Dubai property prices › Month by month › August 2014
The Dubai property market in August 2014
In August 2014 the Dubai Land Department registered 2,688 residential sales worth AED 4.6bn — 28% more than in August 2013, when it registered 2,101, and 23% more by value. Most were completed homes: 1,757, against 931 off-plan. A completed home changed hands at a median AED 1.17M, AED 995 a square foot — 7% more a foot than in August 2013.
The month in its year
August 2014 against the twelve months before it
2,688 sales in August 2014, against 2,101 in August 2013. Off-plan was 35% of the month, against 13% a year earlier.
Completed homes
What a completed home sold for in August 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 | 305 | AED 519K | 1,011 |
| 1 B/R | 646 | AED 850K | 1,019 |
| 2 B/R | 377 | AED 1.57M | 1,142 |
| 3 B/R | 123 | AED 3.00M | 1,100 |
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 August to 29 August. The busiest was 25 August: 296 sales, AED 469m.
- Off-plan
- 931 sales at a median AED 1,282 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 309 of the 2,688, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 368 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 August, 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 | 299 | 142 | 1,426 |
| Business Bay | 268 | 64 | 1,400 |
| Dubai Production City (IMPZ) | 246 | 228 | 1,001 |
| Jumeirah Village Circle | 161 | 50 | 860 |
| Remraam | 157 | 0 | 995 |
| Dubai Sports City | 152 | 46 | 921 |
| Damac Hills | 149 | 96 | 900 |
| International City | 116 | 0 | 756 |
| Downtown Dubai | 111 | 27 | 2,278 |
| Jumeirah Lake Towers | 85 | 8 | 1,265 |
| Reem | 72 | 72 | — |
| Dubai Silicon Oasis | 70 | 3 | 842 |
| Palm Jumeirah | 66 | 14 | 1,570 |
| Motor City | 52 | 0 | 950 |
| Jumeirah Beach Residence | 38 | 0 | 1,689 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 2,278 | 84 |
| Jumeirah Beach Residence | 1,689 | 38 |
| The Views | 1,685 | 10 |
| Palm Jumeirah | 1,570 | 52 |
| Greens | 1,496 | 20 |
| Dubai Marina | 1,426 | 157 |
| Business Bay | 1,400 | 204 |
| Jumeirah Lake Towers | 1,265 | 77 |
| Dubai Production City (IMPZ) | 1,001 | 18 |
| Majan | 1,000 | 28 |
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 August 2014
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Executive Bay ABusiness Bay | 89 | 0 | 1,277 |
| 2 | Lakeside Tower DDubai Production City (IMPZ) | 75 | all | 992 |
| 3 | Lakeside Tower CDubai Production City (IMPZ) | 60 | all | 943 |
| 4 | Al Ramth 59Remraam | 57 | 0 | 1,003 |
| 5 | Marina Gate 1Dubai Marina | 56 | all | 1,950 |
| 6 | Dubai Marina No.9Dubai Marina | 53 | all | 1,944 |
| 7 | Al Ramth 57Remraam | 48 | 0 | 997 |
| 8 | Lakeside Tower ADubai Production City (IMPZ) | 42 | all | 1,002 |
| 9 | Mira Oasis 1Reem | 41 | all | 593 |
| 10 | Barton House 1Motor City | 38 | 0 | 950 |
| 11 | Lakeside Tower BDubai Production City (IMPZ) | 38 | all | 991 |
| 12 | Silicon Gates 1Dubai Silicon Oasis | 36 | 3 | — |
| 13 | Elite Sports Residence 8Dubai Sports City | 35 | all | 872 |
| 14 | Fairview ResidencyBusiness Bay | 30 | 0 | 1,424 |
| 15 | Diamond Views 4Jumeirah Village Circle | 27 | 0 | 824 |
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 August 2014
The dearest was an AED 21M off-plan four-bedroom home at Palazzo Versace, Culture Village — 5,032 sq ft at AED 4,172 a square foot, registered on 11 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 11 Aug 2014 | Palazzo VersaceCulture Village | 4 B/R | 5,032 | AED 21M | 4,172 | Off-plan |
| 12 Aug 2014 | Burj KhalifaDowntown Dubai | 2 B/R | 2,172 | AED 17M | 7,826 | Completed |
| 27 Aug 2014 | The Residences East PodiumDowntown Dubai | 3 B/R | 2,888 | AED 14M | 4,847 | Completed |
| 18 Aug 2014 | Royal Amwaj Residences SouthPalm Jumeirah | 3 B/R | 4,808 | AED 13M | 2,631 | Completed |
| 11 Aug 2014 | Burj KhalifaDowntown Dubai | 3 B/R | 2,923 | AED 12M | 4,035 | Completed |
| 27 Aug 2014 | Al Seef Tower 1Jumeirah Lake Towers | 5 B/R | 7,606 | AED 11M | 1,446 | Completed |
| 14 Aug 2014 | Marina Gate 1Dubai Marina | 4 B/R | 5,348 | AED 9.88M | 1,847 | Off-plan |
| 12 Aug 2014 | Burj KhalifaDowntown Dubai | 2 B/R | 2,008 | AED 9.10M | 4,532 | Completed |
| 19 Aug 2014 | Vida Residences 3 & 4 - The HillsGreens | 5 B/R | 5,589 | AED 8.70M | 1,557 | Off-plan |
| 4 Aug 2014 | Burj KhalifaDowntown Dubai | 2 B/R | 2,058 | AED 8.68M | 4,219 | 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 August 2014, answered
How many properties were sold in Dubai in August 2014?
2,688 residential sales were registered at the Dubai Land Department in August 2014, worth AED 4.6bn: 931 off-plan and 1,757 completed homes. That is 28% more than in August 2013, when 2,101 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 August 2014?
The dearest apartment or villa registered was an AED 21M off-plan four-bedroom home at Palazzo Versace, Culture Village — 5,032 sq ft at AED 4,172 a square foot, registered on 11 August. Next came AED 17M at Burj Khalifa, Downtown Dubai, and AED 14M at The Residences East Podium, 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 August 2014?
Dubai Marina, with 299 registered sales, 157 of them completed homes; then Business Bay (268) and Dubai Production City (IMPZ) (246). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,278 across 84 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.