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Dubai property prices › Month by month › January 2016

The Dubai property market in January 2016

In January 2016 the Dubai Land Department registered 2,095 residential sales worth AED 4.0bn — 32% fewer than in January 2015, when it registered 3,060, and 34% less by value. Most were completed homes: 1,312, against 783 off-plan. A completed home changed hands at a median AED 1.50M, AED 925 a square foot — 6% less a foot than in January 2015.

Sales registered
2,095
−32% on January 2015 (3,060)
Value
AED 4.0bn
−34% on January 2015 (AED 6.1bn)
Off-plan
783
37% of the month · 1,312 completed
Completed homes, median
AED 925
per sq ft · AED 1.50M a home · −6% on January 2015

The month in its year

January 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale2,095 in January 2016
3,060
2,095
J2015FMAMJJASONDJ2016

2,095 sales in January 2016 — the fewest in a month since July 2015, against 3,060 in January 2015. Off-plan was 37% of the month, against 31% a year earlier.

Completed homes

What a completed home sold for in January 2016

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
Studio213AED 450K971
1 B/R373AED 812K971
2 B/R190AED 1.60M1,043
3 B/R100AED 2.63M1,031
4 B/R15AED 3.85M1,020

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 January to 28 January. The busiest was 4 January: 254 sales, AED 377m.
Off-plan
783 sales at a median AED 1,022 a square foot — its own line, never blended into the completed-home medians.
Villas
391 of the 2,095, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
344 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 January, 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
Damac Hills 221817888
Dubai Sports City151511,135
Dubai Marina145481,386
International City1378692
Business Bay94531,271
Jumeirah Village Circle9154886
Dubai Hills Estate8282—
Jumeirah Lake Towers80121,132
Damac Hills75671,010
Dubai Studio City7474—
Downtown Dubai66162,097
Palm Jumeirah57211,587
Dubai Production City (IMPZ)5113965
Barsha Heights (Tecom)48461,039
Discovery Gardens470767
Dearest communityAED/sqftResales
Downtown Dubai2,09750
Palm Jumeirah1,58736
The Views1,54212
Meydan1,43919
Dubai Marina1,38697
Greens1,32025
Business Bay1,27141
Jumeirah Beach Residence1,23523
Dubai Sports City1,135100
Jumeirah Lake Towers1,13268

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 January 2016

The 15 buildings with the most sales registered in January, 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 January 2016

The dearest was an AED 17M completed four-bedroom home in the Land Department's Palm Jumeirah area — 5,290 sq ft at AED 3,119 a square foot, registered on 7 January.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
7 Jan 2016Palm Jumeirah4 B/R5,290AED 17M3,119Completed
27 Jan 2016Palazzo VersaceCulture Village4 B/R5,016AED 16M3,140Completed
20 Jan 2016Burj KhalifaDowntown Dubai2 B/R2,172AED 13M5,918Completed
28 Jan 2016Burj KhalifaDowntown Dubai2 B/R2,058AED 11M5,542Completed
11 Jan 2016RP HeightsDowntown Dubai6 B/R3,073AED 11M3,603Off-plan
11 Jan 2016RP HeightsDowntown Dubai4 B/R3,079AED 11M3,596Off-plan
21 Jan 2016Marina Residences 5Palm Jumeirah4 B/R8,203AED 11M1,317Completed
20 Jan 2016The Fairmont Palm Residence SouthPalm JumeirahPENTHOUSE4,354AED 9.30M2,136Completed
4 Jan 2016Burj KhalifaDowntown Dubai2 B/R2,203AED 8.73M3,962Completed
28 Jan 2016Burj KhalifaDowntown Dubai1 B/R1,185AED 6.94M5,854Completed

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 January 2016, answered

How many properties were sold in Dubai in January 2016?

2,095 residential sales were registered at the Dubai Land Department in January 2016, worth AED 4.0bn: 783 off-plan and 1,312 completed homes. That is 32% fewer than in January 2015, when 3,060 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 January 2016?

The dearest apartment or villa registered was an AED 17M completed four-bedroom home in the Land Department's Palm Jumeirah area — 5,290 sq ft at AED 3,119 a square foot, registered on 7 January. Next came AED 16M at Palazzo Versace, Culture Village, and AED 13M at Burj Khalifa, 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 January 2016?

Damac Hills 2, with 218 registered sales, 201 of them completed homes; then Dubai Sports City (151) and Dubai Marina (145). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,097 across 50 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 Jan 2016.

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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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