Dubai property prices › Month by month › October 2015
The Dubai property market in October 2015
In October 2015 the Dubai Land Department registered 2,171 residential sales worth AED 3.4bn — 30% fewer than in October 2014, when it registered 3,097, and 48% less by value. Most were completed homes: 1,383, against 788 off-plan. A completed home changed hands at a median AED 1.25M, AED 906 a square foot — 7% less a foot than in October 2014.
The month in its year
October 2015 against the twelve months before it
2,171 sales in October 2015, against 3,097 in October 2014. Off-plan was 36% of the month, against 45% a year earlier.
Completed homes
What a completed home sold for in October 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 | 325 | AED 575K | 1,001 |
| 1 B/R | 352 | AED 810K | 949 |
| 2 B/R | 223 | AED 1.57M | 1,060 |
| 3 B/R | 98 | AED 2.48M | 992 |
| 4 B/R | 18 | AED 2.60M | 954 |
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, 1 October to 29 October. The busiest was 5 October: 264 sales, AED 495m.
- Off-plan
- 788 sales at a median AED 869 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 390 of the 2,171, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 394 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 October, 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 |
|---|---|---|---|
| Town Square | 189 | 189 | — |
| Mudon | 170 | 0 | 719 |
| Jumeirah Lake Towers | 122 | 17 | 1,112 |
| Dubai Marina | 122 | 18 | 1,371 |
| Al Quoz | 116 | 116 | — |
| Arjan | 109 | 0 | 1,000 |
| Jumeirah Village Circle | 107 | 40 | 890 |
| Dubai Sports City | 105 | 60 | 1,012 |
| International City | 105 | 3 | 737 |
| Palm Jumeirah | 98 | 66 | 1,629 |
| Downtown Dubai | 80 | 10 | 1,762 |
| Liwan | 64 | 2 | 662 |
| Business Bay | 61 | 25 | 1,476 |
| Dubai Production City (IMPZ) | 51 | 6 | 1,041 |
| Zabeel | 48 | 48 | — |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,762 | 70 |
| Palm Jumeirah | 1,629 | 32 |
| Business Bay | 1,476 | 36 |
| Dubai Marina | 1,371 | 104 |
| Greens | 1,348 | 25 |
| Jumeirah Beach Residence | 1,227 | 21 |
| Jumeirah Village Triangle | 1,123 | 11 |
| Jumeirah Lake Towers | 1,112 | 105 |
| Dubai Production City (IMPZ) | 1,041 | 45 |
| Dubai Sports City | 1,012 | 45 |
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 October 2015
The 15 buildings with the most sales registered in October, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Hayat TownhousesTown Square | 180 | all | 582 |
| 2 | Arabella TownhousesMudon | 170 | 0 | 719 |
| 3 | Downtown ViewsZabeel | 48 | all | 1,846 |
| 4 | Lincoln Park - West SideArjan | 47 | 0 | 1,000 |
| 5 | Al Khail Heights 3A-3BAl Quoz | 43 | all | 780 |
| 6 | Monaco ResidencyLiwan | 40 | 0 | 662 |
| 7 | Lincoln Park NorthsideArjan | 38 | 0 | 1,000 |
| 8 | Al Khail Heights 6A-6BAl Quoz | 18 | all | 723 |
| 9 | Oasis Tower 1Dubai Sports City | 18 | all | 919 |
| 10 | Lincoln Park - SheffieldArjan | 17 | 0 | 1,000 |
| 11 | Al Khail Heights 8A-8BAl Quoz | 16 | all | 773 |
| 12 | Carson BDamac Hills | 16 | all | 1,263 |
| 13 | Phoenix TowerDubai Land Residence Complex | 16 | 0 | 640 |
| 14 | Dubai Wharf Tower 2Al Jaddaf | 15 | all | 1,275 |
| 15 | Burj Al NujoomDowntown Dubai | 15 | 0 | 1,536 |
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 October 2015
The dearest was an AED 21M off-plan four-bedroom home at 118 Downtown, Downtown Dubai — 6,558 sq ft at AED 3,247 a square foot, registered on 5 October.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 5 Oct 2015 | 118 DowntownDowntown Dubai | 4 B/R | 6,558 | AED 21M | 3,247 | Off-plan |
| 22 Oct 2015 | The Palm TowerPalm Jumeirah | 3 B/R | 30,731 | AED 13M | 415 | Off-plan |
| 7 Oct 2015 | Seventh HeavenAl Barari | 4 B/R | 8,613 | AED 13M | 1,451 | Off-plan |
| 20 Oct 2015 | Palazzo VersaceCulture Village | 3 B/R | 2,986 | AED 12M | 4,125 | Completed |
| 12 Oct 2015 | Ocean HeightsDubai Marina | 5 B/R | 4,498 | AED 10M | 2,260 | Completed |
| 22 Oct 2015 | Residences_E3Downtown Dubai | 3 B/R | 1,977 | AED 7.80M | 3,945 | Completed |
| 20 Oct 2015 | Serenia Residences Building CPalm Jumeirah | 3 B/R | 2,971 | AED 7.58M | 2,550 | Off-plan |
| 27 Oct 2015 | Serenia Residences Building BPalm Jumeirah | 3 B/R | 4,542 | AED 7.44M | 1,638 | Off-plan |
| 19 Oct 2015 | Burj KhalifaDowntown Dubai | 2 B/R | 2,053 | AED 7.00M | 3,410 | Completed |
| 20 Oct 2015 | Serenia Residences Building CPalm Jumeirah | 3 B/R | 2,895 | AED 6.95M | 2,400 | Off-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 October 2015, answered
How many properties were sold in Dubai in October 2015?
2,171 residential sales were registered at the Dubai Land Department in October 2015, worth AED 3.4bn: 788 off-plan and 1,383 completed homes. That is 30% fewer than in October 2014, when 3,097 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 October 2015?
The dearest apartment or villa registered was an AED 21M off-plan four-bedroom home at 118 Downtown, Downtown Dubai — 6,558 sq ft at AED 3,247 a square foot, registered on 5 October. Next came AED 13M at The Palm Tower, Palm Jumeirah, and AED 13M at Seventh Heaven, Al Barari. 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 October 2015?
Town Square, with 189 registered sales, almost all of them off-plan; then Mudon (170) and Jumeirah Lake Towers (122). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,762 across 70 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.