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Dubai property prices › Month by month › December 2013

The Dubai property market in December 2013

In December 2013 the Dubai Land Department registered 6,091 residential sales worth AED 10.8bn — 100% more than in December 2012, when it registered 3,050, and 101% more by value. Most were homes not yet built: 3,228 off-plan against 2,863 completed. A completed home changed hands at a median AED 1.23M, AED 969 a square foot — 4% more a foot than in December 2012.

Sales registered
6,091
+100% on December 2012 (3,050)
Value
AED 10.8bn
+101% on December 2012 (AED 5.4bn)
Off-plan
3,228
53% of the month · 2,863 completed
Completed homes, median
AED 969
per sq ft · AED 1.23M a home · +4% on December 2012

The month in its year

December 2013 against the twelve months before it

Residential sales registered, by monthOff-planResale6,091 in December 2013
3,050
6,091
DJ2013FMAMJJASOND

6,091 sales in December 2013 — the most in a month since June 2009, against 3,050 in December 2012. Off-plan was 53% of the month, against 10% a year earlier.

Completed homes

What a completed home sold for in December 2013

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.

LayoutSalesMedian priceAED/sqft
Studio443AED 420K805
1 B/R1,075AED 786K929
2 B/R710AED 1.81M1,268
4 B/R26AED 2.65M1,332
3 B/R242AED 2.86M1,132
PENTHOUSE55AED 3.16M1,376

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 December to 31 December. The busiest was 23 December: 837 sales, AED 1.4bn.
Off-plan
3,228 sales at a median AED 788 a square foot — its own line, never blended into the completed-home medians.
Villas
1,820 of the 6,091, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
239 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 communitySalesOff-planCompleted AED/sqft
Reem1,4721,472—
Downtown Dubai7394602,049
Dubai Marina584271,346
Greens3583101,394
Business Bay3202311,300
Dubai Production City (IMPZ)303273807
International City2850640
Motor City1990747
Dubai Sports City18547831
Jumeirah Lake Towers181121,154
Jumeirah Village Circle17655830
Damac Hills164121704
Remraam1160871
Discovery Gardens1140736
Palm Jumeirah85161,556
Dearest communityAED/sqftResales
Downtown Dubai2,049279
The Views1,67641
Palm Jumeirah1,55669
Jumeirah Beach Residence1,41873
Greens1,39448
Dubai Marina1,346557
Business Bay1,30089
Dubai Festival City1,15711
Jumeirah Lake Towers1,154169
The Springs88243

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 2013

The 15 buildings with the most sales registered in December, each linking its own recorded history.

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 2013

The dearest was an AED 42M completed home in the Land Department's Palm Jumeirah area — 16,262 sq ft at AED 2,583 a square foot, registered on 11 December.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
11 Dec 2013Palm JumeirahPENTHOUSE16,262AED 42M2,583Completed
11 Dec 2013Palm JumeirahPENTHOUSE6,755AED 33M4,885Completed
23 Dec 2013Burj KhalifaDowntown Dubai4 B/R4,596AED 30M6,484Completed
4 Dec 2013Le ReveDubai Marina4 B/R6,308AED 24M3,805Completed
25 Dec 2013Balqis Residences-Beach VillasPalm Jumeirah5 B/R13,913AED 23M1,653Off-plan
5 Dec 2013Palazzo VersaceCulture Village4 B/R5,032AED 20M3,954Off-plan
16 Dec 2013Emirates CrownDubai Marina5 B/R7,686AED 17M2,173Completed
25 Dec 2013Balqis Residences-Garden VillasPalm Jumeirah4 B/R8,492AED 16M1,884Off-plan
17 Dec 2013Palm Jumeirah4 B/R5,469AED 15M2,688Off-plan
16 Dec 2013Cayan TowerDubai MarinaPENTHOUSE11,142AED 14M1,263Completed

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 2013, answered

How many properties were sold in Dubai in December 2013?

6,091 residential sales were registered at the Dubai Land Department in December 2013, worth AED 10.8bn: 3,228 off-plan and 2,863 completed homes. That is 100% more than in December 2012, when 3,050 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 2013?

The dearest apartment or villa registered was an AED 42M completed home in the Land Department's Palm Jumeirah area — 16,262 sq ft at AED 2,583 a square foot, registered on 11 December. Next came AED 33M in the Land Department's Palm Jumeirah area, and AED 30M at Burj Khalifa, Downtown Dubai. 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 2013?

Reem, with 1,472 registered sales, almost all of them off-plan; then Downtown Dubai (739) and Dubai Marina (584). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,049 across 279 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.

Where these numbers come from. Every figure on this page is drawn from the Dubai Land Department’s transaction register, read directly from the Dubai Data Exchange. It is what buyers actually paid, recorded at transfer — not asking prices, not valuations, not our own estimates. Mortgage registrations, gift transfers, rent-to-own contracts and developers’ own filings are all excluded; none of them is a price a buyer paid. Medians are used rather than averages so one unusual sale cannot move the number. Data through 31 Dec 2013.

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What is yours worth this month?

We read this register every day. Tell us the building and the unit and we will tell you what the last comparable sold for, and what this month's sales say about yours.

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