Dubai property prices › Month by month › May 2015
The Dubai property market in May 2015
In May 2015 the Dubai Land Department registered 2,623 residential sales worth AED 5.1bn — 12% fewer than in May 2014, when it registered 2,990, and 8% less by value. Most were completed homes: 1,718, against 905 off-plan. A completed home changed hands at a median AED 1.53M, AED 885 a square foot — 11% less a foot than in May 2014.
The month in its year
May 2015 against the twelve months before it
2,623 sales in May 2015, against 2,990 in May 2014. Off-plan was 35% of the month, against 32% a year earlier.
Completed homes
What a completed home sold for in May 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 | 282 | AED 440K | 957 |
| 1 B/R | 462 | AED 833K | 1,006 |
| 2 B/R | 277 | AED 1.58M | 1,122 |
| 3 B/R | 97 | AED 3.01M | 1,146 |
| 4 B/R | 12 | AED 5.84M | 1,261 |
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
- 16, 4 May to 28 May. The busiest was 18 May: 331 sales, AED 603m.
- Off-plan
- 905 sales at a median AED 1,150 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 400 of the 2,623, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 529 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 May, 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 |
|---|---|---|---|
| Dubai Sports City | 317 | 198 | 1,219 |
| Dubai Marina | 263 | 156 | 1,380 |
| Damac Hills 2 | 258 | 0 | 848 |
| International City | 162 | 5 | 692 |
| Downtown Dubai | 118 | 66 | 1,833 |
| Jumeirah Village Circle | 92 | 43 | 893 |
| Jumeirah Lake Towers | 88 | 7 | 1,228 |
| Business Bay | 86 | 32 | 1,488 |
| Palm Jumeirah | 73 | 32 | 1,835 |
| Dubai Science Park | 66 | 0 | 974 |
| Al Quoz | 65 | 65 | — |
| Dubai Production City (IMPZ) | 64 | 36 | 953 |
| Meydan | 60 | 9 | 796 |
| Dubai Silicon Oasis | 57 | 3 | 810 |
| Dubai Creek Harbour (The Lagoons) | 50 | 50 | — |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,835 | 41 |
| Downtown Dubai | 1,833 | 52 |
| Jumeirah Beach Residence | 1,757 | 23 |
| Business Bay | 1,488 | 54 |
| The Views | 1,482 | 21 |
| Dubai Marina | 1,380 | 107 |
| Greens | 1,335 | 30 |
| Jumeirah Lake Towers | 1,228 | 81 |
| Dubai Sports City | 1,219 | 119 |
| Arjan | 1,151 | 20 |
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 May 2015
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Grand Horizon 1Dubai Sports City | 112 | all | 903 |
| 2 | Escan TowerDubai Marina | 96 | all | 1,150 |
| 3 | JanusiaDamac Hills 2 | 65 | 0 | 848 |
| 4 | Millennium EstatesMeydan | 51 | 0 | 796 |
| 5 | PrimroseDamac Hills 2 | 49 | 0 | 1,119 |
| 6 | The BridgeDubai Sports City | 46 | 0 | 1,566 |
| 7 | Marina Gate 2Dubai Marina | 45 | all | 2,189 |
| 8 | Villa Lantana 1Dubai Science Park | 44 | 0 | 977 |
| 9 | CentauryDamac Hills 2 | 42 | 0 | 848 |
| 10 | BLVD Heights Tower 2Downtown Dubai | 35 | all | 1,946 |
| 11 | Phoenix TowerDubai Land Residence Complex | 32 | 0 | 773 |
| 12 | Qasr Sabah 1Dubai Production City (IMPZ) | 31 | all | 1,517 |
| 13 | Reef ResidenceJumeirah Village Circle | 29 | all | 879 |
| 14 | Elite Sports Residence 9Dubai Sports City | 28 | all | 1,109 |
| 15 | ZinniaDamac Hills 2 | 27 | 0 | 848 |
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 May 2015
The dearest was an AED 19M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 2,937 a square foot, registered on 28 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 28 May 2015 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 19M | 2,937 | Completed |
| 28 May 2015 | Opera GrandDowntown Dubai | 4 B/R | 3,029 | AED 13M | 4,182 | Off-plan |
| 7 May 2015 | Opera GrandDowntown Dubai | 4 B/R | 3,029 | AED 12M | 4,085 | Off-plan |
| 18 May 2015 | Wadi Al Safa 3 | 4 B/R | 2,583 | AED 11M | 4,348 | Off-plan |
| 28 May 2015 | Opera GrandDowntown Dubai | 3 B/R | 2,517 | AED 11M | 4,319 | Off-plan |
| 28 May 2015 | Opera GrandDowntown Dubai | 3 B/R | 2,555 | AED 11M | 4,113 | Off-plan |
| 28 May 2015 | The Fairmont Palm Residence SouthPalm Jumeirah | 3 B/R | 3,538 | AED 10M | 2,826 | Completed |
| 11 May 2015 | Al HaseerPalm Jumeirah | 4 B/R | 5,236 | AED 10M | 1,910 | Completed |
| 25 May 2015 | Boulevard PointDowntown Dubai | 4 B/R | 5,761 | AED 8.55M | 1,484 | Off-plan |
| 13 May 2015 | Kempinski Palm ResidencePalm Jumeirah | 3 B/R | 4,244 | AED 8.50M | 2,003 | 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 May 2015, answered
How many properties were sold in Dubai in May 2015?
2,623 residential sales were registered at the Dubai Land Department in May 2015, worth AED 5.1bn: 905 off-plan and 1,718 completed homes. That is 12% fewer than in May 2014, when 2,990 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 May 2015?
The dearest apartment or villa registered was an AED 19M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 2,937 a square foot, registered on 28 May. Next came AED 13M at Opera Grand, Downtown Dubai, and AED 12M 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 May 2015?
Dubai Sports City, with 317 registered sales, 198 of them off-plan; then Dubai Marina (263) and Damac Hills 2 (258). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,835 across 41 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.