Dubai property prices › Month by month › December 2012
The Dubai property market in December 2012
In December 2012 the Dubai Land Department registered 3,050 residential sales worth AED 5.4bn — 66% more than in December 2011, when it registered 1,837, and 106% more by value. Most were completed homes: 2,742, against 308 off-plan. A completed home changed hands at a median AED 1.18M, AED 930 a square foot — 11% more a foot than in December 2011.
The month in its year
December 2012 against the twelve months before it
3,050 sales in December 2012 — the most in a month since June 2010, against 1,837 in December 2011. Off-plan was 10% of the month, against 9% a year earlier.
Completed homes
What a completed home sold for in December 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 | 328 | AED 371K | 783 |
| 1 B/R | 980 | AED 800K | 969 |
| 2 B/R | 735 | AED 1.43M | 997 |
| 3 B/R | 400 | AED 2.23M | 947 |
| 4 B/R | 61 | AED 4.91M | 1,023 |
| 5 B/R | 12 | AED 6.54M | 1,064 |
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
- 20, 4 December to 31 December. The busiest was 31 December: 413 sales, AED 744m.
- Off-plan
- 308 sales at a median AED 1,662 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 280 of the 3,050, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 158 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 December, 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 | 1,078 | 12 | 1,112 |
| Jumeirah Lake Towers | 264 | 5 | 854 |
| International City | 255 | 3 | 546 |
| Downtown Dubai | 233 | 99 | 1,501 |
| Business Bay | 218 | 100 | 1,027 |
| Jumeirah Village Circle | 131 | 6 | 655 |
| Palm Jumeirah | 93 | 19 | 1,179 |
| Jumeirah Beach Residence | 84 | 0 | 981 |
| Greens | 74 | 1 | 1,000 |
| The Springs | 45 | 0 | 763 |
| Dubai Land Residence Complex | 39 | 1 | 666 |
| The Views | 37 | 0 | 1,167 |
| Remraam | 33 | 0 | 838 |
| Discovery Gardens | 33 | 0 | 665 |
| Dubai Silicon Oasis | 28 | 3 | 625 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,501 | 134 |
| Palm Jumeirah | 1,179 | 74 |
| The Views | 1,167 | 37 |
| Dubai Marina | 1,112 | 1,066 |
| Business Bay | 1,027 | 118 |
| Greens | 1,000 | 73 |
| Jumeirah Beach Residence | 981 | 84 |
| Jumeirah Lake Towers | 854 | 259 |
| Remraam | 838 | 33 |
| The Springs | 763 | 45 |
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 December 2012
The 15 buildings with the most sales registered in December, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Princess TowerDubai Marina | 203 | 0 | 1,207 |
| 2 | Elite ResidenceDubai Marina | 202 | 0 | 1,419 |
| 3 | 23 MarinaDubai Marina | 152 | 0 | 927 |
| 4 | Silverene Tower BDubai Marina | 90 | 0 | 1,194 |
| 5 | HDS SunstarInternational City | 84 | 0 | 547 |
| 6 | Marina PinnacleDubai Marina | 81 | 0 | 974 |
| 7 | Silverene Tower ADubai Marina | 50 | 0 | 1,329 |
| 8 | The CosmopolitanBusiness Bay | 41 | all | 1,937 |
| 9 | MAG 218Dubai Marina | 40 | 0 | 900 |
| 10 | Global Lake ViewJumeirah Lake Towers | 35 | 0 | 1,049 |
| 11 | Churchill Residency TowerBusiness Bay | 30 | 0 | 1,048 |
| 12 | Boulevard Central Tower 1Downtown Dubai | 28 | 27 | — |
| 13 | Boulevard Central Tower 2Downtown Dubai | 26 | 25 | — |
| 14 | The Manhattan TowerJumeirah Village Circle | 26 | 0 | 791 |
| 15 | Park CentralBusiness Bay | 23 | all | 1,238 |
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 December 2012
The dearest was an AED 21M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 3,255 a square foot, registered on 12 December.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 12 Dec 2012 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 21M | 3,255 | Completed |
| 31 Dec 2012 | Elite ResidenceDubai Marina | 5 B/R | 12,469 | AED 16M | 1,263 | Completed |
| 10 Dec 2012 | Silverene Tower ADubai Marina | 5 B/R | 9,604 | AED 16M | 1,633 | Completed |
| 6 Dec 2012 | Elite ResidenceDubai Marina | 3 B/R | 6,065 | AED 10M | 1,655 | Completed |
| 6 Dec 2012 | Elite ResidenceDubai Marina | 3 B/R | 6,127 | AED 10M | 1,638 | Completed |
| 31 Dec 2012 | Hessyan First | 3 B/R | 3,651 | AED 9.15M | 2,507 | Off-plan |
| 25 Dec 2012 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 9.07M | 1,440 | Completed |
| 17 Dec 2012 | 23 MarinaDubai Marina | 4 B/R | 5,645 | AED 8.38M | 1,484 | Completed |
| 20 Dec 2012 | Palazzo VersaceCulture Village | 3 B/R | 2,961 | AED 7.91M | 2,672 | Off-plan |
| 24 Dec 2012 | Oceana SouthernPalm Jumeirah | 3 B/R | 2,440 | AED 7.40M | 3,033 | 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 December 2012, answered
How many properties were sold in Dubai in December 2012?
3,050 residential sales were registered at the Dubai Land Department in December 2012, worth AED 5.4bn: 308 off-plan and 2,742 completed homes. That is 66% more than in December 2011, when 1,837 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 December 2012?
The dearest apartment or villa registered was an AED 21M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 3,255 a square foot, registered on 12 December. Next came AED 16M at Elite Residence, Dubai Marina, and AED 16M at Silverene Tower A, 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 December 2012?
Dubai Marina, with 1,078 registered sales, 1,066 of them completed homes; then Jumeirah Lake Towers (264) and International City (255). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,501 across 134 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.