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Dubai property prices › Month by month › February 2016

The Dubai property market in February 2016

In February 2016 the Dubai Land Department registered 3,187 residential sales worth AED 5.2bn — 23% more than in February 2015, when it registered 2,600, and 10% more by value. Most were homes not yet built: 1,733 off-plan against 1,454 completed. A completed home changed hands at a median AED 1.25M, AED 916 a square foot — 8% less a foot than in February 2015.

Sales registered
3,187
+23% on February 2015 (2,600)
Value
AED 5.2bn
+10% on February 2015 (AED 4.7bn)
Off-plan
1,733
54% of the month · 1,454 completed
Completed homes, median
AED 916
per sq ft · AED 1.25M a home · −8% on February 2015

The month in its year

February 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale3,187 in February 2016
2,600
3,187
F2015MAMJJASONDJ2016F

3,187 sales in February 2016, against 2,600 in February 2015. Off-plan was 54% of the month, against 27% a year earlier.

Completed homes

What a completed home sold for in February 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
Studio287AED 413K920
1 B/R435AED 795K908
2 B/R206AED 1.40M1,061
3 B/R81AED 2.85M1,194
4 B/R20AED 3.80M1,086

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 February to 29 February. The busiest was 8 February: 374 sales, AED 590m.
Off-plan
1,733 sales at a median AED 1,020 a square foot — its own line, never blended into the completed-home medians.
Villas
385 of the 3,187, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
357 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 February, 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 Square338338—
Dubai Production City (IMPZ)2792471,011
Damac Hills 225181918
Dubai Marina219961,310
Downtown Dubai2101522,014
International City16214693
Dubai Sports City16268911
Jumeirah Village Circle14077810
Business Bay138791,311
Dubai Hills Estate121120357
Jumeirah Lake Towers90191,092
Dubai Creek Harbour (The Lagoons)7272—
Palm Jumeirah67311,477
Dubai Land Residence Complex580796
Meydan55321,398
Dearest communityAED/sqftResales
Downtown Dubai2,01458
The Views1,57912
Palm Jumeirah1,47736
Meydan1,39823
Business Bay1,31159
Dubai Marina1,310123
Greens1,29621
Jumeirah Beach Residence1,26332
Jumeirah Lake Towers1,09271
Dubai Production City (IMPZ)1,01132

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 February 2016

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

The dearest was an AED 25M completed three-bedroom home at Royal Amwaj Residences South, Palm Jumeirah — 9,905 sq ft at AED 2,473 a square foot, registered on 23 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
23 Feb 2016Royal Amwaj Residences SouthPalm Jumeirah3 B/R9,905AED 25M2,473Completed
23 Feb 2016One at Palm JumeirahPalm Jumeirah4 B/R6,445AED 22M3,341Off-plan
10 Feb 2016One at Palm JumeirahPalm Jumeirah4 B/R6,601AED 21M3,196Off-plan
29 Feb 2016One at Palm JumeirahPalm Jumeirah4 B/R6,744AED 21M3,075Off-plan
9 Feb 2016Emerald Palace Kempinski HotelPalm Jumeirah5 B/R12,277AED 19M1,548Off-plan
8 Feb 2016Opera GrandDowntown Dubai4 B/R3,049AED 13M4,235Off-plan
29 Feb 2016Trident Grand ResidenceDubai MarinaPENTHOUSE5,743AED 12M2,095Completed
23 Feb 2016RP HeightsDowntown Dubai4 B/R3,069AED 12M3,784Off-plan
22 Feb 2016The One JBRJumeirah Beach Residence4 B/R3,771AED 12M3,068Off-plan
4 Feb 2016The Fairmont Palm Residence NorthPalm JumeirahPENTHOUSE11,378AED 11M967Completed

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 February 2016, answered

How many properties were sold in Dubai in February 2016?

3,187 residential sales were registered at the Dubai Land Department in February 2016, worth AED 5.2bn: 1,733 off-plan and 1,454 completed homes. That is 23% more than in February 2015, when 2,600 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 February 2016?

The dearest apartment or villa registered was an AED 25M completed three-bedroom home at Royal Amwaj Residences South, Palm Jumeirah — 9,905 sq ft at AED 2,473 a square foot, registered on 23 February. Next came AED 22M at One at Palm Jumeirah, Palm Jumeirah, and AED 21M at One at Palm Jumeirah, 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 February 2016?

Town Square, with 338 registered sales, almost all of them off-plan; then Dubai Production City (IMPZ) (279) and Damac Hills 2 (251). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,014 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 29 Feb 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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