Dubai property prices › Month by month › January 2015
The Dubai property market in January 2015
In January 2015 the Dubai Land Department registered 3,060 residential sales worth AED 6.1bn — 10% fewer than in January 2014, when it registered 3,403, and 6% more by value. Most were completed homes: 2,125, against 935 off-plan. A completed home changed hands at a median AED 1.37M, AED 981 a square foot — level with January 2014.
The month in its year
January 2015 against the twelve months before it
3,060 sales in January 2015 — the fewest in a month since September 2014, against 3,403 in January 2014. Off-plan was 31% of the month, against 9% a year earlier.
Completed homes
What a completed home sold for in January 2015
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 | 437 | AED 741K | 1,204 |
| 1 B/R | 603 | AED 840K | 1,037 |
| 2 B/R | 333 | AED 1.50M | 1,076 |
| 3 B/R | 135 | AED 2.70M | 1,113 |
| 4 B/R | 17 | AED 4.40M | 1,083 |
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, 1 January to 29 January. The busiest was 19 January: 361 sales, AED 545m.
- Off-plan
- 935 sales at a median AED 1,207 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 547 of the 3,060, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 563 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 January, 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 | 392 | 25 | 1,302 |
| Damac Hills 2 | 289 | 0 | 887 |
| Dubai Sports City | 263 | 145 | 939 |
| Dubai Marina | 231 | 133 | 1,629 |
| Downtown Dubai | 185 | 122 | 2,111 |
| Jumeirah Village Circle | 181 | 27 | 807 |
| International City | 124 | 1 | 723 |
| Reem | 123 | 123 | — |
| Liwan | 92 | 4 | 684 |
| Dubai Hills Estate | 85 | 85 | — |
| Jumeirah Lake Towers | 84 | 7 | 1,258 |
| Damac Hills | 81 | 14 | 927 |
| Al Quoz | 77 | 77 | — |
| Dubai Science Park | 48 | 5 | 1,007 |
| Palm Jumeirah | 48 | 7 | 1,753 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 2,111 | 63 |
| Palm Jumeirah | 1,753 | 41 |
| The Views | 1,682 | 13 |
| Dubai Marina | 1,629 | 98 |
| Jumeirah Beach Residence | 1,546 | 17 |
| Greens | 1,418 | 20 |
| Arjan | 1,371 | 17 |
| Business Bay | 1,302 | 367 |
| Jumeirah Lake Towers | 1,258 | 77 |
| Jumeirah Village Triangle | 1,114 | 38 |
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 January 2015
The 15 buildings with the most sales registered in January, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Bay Square Building 9Business Bay | 171 | 0 | 1,209 |
| 2 | Mira Oasis 3Reem | 103 | all | 701 |
| 3 | Marina Gate 2Dubai Marina | 93 | all | 2,291 |
| 4 | BLVD Heights Tower 1Downtown Dubai | 88 | all | 1,924 |
| 5 | JuniperDamac Hills 2 | 65 | 0 | 961 |
| 6 | ClaretDamac Hills 2 | 63 | 0 | 961 |
| 7 | Elite Sports Residence 8Dubai Sports City | 62 | all | 974 |
| 8 | CoursetiaDamac Hills 2 | 54 | 0 | 877 |
| 9 | The CosmopolitanBusiness Bay | 53 | 0 | 2,058 |
| 10 | AsterDamac Hills 2 | 48 | 0 | 877 |
| 11 | Capital Bay Tower ABusiness Bay | 45 | 0 | 1,779 |
| 12 | Diamond Views 3Jumeirah Village Circle | 41 | 0 | 736 |
| 13 | PrimroseDamac Hills 2 | 40 | 0 | 877 |
| 14 | Arena ApartmentsDubai Sports City | 38 | all | 925 |
| 15 | La Riviera Estate BJumeirah Village Circle | 35 | 0 | 716 |
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 January 2015
The dearest was an AED 13M completed four-bedroom home at Marina Residences 2, Palm Jumeirah — 10,254 sq ft at AED 1,258 a square foot, registered on 8 January.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 8 Jan 2015 | Marina Residences 2Palm Jumeirah | 4 B/R | 10,254 | AED 13M | 1,258 | Completed |
| 9 Jan 2015 | Opera GrandDowntown Dubai | 4 B/R | 3,012 | AED 13M | 4,208 | Off-plan |
| 21 Jan 2015 | Residences_W3Downtown Dubai | 3 B/R | 3,546 | AED 13M | 3,525 | Completed |
| 8 Jan 2015 | Opera GrandDowntown Dubai | 4 B/R | 3,012 | AED 12M | 4,109 | Off-plan |
| 8 Jan 2015 | Opera GrandDowntown Dubai | 3 B/R | 2,697 | AED 11M | 4,190 | Off-plan |
| 21 Jan 2015 | Dream Palm ResidencePalm Jumeirah | 4 B/R | 5,001 | AED 11M | 2,200 | Completed |
| 7 Jan 2015 | Marina Gate 1Dubai Marina | 5 B/R | 5,480 | AED 11M | 1,937 | Off-plan |
| 28 Jan 2015 | 23 MarinaDubai Marina | 4 B/R | 5,645 | AED 9.25M | 1,639 | Completed |
| 15 Jan 2015 | Marina Gate 2Dubai Marina | 4 B/R | 3,985 | AED 9.15M | 2,296 | Off-plan |
| 15 Jan 2015 | Residences_E1Downtown Dubai | 3 B/R | 2,379 | AED 8.90M | 3,741 | 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 January 2015, answered
How many properties were sold in Dubai in January 2015?
3,060 residential sales were registered at the Dubai Land Department in January 2015, worth AED 6.1bn: 935 off-plan and 2,125 completed homes. That is 10% fewer than in January 2014, when 3,403 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 January 2015?
The dearest apartment or villa registered was an AED 13M completed four-bedroom home at Marina Residences 2, Palm Jumeirah — 10,254 sq ft at AED 1,258 a square foot, registered on 8 January. Next came AED 13M at Opera Grand, Downtown Dubai, and AED 13M at Residences_W3, 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 January 2015?
Business Bay, with 392 registered sales, 367 of them completed homes; then Damac Hills 2 (289) and Dubai Sports City (263). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,111 across 63 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.