Dubai property prices › Month by month › October 2014
The Dubai property market in October 2014
In October 2014 the Dubai Land Department registered 3,097 residential sales worth AED 6.5bn — 42% fewer than in October 2013, when it registered 5,313, and 28% less by value. Most were completed homes: 1,716, against 1,381 off-plan. A completed home changed hands at a median AED 1.28M, AED 976 a square foot — 7% more a foot than in October 2013.
The month in its year
October 2014 against the twelve months before it
3,097 sales in October 2014 — the most in a month since June 2014, against 5,313 in October 2013. Off-plan was 45% of the month, against 19% a year earlier.
Completed homes
What a completed home sold for in October 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 | 268 | AED 490K | 1,001 |
| 1 B/R | 579 | AED 920K | 1,045 |
| 2 B/R | 385 | AED 1.43M | 1,031 |
| 3 B/R | 150 | AED 2.52M | 983 |
| 4 B/R | 17 | AED 5.17M | 1,451 |
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
- 23, 1 October to 31 October. The busiest was 27 October: 402 sales, AED 852m.
- Off-plan
- 1,381 sales at a median AED 1,142 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 721 of the 3,097, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 296 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 October, 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 |
|---|---|---|---|
| Reem | 406 | 406 | — |
| Downtown Dubai | 403 | 325 | 2,166 |
| Dubai Marina | 177 | 34 | 1,610 |
| Dubai Sports City | 153 | 73 | 874 |
| Business Bay | 141 | 37 | 1,399 |
| Meydan | 140 | 138 | 800 |
| International City | 122 | 1 | 743 |
| Al Furjan | 115 | 47 | 809 |
| Jumeirah Village Circle | 111 | 34 | 832 |
| Dubai Production City (IMPZ) | 92 | 70 | 980 |
| Jumeirah Lake Towers | 88 | 3 | 1,301 |
| Damac Hills 2 | 83 | 0 | 877 |
| Dubai Silicon Oasis | 82 | 3 | 839 |
| Remraam | 78 | 0 | 936 |
| Jumeirah Village Triangle | 68 | 0 | 1,085 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 2,166 | 78 |
| The Views | 1,839 | 11 |
| Jumeirah Beach Residence | 1,800 | 33 |
| Palm Jumeirah | 1,744 | 40 |
| Dubai Marina | 1,610 | 143 |
| Greens | 1,474 | 26 |
| Dubai Festival City | 1,438 | 12 |
| Business Bay | 1,399 | 104 |
| Jumeirah Lake Towers | 1,301 | 85 |
| Al Sufouh | 1,144 | 19 |
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 October 2014
The 15 buildings with the most sales registered in October, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Mira Oasis 1Reem | 320 | all | 630 |
| 2 | Boulevard Crescent Tower 1Downtown Dubai | 151 | all | 1,935 |
| 3 | Opera GrandDowntown Dubai | 96 | all | 2,871 |
| 4 | Boulevard PointDowntown Dubai | 64 | all | 2,063 |
| 5 | Avenue Residence 1Al Furjan | 60 | 0 | 809 |
| 6 | Mira Oasis 2Reem | 57 | all | 678 |
| 7 | ClaretDamac Hills 2 | 46 | 0 | 877 |
| 8 | Silicon Gates 1Dubai Silicon Oasis | 45 | 1 | — |
| 9 | JuniperDamac Hills 2 | 35 | 0 | 936 |
| 10 | Al Thamam 07Remraam | 35 | 0 | 942 |
| 11 | Elite Sports Residence 8Dubai Sports City | 33 | all | 896 |
| 12 | The DreamzAl Furjan | 32 | all | 1,346 |
| 13 | The Polo Residence D1Meydan | 31 | all | 1,245 |
| 14 | The Polo Residence A3Meydan | 30 | all | 1,178 |
| 15 | Imperial Residence 2Jumeirah Village Triangle | 30 | 0 | 1,096 |
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 October 2014
The dearest was an AED 29M completed four-bedroom home at Marina Residences 1, Palm Jumeirah — 10,254 sq ft at AED 2,828 a square foot, registered on 23 October.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 23 Oct 2014 | Marina Residences 1Palm Jumeirah | 4 B/R | 10,254 | AED 29M | 2,828 | Completed |
| 22 Oct 2014 | Royal Residences Jumeirah Zabeel SarayPalm Jumeirah | 4 B/R | 3,989 | AED 22M | 5,515 | Completed |
| 22 Oct 2014 | Al Fairooz TowerDubai Marina | 5 B/R | 4,544 | AED 14M | 3,081 | Completed |
| 14 Oct 2014 | D1 TowerCulture Village | 4 B/R | 4,349 | AED 13M | 2,983 | Off-plan |
| 22 Oct 2014 | Opera GrandDowntown Dubai | 3 B/R | 2,554 | AED 11M | 4,134 | Off-plan |
| 28 Oct 2014 | Opera GrandDowntown Dubai | 3 B/R | 2,554 | AED 11M | 4,128 | Off-plan |
| 28 Oct 2014 | Opera GrandDowntown Dubai | 3 B/R | 2,554 | AED 11M | 4,124 | Off-plan |
| 23 Oct 2014 | Opera GrandDowntown Dubai | 3 B/R | 2,554 | AED 11M | 4,122 | Off-plan |
| 24 Oct 2014 | Opera GrandDowntown Dubai | 3 B/R | 2,554 | AED 11M | 4,114 | Off-plan |
| 9 Oct 2014 | Boulevard PointDowntown Dubai | 5 B/R | 4,044 | AED 9.72M | 2,405 | Off-plan |
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 October 2014, answered
How many properties were sold in Dubai in October 2014?
3,097 residential sales were registered at the Dubai Land Department in October 2014, worth AED 6.5bn: 1,381 off-plan and 1,716 completed homes. That is 42% fewer than in October 2013, when 5,313 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 October 2014?
The dearest apartment or villa registered was an AED 29M completed four-bedroom home at Marina Residences 1, Palm Jumeirah — 10,254 sq ft at AED 2,828 a square foot, registered on 23 October. Next came AED 22M at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah, and AED 14M at Al Fairooz Tower, Dubai Marina. 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 October 2014?
Reem, with 406 registered sales, almost all of them off-plan; then Downtown Dubai (403) and Dubai Marina (177). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,166 across 78 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.