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Dubai property prices › Month by month › March 2015

The Dubai property market in March 2015

In March 2015 the Dubai Land Department registered 2,671 residential sales worth AED 5.9bn — 33% fewer than in March 2014, when it registered 3,987, and 29% less by value. Most were completed homes: 1,823, against 848 off-plan. A completed home changed hands at a median AED 1.46M, AED 1,006 a square foot — 1% more a foot than in March 2014.

Sales registered
2,671
−33% on March 2014 (3,987)
Value
AED 5.9bn
−29% on March 2014 (AED 8.3bn)
Off-plan
848
32% of the month · 1,823 completed
Completed homes, median
AED 1,006
per sq ft · AED 1.46M a home · +1% on March 2014

The month in its year

March 2015 against the twelve months before it

Residential sales registered, by monthOff-planResale2,671 in March 2015
3,987
2,671
M2014AMJJASONDJ2015FM

2,671 sales in March 2015, against 3,987 in March 2014. Off-plan was 32% of the month, against 21% a year earlier.

Completed homes

What a completed home sold for in March 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
Studio332AED 535K1,190
1 B/R527AED 880K1,056
2 B/R308AED 1.64M1,169
3 B/R210AED 2.43M1,113
PENTHOUSE11AED 3.20M897
4 B/R24AED 3.56M887

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
19, 2 March to 31 March. The busiest was 12 March: 440 sales, AED 975m.
Off-plan
848 sales at a median AED 1,463 a square foot — its own line, never blended into the completed-home medians.
Villas
314 of the 2,671, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
357 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 March, 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 Creek Harbour (The Lagoons)236236—
Business Bay216291,770
Greens209151,105
Downtown Dubai1951172,313
Dubai Marina167301,468
Damac Hills 21530878
Jumeirah Lake Towers11831,180
International City11810690
Dubai Sports City113621,023
Jumeirah Village Circle9713898
Damac Hills8168990
Maritime City7171—
Liwan534726
Reem4949—
Palm Jumeirah48131,614
Dearest communityAED/sqftResales
Downtown Dubai2,31378
Business Bay1,770187
Palm Jumeirah1,61435
Jumeirah Beach Residence1,53831
The Views1,50715
Dubai Marina1,468137
Jumeirah Lake Towers1,180115
Jumeirah Village Triangle1,10827
Greens1,105194
Dubai Sports City1,02351

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 March 2015

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

The dearest was an AED 24M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 5,469 a square foot, registered on 2 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
2 Mar 2015Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 24M5,469Completed
9 Mar 2015Palm Jumeirah4 B/R4,166AED 14M3,248Off-plan
12 Mar 2015Opera GrandDowntown Dubai4 B/R3,056AED 13M4,224Off-plan
19 Mar 2015Marina Residences 4Palm Jumeirah4 B/R10,254AED 13M1,248Completed
2 Mar 2015Silverene Tower ADubai Marina4 B/R5,053AED 12M2,375Completed
3 Mar 2015Marina Gate 1Dubai Marina5 B/R5,348AED 11M1,986Off-plan
11 Mar 2015Opera GrandDowntown Dubai3 B/R2,554AED 11M4,132Off-plan
17 Mar 2015Burj KhalifaDowntown Dubai2 B/R1,926AED 10M5,425Completed
25 Mar 2015Seventh HeavenAl Barari3 B/R4,951AED 10M2,030Off-plan
2 Mar 201523 MarinaDubai Marina4 B/R5,645AED 8.37M1,484Completed

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 March 2015, answered

How many properties were sold in Dubai in March 2015?

2,671 residential sales were registered at the Dubai Land Department in March 2015, worth AED 5.9bn: 848 off-plan and 1,823 completed homes. That is 33% fewer than in March 2014, when 3,987 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 March 2015?

The dearest apartment or villa registered was an AED 24M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 5,469 a square foot, registered on 2 March. Next came AED 14M in the Land Department's Palm Jumeirah area, and AED 13M at Opera Grand, 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 March 2015?

Dubai Creek Harbour (The Lagoons), with 236 registered sales, almost all of them off-plan; then Business Bay (216) and Greens (209). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,313 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.

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 Mar 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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