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Dubai property prices › Month by month › March 2016

The Dubai property market in March 2016

In March 2016 the Dubai Land Department registered 1,856 residential sales worth AED 3.7bn — 31% fewer than in March 2015, when it registered 2,671, and 38% less by value. Most were completed homes: 1,120, against 736 off-plan. A completed home changed hands at a median AED 1.15M, AED 923 a square foot — 8% less a foot than in March 2015.

Sales registered
1,856
−31% on March 2015 (2,671)
Value
AED 3.7bn
−38% on March 2015 (AED 5.9bn)
Off-plan
736
40% of the month · 1,120 completed
Completed homes, median
AED 923
per sq ft · AED 1.15M a home · −8% on March 2015

The month in its year

March 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale1,856 in March 2016
2,671
1,856
M2015AMJJASONDJ2016FM

1,856 sales in March 2016 — the fewest in a month since July 2015, against 2,671 in March 2015. Off-plan was 40% of the month, against 32% a year earlier.

Completed homes

What a completed home sold for in March 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
Studio234AED 410K952
1 B/R383AED 815K935
2 B/R199AED 1.57M1,044
3 B/R88AED 2.48M1,096
4 B/R26AED 3.13M1,190

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
19, 1 March to 31 March. The busiest was 28 March: 166 sales, AED 403m.
Off-plan
736 sales at a median AED 1,010 a square foot — its own line, never blended into the completed-home medians.
Villas
277 of the 1,856, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
104 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 March, 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
Dubai Sports City17596949
Dubai Marina159701,404
International City1343676
Downtown Dubai123651,995
Jumeirah Village Circle11553810
Jumeirah Lake Towers101291,061
Business Bay74291,302
Dubai Hills Estate6664360
Dubai Production City (IMPZ)53151,007
Liwan5211710
Town Square4949—
Dubai Silicon Oasis4819810
Palm Jumeirah48171,581
Dubai Creek Harbour (The Lagoons)4141—
Jumeirah Beach Residence3851,286
Dearest communityAED/sqftResales
Downtown Dubai1,99558
Palm Jumeirah1,58131
The Views1,56620
Dubai Marina1,40489
Greens1,32124
Business Bay1,30245
Jumeirah Beach Residence1,28633
Jumeirah Lake Towers1,06172
Dubai Production City (IMPZ)1,00738
Dubai Sports City94979

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 March 2016

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

The dearest was an AED 22M off-plan four-bedroom home at 118 Downtown, Downtown Dubai — 6,558 sq ft at AED 3,377 a square foot, registered on 17 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
17 Mar 2016118 DowntownDowntown Dubai4 B/R6,558AED 22M3,377Off-plan
9 Mar 2016Palazzo VersaceCulture Village3 B/R6,404AED 15M2,342Completed
2 Mar 2016The One JBRJumeirah Beach Residence4 B/R3,774AED 12M3,161Off-plan
21 Mar 2016The Fairmont Palm Residence NorthPalm JumeirahPENTHOUSE4,121AED 9.18M2,226Completed
17 Mar 2016Marina Residences 1Palm Jumeirah4 B/R6,820AED 9.00M1,320Completed
14 Mar 2016AL ANBER VillaDubai Marina5 B/R4,961AED 8.50M1,713Completed
3 Mar 2016The One JBRJumeirah Beach Residence3 B/R2,576AED 7.94M3,083Off-plan
7 Mar 2016Royal Amwaj Residences NorthPalm Jumeirah2 B/R2,873AED 7.50M2,610Completed
23 Mar 2016The One JBRJumeirah Beach Residence3 B/R2,590AED 7.36M2,842Off-plan
7 Mar 2016Opera GrandDowntown Dubai3 B/R2,042AED 7.20M3,525Off-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 March 2016, answered

How many properties were sold in Dubai in March 2016?

1,856 residential sales were registered at the Dubai Land Department in March 2016, worth AED 3.7bn: 736 off-plan and 1,120 completed homes. That is 31% fewer than in March 2015, when 2,671 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 March 2016?

The dearest apartment or villa registered was an AED 22M off-plan four-bedroom home at 118 Downtown, Downtown Dubai — 6,558 sq ft at AED 3,377 a square foot, registered on 17 March. Next came AED 15M at Palazzo Versace, Culture Village, and AED 12M at The One JBR, Jumeirah Beach Residence. 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 March 2016?

Dubai Sports City, with 175 registered sales, 96 of them off-plan; then Dubai Marina (159) and International City (134). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,995 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 Mar 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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