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Dubai property prices › Month by month › December 2015

The Dubai property market in December 2015

In December 2015 the Dubai Land Department registered 3,307 residential sales worth AED 5.4bn — 16% fewer than in December 2014, when it registered 3,922, and 24% less by value. Most were completed homes: 1,675, against 1,632 off-plan. A completed home changed hands at a median AED 1.26M, AED 866 a square foot — 12% less a foot than in December 2014.

Sales registered
3,307
−16% on December 2014 (3,922)
Value
AED 5.4bn
−24% on December 2014 (AED 7.1bn)
Off-plan
1,632
49% of the month · 1,675 completed
Completed homes, median
AED 866
per sq ft · AED 1.26M a home · −12% on December 2014

The month in its year

December 2015 against the twelve months before it

Residential sales registered, by monthOff-planResale3,307 in December 2015
3,922
3,307
DJ2015FMAMJJASOND

3,307 sales in December 2015, against 3,922 in December 2014. Off-plan was 49% of the month, against 40% a year earlier.

Completed homes

What a completed home sold for in December 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
Studio327AED 475K981
1 B/R477AED 850K950
2 B/R268AED 1.63M1,082
3 B/R102AED 2.35M920
4 B/R16AED 3.50M1,100

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
14, 7 December to 30 December. The busiest was 7 December: 446 sales, AED 635m.
Off-plan
1,632 sales at a median AED 900 a square foot — its own line, never blended into the completed-home medians.
Villas
419 of the 3,307, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
453 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 December, 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 Square670670—
Dubai Sports City3561191,388
Dubai Marina175541,235
International City16416718
Downtown Dubai156981,779
Dubai Studio City117117—
Jumeirah Lake Towers116371,103
Dubai Hills Estate113112424
Jumeirah Village Circle10845850
Business Bay100591,322
Damac Hills 2863932
Dubai Silicon Oasis791781
Dubai Production City (IMPZ)7629958
Mudon720762
Palm Jumeirah65361,575
Dearest communityAED/sqftResales
Downtown Dubai1,77958
The Views1,64616
Palm Jumeirah1,57529
Dubai Sports City1,388237
Jumeirah Beach Residence1,33639
Business Bay1,32241
Greens1,28232
Dubai Marina1,235121
Jumeirah Lake Towers1,10379
Damac Hills1,02613

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 December 2015

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

The dearest was an AED 38M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 8,454 a square foot, registered on 8 December.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
8 Dec 2015Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 38M8,454Completed
8 Dec 2015Kempinski Palm ResidencePalm Jumeirah4 B/R13,976AED 20M1,431Completed
16 Dec 2015118 DowntownDowntown Dubai4 B/R6,558AED 20M3,050Off-plan
21 Dec 2015Al Seef Tower 1Jumeirah Lake Towers5 B/R7,606AED 13M1,643Completed
21 Dec 2015Palazzo VersaceCulture Village3 B/R3,795AED 12M3,267Completed
14 Dec 2015The Fairmont Palm Residence NorthPalm Jumeirah3 B/R4,072AED 10M2,465Completed
21 Dec 2015One at Palm JumeirahPalm Jumeirah4 B/R3,128AED 9.72M3,107Off-plan
22 Dec 2015Attareen ResidencesDowntown Dubai2 B/R3,062AED 8.50M2,776Completed
30 Dec 2015Residences_E1Downtown Dubai3 B/R2,379AED 8.50M3,573Completed
30 Dec 2015Serenia Residences Building CPalm Jumeirah3 B/R2,971AED 7.32M2,463Off-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 December 2015, answered

How many properties were sold in Dubai in December 2015?

3,307 residential sales were registered at the Dubai Land Department in December 2015, worth AED 5.4bn: 1,632 off-plan and 1,675 completed homes. That is 16% fewer than in December 2014, when 3,922 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 December 2015?

The dearest apartment or villa registered was an AED 38M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 8,454 a square foot, registered on 8 December. Next came AED 20M at Kempinski Palm Residence, Palm Jumeirah, and AED 20M at 118 Downtown, 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 December 2015?

Town Square, with 670 registered sales, almost all of them off-plan; then Dubai Sports City (356) and Dubai Marina (175). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,779 across 58 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 Dec 2015.

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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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