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Dubai property prices › Month by month › July 2016

The Dubai property market in July 2016

In July 2016 the Dubai Land Department registered 2,723 residential sales worth AED 5.7bn — 91% more than in July 2015, when it registered 1,427, and 57% more by value. Most were homes not yet built: 1,746 off-plan against 977 completed. A completed home changed hands at a median AED 1.66M, AED 1,095 a square foot — 16% more a foot than in July 2015.

Sales registered
2,723
+91% on July 2015 (1,427)
Value
AED 5.7bn
+57% on July 2015 (AED 3.6bn)
Off-plan
1,746
64% of the month · 977 completed
Completed homes, median
AED 1,095
per sq ft · AED 1.66M a home · +16% on July 2015

The month in its year

July 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale2,723 in July 2016
1,427
2,723
J2015ASONDJ2016FMAMJJ

2,723 sales in July 2016 — the most in a month since February 2016, against 1,427 in July 2015. Off-plan was 64% of the month, against 20% a year earlier.

Completed homes

What a completed home sold for in July 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
Studio143AED 450K958
1 B/R298AED 900K1,052
2 B/R227AED 2.30M1,349
3 B/R135AED 3.20M1,305
4 B/R20AED 3.78M1,232

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
12, 11 July to 28 July. The busiest was 18 July: 394 sales, AED 671m.
Off-plan
1,746 sales at a median AED 1,212 a square foot — its own line, never blended into the completed-home medians.
Villas
321 of the 2,723, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
240 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 July, 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
Downtown Dubai3613341,953
Al Furjan305298918
Dubai Creek Harbour (The Lagoons)227227—
Dubai Marina2261421,354
City Walk20041,383
Town Square198198—
Dubai Hills Estate172144795
Dubai Sports City9262982
Business Bay91551,330
International City904713
Jumeirah Village Circle8856910
Jumeirah Lake Towers66121,142
Liwan4532694
Discovery Gardens370755
Dubai South (Dubai World Central)35341,511
Dearest communityAED/sqftResales
Downtown Dubai1,95327
The Views1,54418
Palm Jumeirah1,41921
City Walk1,383196
Dubai Marina1,35484
Business Bay1,33036
Jumeirah Beach Residence1,30010
Greens1,27624
Jumeirah Lake Towers1,14254
Dubai Sports City98230

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 July 2016

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

The dearest was an AED 44M off-plan five-bedroom home at IL Primo, Downtown Dubai — 11,550 sq ft at AED 3,777 a square foot, registered on 12 July.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
12 Jul 2016IL PrimoDowntown Dubai5 B/R11,550AED 44M3,777Off-plan
25 Jul 2016The Address Residences Dubai Opera Tower 1Downtown Dubai4 B/R6,808AED 27M4,022Off-plan
25 Jul 2016The Address Residences Dubai Opera Tower 1Downtown Dubai4 B/R6,343AED 26M4,049Off-plan
25 Jul 2016The Address Residences Dubai Opera Tower 1Downtown Dubai5 B/R6,152AED 25M4,021Off-plan
28 Jul 2016The Address Residences Dubai Opera Tower 1Downtown Dubai5 B/R5,889AED 23M3,867Off-plan
18 Jul 2016IL PrimoDowntown Dubai4 B/R5,383AED 19M3,517Off-plan
12 Jul 2016IL PrimoDowntown Dubai4 B/R5,383AED 18M3,412Off-plan
18 Jul 2016IL PrimoDowntown Dubai4 B/R5,253AED 18M3,492Off-plan
12 Jul 2016IL PrimoDowntown Dubai4 B/R5,383AED 18M3,351Off-plan
27 Jul 2016IL PrimoDowntown Dubai4 B/R5,253AED 18M3,419Off-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 July 2016, answered

How many properties were sold in Dubai in July 2016?

2,723 residential sales were registered at the Dubai Land Department in July 2016, worth AED 5.7bn: 1,746 off-plan and 977 completed homes. That is 91% more than in July 2015, when 1,427 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 July 2016?

The dearest apartment or villa registered was an AED 44M off-plan five-bedroom home at IL Primo, Downtown Dubai — 11,550 sq ft at AED 3,777 a square foot, registered on 12 July. Next came AED 27M at The Address Residences Dubai Opera Tower 1, Downtown Dubai, and AED 26M at The Address Residences Dubai Opera Tower 1, 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 July 2016?

Downtown Dubai, with 361 registered sales, almost all of them off-plan; then Al Furjan (305) and Dubai Creek Harbour (The Lagoons) (227). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,953 across 27 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 Jul 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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