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Dubai property prices › Month by month › November 2015

The Dubai property market in November 2015

In November 2015 the Dubai Land Department registered 4,017 residential sales worth AED 6.3bn — 30% more than in November 2014, when it registered 3,095, and 4% more by value. Most were homes not yet built: 2,659 off-plan against 1,358 completed. A completed home changed hands at a median AED 1.24M, AED 906 a square foot — 6% less a foot than in November 2014.

Sales registered
4,017
+30% on November 2014 (3,095)
Value
AED 6.3bn
+4% on November 2014 (AED 6.1bn)
Off-plan
2,659
66% of the month · 1,358 completed
Completed homes, median
AED 906
per sq ft · AED 1.24M a home · −6% on November 2014

The month in its year

November 2015 against the twelve months before it

Residential sales registered, by monthOff-planResale4,017 in November 2015
3,095
4,017
NDJ2015FMAMJJASON

4,017 sales in November 2015 — the most in a month since April 2014, against 3,095 in November 2014. Off-plan was 66% of the month, against 30% a year earlier.

Completed homes

What a completed home sold for in November 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
Studio254AED 405K942
1 B/R437AED 700K868
2 B/R233AED 1.50M1,035
3 B/R101AED 2.80M1,091

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, 2 November to 30 November. The busiest was 16 November: 485 sales, AED 666m.
Off-plan
2,659 sales at a median AED 1,005 a square foot — its own line, never blended into the completed-home medians.
Villas
845 of the 4,017, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
288 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 November, 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
Town Square568568—
Dubai Sports City438369967
Damac Hills2762661,004
Dubai Marina2441431,377
Downtown Dubai2101572,076
International City18654724
Palm Jumeirah1751471,385
Dubai Studio City173173—
Al Quoz146146—
Jumeirah Village Circle14588876
Damac Hills 21400877
Dubai Hills Estate124124—
Business Bay114891,374
Dubai Silicon Oasis10812704
Dubai Production City (IMPZ)9519930
Dearest communityAED/sqftResales
Downtown Dubai2,07653
The Views1,53819
Jumeirah Beach Residence1,45329
Palm Jumeirah1,38528
Dubai Marina1,377101
Business Bay1,37425
Greens1,28827
Jumeirah Lake Towers1,19481
Jumeirah Village Triangle1,08012
Dubai Science Park1,02814

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 November 2015

The 15 buildings with the most sales registered in November, 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. All 15 sold only off-plan in November.

The record sales

The dearest homes registered in November 2015

The dearest was an AED 21M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 5,920 sq ft at AED 3,623 a square foot, registered on 23 November.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
23 Nov 2015One at Palm JumeirahPalm Jumeirah4 B/R5,920AED 21M3,623Off-plan
25 Nov 2015118 DowntownDowntown Dubai4 B/R6,558AED 21M3,171Off-plan
4 Nov 2015Marina 101Dubai Marina4 B/R6,491AED 13M2,003Off-plan
9 Nov 2015Marina Gate 2Dubai Marina4 B/R4,656AED 9.90M2,126Off-plan
30 Nov 2015Marina Gate 2Dubai Marina4 B/R4,650AED 9.87M2,123Off-plan
25 Nov 2015Opera GrandDowntown Dubai3 B/R2,042AED 8.38M4,103Off-plan
23 Nov 2015Seventh HeavenAl Barari3 B/R5,705AED 8.38M1,469Off-plan
23 Nov 2015Seventh HeavenAl Barari2 B/R3,846AED 7.50M1,950Off-plan
26 Nov 2015Serenia Residences Building CPalm Jumeirah3 B/R2,820AED 7.33M2,601Off-plan
18 Nov 2015Residences_W3Downtown Dubai3 B/R2,082AED 7.20M3,458Completed

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 November 2015, answered

How many properties were sold in Dubai in November 2015?

4,017 residential sales were registered at the Dubai Land Department in November 2015, worth AED 6.3bn: 2,659 off-plan and 1,358 completed homes. That is 30% more than in November 2014, when 3,095 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 November 2015?

The dearest apartment or villa registered was an AED 21M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 5,920 sq ft at AED 3,623 a square foot, registered on 23 November. Next came AED 21M at 118 Downtown, Downtown Dubai, and AED 13M at Marina 101, Dubai Marina. 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 November 2015?

Town Square, with 568 registered sales, almost all of them off-plan; then Dubai Sports City (438) and Damac Hills (276). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,076 across 53 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 30 Nov 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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