249 | AED 6.96M | 1,326 | Off-plan |
| 24 Oct 2012 | South Bay 3Dubai South (Dubai World Central) | 4 B/R | 5,355 | AED 6.96M | 1,300 | Completed |
| 8 Oct 2012 | Al Thanayah Fourth | 3 B/R | 2,611 | AED 6.78M | 2,598 | Completed |
| 12 Oct 2012 | South Bay 3Dubai South (Dubai World Central) | 4 B/R | 4,708 | AED 6.66M | 1,414 | Off-plan |
| 17 Oct 2012 | Residences_E1Downtown Dubai | 3 B/R | 2,599 | AED 6.60M | 2,539 | 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 October 2012, answered
How many properties were sold in Dubai in October 2012?
2,799 residential sales were registered at the Dubai Land Department in October 2012, worth AED 4.2bn: 314 off-plan and 2,485 completed homes. That is 86% more than in October 2011, when 1,502 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 October 2012?
The dearest apartment or villa registered was an AED 19M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 2,937 a square foot, registered on 22 October. Next came AED 11M at Dubai Marina Mall Hotel, Dubai Marina, and AED 11M at Al Fairooz Tower, Dubai Marina. 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 October 2012?
Dubai Marina, with 571 registered sales, 548 of them completed homes; then Jumeirah Lake Towers (395) and Downtown Dubai (266). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,443 across 212 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.