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Dubai property prices › Month by month › July 2014

The Dubai property market in July 2014

In July 2014 the Dubai Land Department registered 2,100 residential sales worth AED 3.6bn — 40% fewer than in July 2013, when it registered 3,494, and 49% less by value. Most were completed homes: 1,413, against 687 off-plan. A completed home changed hands at a median AED 1.20M, AED 989 a square foot — 9% more a foot than in July 2013.

Sales registered
2,100
−40% on July 2013 (3,494)
Value
AED 3.6bn
−49% on July 2013 (AED 7.1bn)
Off-plan
687
33% of the month · 1,413 completed
Completed homes, median
AED 989
per sq ft · AED 1.20M a home · +9% on July 2013

The month in its year

July 2014 against the twelve months before it

Residential sales registered, by monthOff-planResale2,100 in July 2014
3,494
2,100
J2013ASONDJ2014FMAMJJ

2,100 sales in July 2014 — the fewest in a month since November 2012, against 3,494 in July 2013. Off-plan was 33% of the month, against 17% a year earlier.

Completed homes

What a completed home sold for in July 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.

LayoutSalesMedian priceAED/sqft
Studio288AED 473K950
1 B/R537AED 966K1,086
2 B/R277AED 1.99M1,271
3 B/R118AED 3.00M1,207
4 B/R15AED 5.50M1,217

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
19, 1 July to 25 July. The busiest was 7 July: 239 sales, AED 532m.
Off-plan
687 sales at a median AED 1,128 a square foot — its own line, never blended into the completed-home medians.
Villas
206 of the 2,100, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
115 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 July, 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
Dubai Marina2981521,514
Dubai Sports City139591,040
International City1370774
Jumeirah Village Circle13450896
Downtown Dubai128272,288
Motor City980951
Arjan9594432
Jumeirah Lake Towers9441,302
Dubai Investment Park (DIP)9382940
Business Bay73161,548
Palm Jumeirah6161,912
Dubai Production City (IMPZ)6044925
Dubai Silicon Oasis5916854
Remraam560908
Jumeirah Beach Residence5101,698
Dearest communityAED/sqftResales
Downtown Dubai2,288101
Palm Jumeirah1,91255
The Views1,83217
Jumeirah Beach Residence1,69851
Business Bay1,54857
Dubai Marina1,514146
Greens1,45727
Jumeirah Lake Towers1,30290
Discovery Gardens1,05921
Dubai Sports City1,04080

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 July 2014

The 15 buildings with the most sales registered in July, 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 July 2014

The dearest was an AED 20M off-plan four-bedroom home at Palazzo Versace, Culture Village — 5,000 sq ft at AED 4,000 a square foot, registered on 7 July.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
7 Jul 2014Palazzo VersaceCulture Village4 B/R5,000AED 20M4,000Off-plan
16 Jul 2014Balqis Residences-Garden VillasPalm Jumeirah4 B/R8,492AED 18M2,120Off-plan
23 Jul 2014Taj Grandeur ResidencesPalm Jumeirah3 B/R7,700AED 9.50M1,234Completed
9 Jul 2014Burj Khalifa3 B/R3,946AED 9.10M2,306Completed
17 Jul 2014Burj KhalifaDowntown Dubai3 B/R2,663AED 9.05M3,400Completed
8 Jul 2014Residences_W3Downtown Dubai3 B/R2,082AED 9.00M4,323Completed
17 Jul 2014Palazzo VersaceCulture Village3 B/R2,238AED 8.50M3,798Off-plan
8 Jul 2014MarinascapeDubai Marina4 B/R8,986AED 8.50M946Completed
14 Jul 2014Burj KhalifaDowntown Dubai2 B/R2,058AED 8.46M4,112Completed
23 Jul 2014Royal Amwaj Residences SouthPalm Jumeirah2 B/R2,868AED 7.99M2,785Completed

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 July 2014, answered

How many properties were sold in Dubai in July 2014?

2,100 residential sales were registered at the Dubai Land Department in July 2014, worth AED 3.6bn: 687 off-plan and 1,413 completed homes. That is 40% fewer than in July 2013, when 3,494 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 July 2014?

The dearest apartment or villa registered was an AED 20M off-plan four-bedroom home at Palazzo Versace, Culture Village — 5,000 sq ft at AED 4,000 a square foot, registered on 7 July. Next came AED 18M at Balqis Residences-Garden Villas, Palm Jumeirah, and AED 9.50M at Taj Grandeur Residences, Palm Jumeirah. 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 July 2014?

Dubai Marina, with 298 registered sales, 152 of them off-plan; then Dubai Sports City (139) and International City (137). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,288 across 101 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 Jul 2014.

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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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