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Dubai property prices › Month by month › July 2015

The Dubai property market in July 2015

In July 2015 the Dubai Land Department registered 1,427 residential sales worth AED 3.6bn — 32% fewer than in July 2014, when it registered 2,100, and about the same by value. Most were completed homes: 1,144, against 283 off-plan. A completed home changed hands at a median AED 1.38M, AED 943 a square foot — 5% less a foot than in July 2014.

Sales registered
1,427
−32% on July 2014 (2,100)
Value
AED 3.6bn
0% on July 2014 (AED 3.6bn)
Off-plan
283
20% of the month · 1,144 completed
Completed homes, median
AED 943
per sq ft · AED 1.38M a home · −5% on July 2014

The month in its year

July 2015 against the twelve months before it

Residential sales registered, by monthOff-planResale1,427 in July 2015
2,100
1,427
J2014ASONDJ2015FMAMJJ

1,427 sales in July 2015 — the fewest in a month since August 2012, against 2,100 in July 2014. Off-plan was 20% of the month, against 33% a year earlier.

Completed homes

What a completed home sold for in July 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
Studio178AED 400K943
1 B/R387AED 812K950
2 B/R247AED 1.73M1,110
4 B/R30AED 2.75M682
3 B/R109AED 2.88M1,104

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
17, 1 July to 30 July. The busiest was 27 July: 147 sales, AED 285m.
Off-plan
283 sales at a median AED 1,030 a square foot — its own line, never blended into the completed-home medians.
Villas
190 of the 1,427, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
169 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 July, 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 Marina15341,182
International City1154683
Dubai Sports City11152968
Jumeirah Village Circle8531915
Downtown Dubai8451,925
Jumeirah Lake Towers70171,158
Palm Jumeirah65371,530
Dubai Silicon Oasis572806
Dubai Production City (IMPZ)5051,012
Business Bay46151,405
Barsha Heights (Tecom)3801,402
Greens3631,303
Discovery Gardens270801
Jumeirah Beach Residence2501,376
The Springs230838
Dearest communityAED/sqftResales
Downtown Dubai1,92579
Palm Jumeirah1,53028
Business Bay1,40531
Barsha Heights (Tecom)1,40238
The Views1,38422
Jumeirah Beach Residence1,37625
Greens1,30333
Dubai Marina1,182149
Jumeirah Lake Towers1,15853
Dubai Production City (IMPZ)1,01245

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 July 2015

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

The dearest was an AED 19M completed four-bedroom home at Le Reve, Dubai Marina — 6,298 sq ft at AED 3,017 a square foot, registered on 28 July.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
28 Jul 2015Le ReveDubai Marina4 B/R6,298AED 19M3,017Completed
22 Jul 2015Balqis Residences-Beach VillasPalm Jumeirah5 B/R18,664AED 16M857Off-plan
30 Jul 2015Dream Palm ResidencePalm Jumeirah4 B/R5,463AED 14M2,500Completed
8 Jul 2015Princess TowerDubai Marina5 B/R6,147AED 11M1,790Completed
28 Jul 2015Seventh HeavenAl Barari3 B/R7,755AED 11M1,409Off-plan
7 Jul 2015Residences_E1Downtown Dubai3 B/R2,599AED 9.50M3,655Completed
9 Jul 2015Residences_E1Downtown Dubai3 B/R2,599AED 9.35M3,598Completed
13 Jul 2015Kempinski Palm ResidencePalm Jumeirah3 B/R4,314AED 7.30M1,692Completed
15 Jul 2015The Residences II - Tower 3Downtown Dubai3 B/R2,082AED 7.25M3,482Completed
8 Jul 2015Royal Amwaj Residences NorthPalm Jumeirah2 B/R1,824AED 7.25M3,975Completed

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 July 2015, answered

How many properties were sold in Dubai in July 2015?

1,427 residential sales were registered at the Dubai Land Department in July 2015, worth AED 3.6bn: 283 off-plan and 1,144 completed homes. That is 32% fewer than in July 2014, when 2,100 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 July 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 3,017 a square foot, registered on 28 July. Next came AED 16M at Balqis Residences-Beach Villas, Palm Jumeirah, and AED 14M at Dream Palm Residence, 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 July 2015?

Dubai Marina, with 153 registered sales, 149 of them completed homes; then International City (115) and Dubai Sports City (111). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,925 across 79 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 Jul 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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