Dubai property prices › Month by month › August 2016
The Dubai property market in August 2016
In August 2016 the Dubai Land Department registered 3,025 residential sales worth AED 6.6bn — 29% more than in August 2015, when it registered 2,346, and 42% more by value. Most were homes not yet built: 1,732 off-plan against 1,293 completed. A completed home changed hands at a median AED 1.31M, AED 922 a square foot — 8% more a foot than in August 2015.
The month in its year
August 2016 against the twelve months before it
3,025 sales in August 2016 — the most in a month since February 2016, against 2,346 in August 2015. Off-plan was 57% of the month, against 36% a year earlier.
Completed homes
What a completed home sold for in August 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 247 | AED 425K | 941 |
| 1 B/R | 381 | AED 800K | 954 |
| 2 B/R | 231 | AED 1.65M | 1,070 |
| 3 B/R | 94 | AED 2.69M | 1,007 |
| 4 B/R | 12 | AED 3.92M | 1,143 |
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 August to 31 August. The busiest was 1 August: 428 sales, AED 1.2bn.
- Off-plan
- 1,732 sales at a median AED 1,338 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 414 of the 3,025, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 236 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 August, 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 community | Sales | Off-plan | Completed AED/sqft |
|---|---|---|---|
| Dubai Marina | 277 | 167 | 1,321 |
| Downtown Dubai | 262 | 215 | 1,866 |
| Business Bay | 187 | 148 | 1,396 |
| Dubai Hills Estate | 186 | 128 | 917 |
| City Walk | 180 | 178 | 1,264 |
| Al Furjan | 159 | 148 | 931 |
| Jumeirah Village Circle | 146 | 90 | 838 |
| International City | 144 | 3 | 702 |
| Dubai Sports City | 128 | 55 | 990 |
| Town Square | 95 | 95 | — |
| Dubai Creek Harbour (The Lagoons) | 95 | 95 | — |
| Liwan | 76 | 65 | 700 |
| Jumeirah Lake Towers | 71 | 3 | 1,204 |
| Zabeel | 65 | 65 | — |
| Dubai Silicon Oasis | 60 | 16 | 802 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,866 | 47 |
| Palm Jumeirah | 1,579 | 41 |
| The Views | 1,541 | 20 |
| Jumeirah Golf Estates | 1,407 | 19 |
| Business Bay | 1,396 | 39 |
| Dubai Marina | 1,321 | 110 |
| Greens | 1,319 | 25 |
| Jumeirah Beach Residence | 1,306 | 28 |
| Jumeirah Lake Towers | 1,204 | 68 |
| Jumeirah Village Triangle | 1,070 | 14 |
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 August 2016
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | The Address Residences Dubai Opera Tower 1Downtown Dubai | 98 | all | 2,829 |
| 2 | Citywalk Residential Building 10City Walk | 80 | all | 1,405 |
| 3 | The Address Residences Dubai Opera Tower 2Downtown Dubai | 73 | all | 2,834 |
| 4 | 5242 Tower 1Dubai Marina | 72 | all | 1,921 |
| 5 | Glamz 2Al Furjan | 66 | all | 1,168 |
| 6 | Downtown ViewsZabeel | 65 | all | 1,880 |
| 7 | Citywalk Residential Building 22City Walk | 64 | all | 1,371 |
| 8 | Harbour Views 2Dubai Creek Harbour (The Lagoons) | 53 | all | 1,427 |
| 9 | 5242 Tower 2Dubai Marina | 49 | all | 1,869 |
| 10 | Glamz 1Al Furjan | 48 | all | 1,116 |
| 11 | Merano TowerBusiness Bay | 46 | all | 1,607 |
| 12 | Maple at Dubai Hills Estate 2Dubai Hills Estate | 44 | all | 887 |
| 13 | Acacia ADubai Hills Estate | 42 | all | 1,096 |
| 14 | Grand ViewsMeydan | 41 | 37 | — |
| 15 | Citywalk Residential Building 21ACity Walk | 32 | all | 1,629 |
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 August 2016
The dearest was an AED 42M off-plan five-bedroom home at The Address Residences Dubai Opera Tower 1, Downtown Dubai — 10,427 sq ft at AED 4,042 a square foot, registered on 8 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 8 Aug 2016 | The Address Residences Dubai Opera Tower 1Downtown Dubai | 5 B/R | 10,427 | AED 42M | 4,042 | Off-plan |
| 2 Aug 2016 | The Address Residences Dubai Opera Tower 1Downtown Dubai | 5 B/R | 6,118 | AED 25M | 4,017 | Off-plan |
| 23 Aug 2016 | Palazzo VersaceCulture Village | 5 B/R | 12,937 | AED 20M | 1,546 | Completed |
| 1 Aug 2016 | IL PrimoDowntown Dubai | 4 B/R | 5,253 | AED 19M | 3,551 | Off-plan |
| 1 Aug 2016 | IL PrimoDowntown Dubai | 4 B/R | 5,253 | AED 18M | 3,518 | Off-plan |
| 2 Aug 2016 | IL PrimoDowntown Dubai | 4 B/R | 5,253 | AED 18M | 3,512 | Off-plan |
| 1 Aug 2016 | The One JBRJumeirah Beach Residence | 4 B/R | 3,808 | AED 13M | 3,361 | Off-plan |
| 16 Aug 2016 | Citywalk Residential Building 21ACity Walk | 4 B/R | 7,364 | AED 9.96M | 1,352 | Off-plan |
| 8 Aug 2016 | Rimal 2Jumeirah Beach Residence | PENTHOUSE | 5,713 | AED 8.85M | 1,549 | Completed |
| 29 Aug 2016 | Citywalk Residential Building 13ACity Walk | 4 B/R | 7,362 | AED 8.36M | 1,136 | Completed |
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 August 2016, answered
How many properties were sold in Dubai in August 2016?
3,025 residential sales were registered at the Dubai Land Department in August 2016, worth AED 6.6bn: 1,732 off-plan and 1,293 completed homes. That is 29% more than in August 2015, when 2,346 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 August 2016?
The dearest apartment or villa registered was an AED 42M off-plan five-bedroom home at The Address Residences Dubai Opera Tower 1, Downtown Dubai — 10,427 sq ft at AED 4,042 a square foot, registered on 8 August. Next came AED 25M at The Address Residences Dubai Opera Tower 1, Downtown Dubai, and AED 20M at Palazzo Versace, Culture Village. 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 August 2016?
Dubai Marina, with 277 registered sales, 167 of them off-plan; then Downtown Dubai (262) and Business Bay (187). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,866 across 47 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.