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Dubai property prices › Month by month › December 2014

The Dubai property market in December 2014

In December 2014 the Dubai Land Department registered 3,922 residential sales worth AED 7.1bn — 36% fewer than in December 2013, when it registered 6,091, and 35% less by value. Most were completed homes: 2,362, against 1,560 off-plan. A completed home changed hands at a median AED 1.21M, AED 985 a square foot — 2% more a foot than in December 2013.

Sales registered
3,922
−36% on December 2013 (6,091)
Value
AED 7.1bn
−35% on December 2013 (AED 10.8bn)
Off-plan
1,560
40% of the month · 2,362 completed
Completed homes, median
AED 985
per sq ft · AED 1.21M a home · +2% on December 2013

The month in its year

December 2014 against the twelve months before it

Residential sales registered, by monthOff-planResale3,922 in December 2014
6,091
3,922
DJ2014FMAMJJASOND

3,922 sales in December 2014 — the most in a month since April 2014, against 6,091 in December 2013. Off-plan was 40% of the month, against 53% a year earlier.

Completed homes

What a completed home sold for in December 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
Studio395AED 470K1,000
1 B/R848AED 847K1,005
2 B/R472AED 1.77M1,283
3 B/R159AED 2.62M1,154
4 B/R22AED 5.53M1,179

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 December to 31 December. The busiest was 29 December: 474 sales, AED 809m.
Off-plan
1,560 sales at a median AED 1,223 a square foot — its own line, never blended into the completed-home medians.
Villas
690 of the 3,922, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
530 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 December, 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 Marina429491,570
Reem329329—
Business Bay265881,621
International City2500746
Dubai Hills Estate242242—
Jumeirah Village Circle18550835
Downtown Dubai174892,146
Dubai Sports City17173970
Al Quoz154154—
Damac Hills 21490883
Damac Hills12587938
Jumeirah Lake Towers11231,264
Liwan1117709
Meydan111106760
Dubai Science Park9526960
Dearest communityAED/sqftResales
Downtown Dubai2,14685
Palm Jumeirah1,72878
Business Bay1,621177
Dubai Marina1,570380
Jumeirah Beach Residence1,51530
The Views1,48012
Greens1,40921
Jumeirah Lake Towers1,264109
Jumeirah Village Triangle1,07016
Barsha Heights (Tecom)1,06315

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 December 2014

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

The dearest was an AED 27M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 5,965 a square foot, registered on 18 December.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
18 Dec 2014Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 27M5,965Completed
23 Dec 2014Palazzo VersaceCulture Village3 B/R5,669AED 15M2,590Off-plan
24 Dec 2014Palazzo VersaceCulture Village3 B/R3,805AED 13M3,413Off-plan
23 Dec 2014Elite ResidenceDubai Marina4 B/R6,246AED 13M2,001Completed
10 Dec 201423 MarinaDubai Marina4 B/R5,645AED 12M2,055Completed
29 Dec 2014Opera GrandDowntown Dubai3 B/R2,697AED 11M4,194Off-plan
16 Dec 2014Opera GrandDowntown Dubai3 B/R2,507AED 11M4,338Off-plan
22 Dec 2014Murjan 1Jumeirah Beach Residence4 B/R5,908AED 11M1,811Completed
22 Dec 2014Al Yass TowerDubai Marina5 B/R4,533AED 10M2,206Completed
23 Dec 2014Boulevard PointDowntown Dubai5 B/R4,044AED 9.72M2,404Off-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 December 2014, answered

How many properties were sold in Dubai in December 2014?

3,922 residential sales were registered at the Dubai Land Department in December 2014, worth AED 7.1bn: 1,560 off-plan and 2,362 completed homes. That is 36% fewer than in December 2013, when 6,091 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 December 2014?

The dearest apartment or villa registered was an AED 27M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 5,965 a square foot, registered on 18 December. Next came AED 15M at Palazzo Versace, Culture Village, and AED 13M at Palazzo Versace, 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 December 2014?

Dubai Marina, with 429 registered sales, 380 of them completed homes; then Reem (329) and Business Bay (265). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,146 across 85 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 Dec 2014.

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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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