Dubai property prices › Month by month › January 2014
The Dubai property market in January 2014
In January 2014 the Dubai Land Department registered 3,403 residential sales worth AED 5.7bn — 15% more than in January 2013, when it registered 2,972, and 14% more by value. Most were completed homes: 3,098, against 305 off-plan. A completed home changed hands at a median AED 1.10M, AED 981 a square foot — 8% more a foot than in January 2013.
The month in its year
January 2014 against the twelve months before it
3,403 sales in January 2014, against 2,972 in January 2013. Off-plan was 9% of the month, against 11% a year earlier.
Completed homes
What a completed home sold for in January 2014
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 | 623 | AED 460K | 981 |
| 1 B/R | 1,162 | AED 809K | 996 |
| 2 B/R | 657 | AED 1.60M | 1,109 |
| 3 B/R | 224 | AED 2.72M | 1,255 |
| 4 B/R | 44 | AED 4.12M | 1,171 |
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 January to 31 January. The busiest was 13 January: 346 sales, AED 604m.
- Off-plan
- 305 sales at a median AED 800 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 458 of the 3,403, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 334 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 January, 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 |
|---|---|---|---|
| Downtown Dubai | 411 | 28 | 1,916 |
| Dubai Sports City | 369 | 36 | 1,009 |
| Dubai Marina | 319 | 6 | 1,417 |
| International City | 304 | 1 | 699 |
| Remraam | 250 | 0 | 863 |
| Jumeirah Village Circle | 244 | 50 | 809 |
| Jumeirah Lake Towers | 192 | 3 | 1,084 |
| Business Bay | 166 | 2 | 1,346 |
| Palm Jumeirah | 116 | 7 | 1,597 |
| Reem | 87 | 87 | — |
| Greens | 84 | 32 | 1,402 |
| Discovery Gardens | 78 | 0 | 754 |
| Jumeirah Beach Residence | 69 | 0 | 1,357 |
| Damac Hills | 52 | 0 | 726 |
| Dubai Production City (IMPZ) | 40 | 7 | 786 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,916 | 383 |
| The Views | 1,643 | 30 |
| Palm Jumeirah | 1,597 | 109 |
| Dubai Marina | 1,417 | 313 |
| Greens | 1,402 | 52 |
| Jumeirah Beach Residence | 1,357 | 69 |
| Business Bay | 1,346 | 164 |
| Dubai Festival City | 1,324 | 10 |
| Jumeirah Lake Towers | 1,084 | 189 |
| Dubai Sports City | 1,009 | 333 |
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 January 2014
The 15 buildings with the most sales registered in January, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Elite Sports Residence 3Dubai Sports City | 174 | 0 | 961 |
| 2 | Burj Al NujoomDowntown Dubai | 101 | 0 | 1,124 |
| 3 | Autumn 1Jumeirah Village Circle | 52 | 0 | 796 |
| 4 | Elite Sports Residence 6Dubai Sports City | 45 | 0 | 1,342 |
| 5 | 29 Burj Boulevard Tower 2Downtown Dubai | 41 | 0 | 2,387 |
| 6 | Cayan TowerDubai Marina | 37 | 0 | 1,560 |
| 7 | The SpiritDubai Sports City | 33 | 0 | 2,586 |
| 8 | 29 Burj Boulevard Tower 1Downtown Dubai | 29 | 0 | 2,244 |
| 9 | Marina PinnacleDubai Marina | 29 | 0 | 1,128 |
| 10 | Ubora Tower 1Business Bay | 29 | 0 | 1,270 |
| 11 | Autumn 2Jumeirah Village Circle | 28 | 0 | 767 |
| 12 | BD Standpoint ADowntown Dubai | 26 | 0 | 2,496 |
| 13 | Queens MeadowDamac Hills | 26 | 0 | 717 |
| 14 | Mira 4Reem | 25 | all | 616 |
| 15 | The Fairmont Palm Residence NorthPalm Jumeirah | 23 | 0 | 1,451 |
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 January 2014
The dearest was an AED 12M off-plan three-bedroom home at Palazzo Versace, Culture Village — 3,821 sq ft at AED 3,214 a square foot, registered on 27 January.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 27 Jan 2014 | Palazzo VersaceCulture Village | 3 B/R | 3,821 | AED 12M | 3,214 | Off-plan |
| 27 Jan 2014 | Burj KhalifaDowntown Dubai | 3 B/R | 2,728 | AED 11M | 3,849 | Completed |
| 23 Jan 2014 | D1 TowerCulture Village | 4 B/R | 4,349 | AED 10M | 2,355 | Off-plan |
| 13 Jan 2014 | The Dubai Mall ResidencesDowntown Dubai | 3 B/R | 1,982 | AED 10M | 5,046 | Completed |
| 14 Jan 2014 | Murjan 3Jumeirah Beach Residence | 4 B/R | 5,005 | AED 9.75M | 1,948 | Completed |
| 30 Jan 2014 | Princess TowerDubai Marina | 5 B/R | 6,147 | AED 9.70M | 1,578 | Completed |
| 13 Jan 2014 | Taj Grandeur ResidencesPalm Jumeirah | 3 B/R | 7,700 | AED 9.48M | 1,232 | Completed |
| 23 Jan 2014 | Al Bahar ResidencesDowntown Dubai | 3 B/R | 3,101 | AED 9.21M | 2,970 | Completed |
| 28 Jan 2014 | Cayan TowerDubai Marina | PENTHOUSE | 5,481 | AED 8.85M | 1,615 | Completed |
| 2 Jan 2014 | Jash FalqaPalm Jumeirah | 4 B/R | 4,838 | AED 8.75M | 1,809 | 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 January 2014, answered
How many properties were sold in Dubai in January 2014?
3,403 residential sales were registered at the Dubai Land Department in January 2014, worth AED 5.7bn: 305 off-plan and 3,098 completed homes. That is 15% more than in January 2013, when 2,972 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 January 2014?
The dearest apartment or villa registered was an AED 12M off-plan three-bedroom home at Palazzo Versace, Culture Village — 3,821 sq ft at AED 3,214 a square foot, registered on 27 January. Next came AED 11M at Burj Khalifa, Downtown Dubai, and AED 10M at D1 Tower, 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 January 2014?
Downtown Dubai, with 411 registered sales, 383 of them completed homes; then Dubai Sports City (369) and Dubai Marina (319). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,916 across 383 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.