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Dubai property prices › Month by month › February 2015

The Dubai property market in February 2015

In February 2015 the Dubai Land Department registered 2,600 residential sales worth AED 4.7bn — 14% fewer than in February 2014, when it registered 3,030, and 18% less by value. Most were completed homes: 1,898, against 702 off-plan. A completed home changed hands at a median AED 1.18M, AED 995 a square foot — 5% less a foot than in February 2014.

Sales registered
2,600
−14% on February 2014 (3,030)
Value
AED 4.7bn
−18% on February 2014 (AED 5.8bn)
Off-plan
702
27% of the month · 1,898 completed
Completed homes, median
AED 995
per sq ft · AED 1.18M a home · −5% on February 2014

The month in its year

February 2015 against the twelve months before it

Residential sales registered, by monthOff-planResale2,600 in February 2015
3,030
2,600
F2014MAMJJASONDJ2015F

2,600 sales in February 2015 — the fewest in a month since July 2014, against 3,030 in February 2014. Off-plan was 27% of the month, against 10% a year earlier.

Completed homes

What a completed home sold for in February 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.

LayoutSalesMedian priceAED/sqft
Studio433AED 540K1,134
1 B/R586AED 806K1,001
2 B/R333AED 1.76M1,250
3 B/R109AED 2.80M1,111
4 B/R20AED 3.85M1,218

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, 2 February to 27 February. The busiest was 2 February: 251 sales, AED 378m.
Off-plan
702 sales at a median AED 1,309 a square foot — its own line, never blended into the completed-home medians.
Villas
317 of the 2,600, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
363 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 February, 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
Business Bay255111,768
Dubai Marina238851,457
Arjan17011,033
Damac Hills 21640895
Dubai Creek Harbour (The Lagoons)152152—
Jumeirah Village Circle14016827
International City1265699
Dubai Sports City10441793
Jumeirah Lake Towers100271,311
Downtown Dubai92341,991
Al Quoz8888—
Palm Jumeirah74121,612
Dubai Production City (IMPZ)5915940
Liwan583704
Damac Hills4317942
Dearest communityAED/sqftResales
Downtown Dubai1,99158
Business Bay1,768244
Palm Jumeirah1,61262
Jumeirah Beach Residence1,57027
The Views1,56212
Dubai Marina1,457153
Greens1,36928
Jumeirah Lake Towers1,31173
Jumeirah Village Triangle1,12532
Arjan1,033169

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 February 2015

The 15 buildings with the most sales registered in February, 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 February 2015

The dearest was an AED 16M off-plan four-bedroom home in the Land Department's Palm Jumeirah area — 5,469 sq ft at AED 2,950 a square foot, registered on 11 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
11 Feb 2015Palm Jumeirah4 B/R5,469AED 16M2,950Off-plan
16 Feb 2015Palazzo VersaceCulture Village3 B/R4,895AED 14M2,860Off-plan
16 Feb 2015Marina Residences 1Palm Jumeirah4 B/R10,254AED 13M1,262Completed
3 Feb 2015Opera GrandDowntown Dubai3 B/R2,697AED 11M4,200Off-plan
18 Feb 2015Marina Gate 2Dubai Marina4 B/R5,078AED 11M2,146Off-plan
3 Feb 2015Kempinski Palm ResidencePalm Jumeirah3 B/R2,566AED 11M4,182Completed
23 Feb 2015The Fairmont Palm Residence NorthPalm Jumeirah4 B/R3,170AED 9.50M2,997Completed
10 Feb 2015Residences_E1Downtown Dubai3 B/R2,599AED 9.09M3,496Completed
5 Feb 2015Al Kheeran4 B/R4,026AED 8.13M2,019Completed
26 Feb 2015Business Bay2 B/R2,241AED 8.06M3,599Off-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 February 2015, answered

How many properties were sold in Dubai in February 2015?

2,600 residential sales were registered at the Dubai Land Department in February 2015, worth AED 4.7bn: 702 off-plan and 1,898 completed homes. That is 14% fewer than in February 2014, when 3,030 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 February 2015?

The dearest apartment or villa registered was an AED 16M off-plan four-bedroom home in the Land Department's Palm Jumeirah area — 5,469 sq ft at AED 2,950 a square foot, registered on 11 February. Next came AED 14M at Palazzo Versace, Culture Village, and AED 13M at Marina Residences 1, 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 February 2015?

Business Bay, with 255 registered sales, 244 of them completed homes; then Dubai Marina (238) and Arjan (170). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,991 across 58 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 28 Feb 2015.

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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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