Dubai property prices › Month by month › March 2014
The Dubai property market in March 2014
In March 2014 the Dubai Land Department registered 3,987 residential sales worth AED 8.3bn — 32% more than in March 2013, when it registered 3,017, and 62% more by value. Most were completed homes: 3,154, against 833 off-plan. A completed home changed hands at a median AED 1.45M, AED 994 a square foot — 7% more a foot than in March 2013.
The month in its year
March 2014 against the twelve months before it
3,987 sales in March 2014, against 3,017 in March 2013. Off-plan was 21% of the month, against 9% a year earlier.
Completed homes
What a completed home sold for in March 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 | 531 | AED 485K | 988 |
| 1 B/R | 1,115 | AED 975K | 1,034 |
| 2 B/R | 676 | AED 1.98M | 1,295 |
| 3 B/R | 251 | AED 3.00M | 1,229 |
| 4 B/R | 41 | AED 4.70M | 1,365 |
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
- 21, 3 March to 31 March. The busiest was 3 March: 439 sales, AED 834m.
- Off-plan
- 833 sales at a median AED 1,315 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 561 of the 3,987, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 558 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 March, 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 |
|---|---|---|---|
| Business Bay | 367 | 180 | 1,446 |
| Dubai Marina | 354 | 30 | 1,533 |
| Dubai Sports City | 322 | 102 | 1,069 |
| Downtown Dubai | 296 | 25 | 2,261 |
| Damac Hills | 265 | 97 | 805 |
| Jumeirah Village Circle | 256 | 46 | 787 |
| International City | 216 | 5 | 774 |
| Palm Jumeirah | 171 | 33 | 1,720 |
| Jumeirah Lake Towers | 157 | 6 | 1,174 |
| Motor City | 151 | 0 | 715 |
| Remraam | 130 | 0 | 920 |
| Jumeirah Beach Residence | 128 | 0 | 1,658 |
| Arabian Ranches 2 | 116 | 0 | 705 |
| Dubai Production City (IMPZ) | 109 | 77 | 891 |
| Greens | 77 | 27 | 1,439 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 2,261 | 271 |
| Palm Jumeirah | 1,720 | 138 |
| The Views | 1,719 | 33 |
| Jumeirah Beach Residence | 1,658 | 128 |
| Dubai Marina | 1,533 | 324 |
| Business Bay | 1,446 | 187 |
| Greens | 1,439 | 50 |
| The Lakes | 1,281 | 12 |
| Majan | 1,200 | 36 |
| Jumeirah Lake Towers | 1,174 | 151 |
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 March 2014
The 15 buildings with the most sales registered in March, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | RosaArabian Ranches 2 | 107 | 0 | 700 |
| 2 | Elite Sports Residence 5Dubai Sports City | 63 | 19 | — |
| 3 | Elite Sports Residence 3Dubai Sports City | 63 | 0 | 1,070 |
| 4 | CappadociaJumeirah Village Circle | 50 | 0 | 597 |
| 5 | Al Bateen ResidencesJumeirah Beach Residence | 49 | 0 | 1,995 |
| 6 | RichmondDamac Hills | 49 | 0 | 824 |
| 7 | Green ParkJumeirah Village Triangle | 45 | 0 | 761 |
| 8 | Frankfurt Sports TowerDubai Sports City | 41 | all | 1,104 |
| 9 | Autumn 1Jumeirah Village Circle | 40 | 0 | 793 |
| 10 | Damac Maison Dubai Mall Street (The Signature)Downtown Dubai | 40 | 0 | 2,606 |
| 11 | Foxhill 1Motor City | 37 | 0 | 715 |
| 12 | Damac Maison Prive BBusiness Bay | 37 | all | 2,590 |
| 13 | Elite Sports Residence 6Dubai Sports City | 37 | 0 | 1,214 |
| 14 | Foxhill 2Motor City | 35 | 0 | 715 |
| 15 | Park CentralBusiness Bay | 35 | 0 | 1,327 |
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 March 2014
The dearest was an AED 45M completed four-bedroom home at Emerald Palace Kempinski Hotel, Palm Jumeirah — 11,969 sq ft at AED 3,760 a square foot, registered on 10 March.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 10 Mar 2014 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 11,969 | AED 45M | 3,760 | Completed |
| 5 Mar 2014 | Royal Residences Jumeirah Zabeel SarayPalm Jumeirah | 5 B/R | 4,443 | AED 34M | 7,653 | Completed |
| 20 Mar 2014 | Palm Jumeirah | 4 B/R | 5,555 | AED 19M | 3,375 | Completed |
| 11 Mar 2014 | Dream Palm ResidencePalm Jumeirah | 5 B/R | 6,887 | AED 15M | 2,250 | Completed |
| 17 Mar 2014 | Emerald Palace Kempinski HotelPalm Jumeirah | 4 B/R | 7,012 | AED 15M | 2,139 | Completed |
| 19 Mar 2014 | MarinascapeDubai Marina | 4 B/R | 9,000 | AED 13M | 1,400 | Completed |
| 24 Mar 2014 | D1 TowerCulture Village | 4 B/R | 4,349 | AED 12M | 2,796 | Off-plan |
| 3 Mar 2014 | 23 MarinaDubai Marina | 4 B/R | 5,645 | AED 12M | 2,037 | Completed |
| 6 Mar 2014 | Burj KhalifaDowntown Dubai | 2 B/R | 2,058 | AED 10M | 4,994 | Completed |
| 11 Mar 2014 | Reehan 7Downtown Dubai | 3 B/R | 3,043 | AED 10M | 3,286 | 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 March 2014, answered
How many properties were sold in Dubai in March 2014?
3,987 residential sales were registered at the Dubai Land Department in March 2014, worth AED 8.3bn: 833 off-plan and 3,154 completed homes. That is 32% more than in March 2013, when 3,017 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 March 2014?
The dearest apartment or villa registered was an AED 45M completed four-bedroom home at Emerald Palace Kempinski Hotel, Palm Jumeirah — 11,969 sq ft at AED 3,760 a square foot, registered on 10 March. Next came AED 34M at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah, and AED 19M in the Land Department's Palm Jumeirah area. 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 March 2014?
Business Bay, with 367 registered sales, 187 of them completed homes; then Dubai Marina (354) and Dubai Sports City (322). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,261 across 271 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.