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Dubai property prices › Month by month › May 2016

The Dubai property market in May 2016

In May 2016 the Dubai Land Department registered 2,639 residential sales worth AED 4.9bn — 1% more than in May 2015, when it registered 2,623, and 3% less by value. Most were completed homes: 1,349, against 1,290 off-plan. A completed home changed hands at a median AED 1.30M, AED 902 a square foot — 2% more a foot than in May 2015.

Sales registered
2,639
+1% on May 2015 (2,623)
Value
AED 4.9bn
−3% on May 2015 (AED 5.1bn)
Off-plan
1,290
49% of the month · 1,349 completed
Completed homes, median
AED 902
per sq ft · AED 1.30M a home · +2% on May 2015

The month in its year

May 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale2,639 in May 2016
2,623
2,639
M2015JJASONDJ2016FMAM

2,639 sales in May 2016, against 2,623 in May 2015. Off-plan was 49% of the month, against 35% a year earlier.

Completed homes

What a completed home sold for in May 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
Studio261AED 420K950
1 B/R402AED 786K965
2 B/R223AED 1.51M1,065
3 B/R104AED 2.67M1,134
4 B/R22AED 3.79M1,126

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 May to 31 May. The busiest was 2 May: 466 sales, AED 825m.
Off-plan
1,290 sales at a median AED 1,043 a square foot — its own line, never blended into the completed-home medians.
Villas
571 of the 2,639, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
251 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 May, 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 Hills Estate311240774
Dubai Creek Harbour (The Lagoons)181181—
Dubai Marina171601,345
International City1571710
Downtown Dubai1561032,049
Al Furjan148138896
Jumeirah Village Circle14687871
Dubai Sports City13578887
Jumeirah Lake Towers105191,194
Town Square9797—
Palm Jumeirah71171,634
Business Bay71381,422
Damac Hills 2582918
Dubai Production City (IMPZ)5512882
Dubai Silicon Oasis5513891
Dearest communityAED/sqftResales
Downtown Dubai2,04953
Palm Jumeirah1,63454
Culture Village1,57616
The Views1,51916
Business Bay1,42233
Jumeirah Beach Residence1,35323
Dubai Marina1,345111
Greens1,32830
Jumeirah Lake Towers1,19486
Jumeirah Village Triangle1,07013

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 May 2016

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

The dearest was an AED 27M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 6,077 a square foot, registered on 30 May.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
30 May 2016Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 27M6,077Completed
30 May 2016Burj KhalifaDowntown Dubai2 B/R2,172AED 16M7,181Completed
24 May 2016Business Bay1 B/R3,162AED 13M4,200Off-plan
16 May 2016Al Bateen ResidencesJumeirah Beach ResidencePENTHOUSE6,100AED 13M2,131Completed
19 May 2016Palm Jumeirah4 B/R5,469AED 13M2,375Off-plan
23 May 2016The One JBRJumeirah Beach Residence4 B/R3,773AED 12M3,098Off-plan
9 May 2016The One JBRJumeirah Beach Residence3 B/R3,358AED 10M3,097Off-plan
9 May 2016Kempinski Palm ResidencePalm Jumeirah4 B/R5,859AED 9.97M1,703Completed
2 May 2016Serenia Residences Building CPalm Jumeirah3 B/R2,971AED 8.97M3,019Off-plan
23 May 2016The One JBRJumeirah Beach Residence3 B/R2,581AED 8.00M3,100Off-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 May 2016, answered

How many properties were sold in Dubai in May 2016?

2,639 residential sales were registered at the Dubai Land Department in May 2016, worth AED 4.9bn: 1,290 off-plan and 1,349 completed homes. That is 1% more than in May 2015, when 2,623 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 May 2016?

The dearest apartment or villa registered was an AED 27M completed five-bedroom home at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah — 4,443 sq ft at AED 6,077 a square foot, registered on 30 May. Next came AED 16M at Burj Khalifa, Downtown Dubai, and AED 13M in the Land Department's Business Bay area. 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 May 2016?

Dubai Hills Estate, with 311 registered sales, 240 of them off-plan; then Dubai Creek Harbour (The Lagoons) (181) and Dubai Marina (171). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 2,049 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 31 May 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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