McCone Properties
WhatsApp
Menu

Dubai property prices › Month by month › October 2016

The Dubai property market in October 2016

In October 2016 the Dubai Land Department registered 2,326 residential sales worth AED 4.2bn — 7% more than in October 2015, when it registered 2,171, and 23% more by value. Most were completed homes: 1,509, against 817 off-plan. A completed home changed hands at a median AED 1.05M, AED 885 a square foot — 2% less a foot than in October 2015.

Sales registered
2,326
+7% on October 2015 (2,171)
Value
AED 4.2bn
+23% on October 2015 (AED 3.4bn)
Off-plan
817
35% of the month · 1,509 completed
Completed homes, median
AED 885
per sq ft · AED 1.05M a home · −2% on October 2015

The month in its year

October 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale2,326 in October 2016
2,171
2,326
ONDJ2016FMAMJJASO

2,326 sales in October 2016, against 2,171 in October 2015. Off-plan was 35% of the month, against 36% a year earlier.

Completed homes

What a completed home sold for in October 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
Studio256AED 465K993
1 B/R406AED 795K1,029
2 B/R256AED 1.73M1,095
4 B/R21AED 2.67M1,209
3 B/R119AED 3.00M1,213

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, 3 October to 31 October. The busiest was 10 October: 268 sales, AED 487m.
Off-plan
817 sales at a median AED 1,066 a square foot — its own line, never blended into the completed-home medians.
Villas
518 of the 2,326, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
354 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 October, 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
Damac Hills 22610828
City Walk1761071,380
Business Bay1721021,374
Dubai Sports City149431,044
Dubai Marina138301,362
International City13310686
Jumeirah Village Circle12677889
Al Furjan10186977
Jumeirah Lake Towers8481,225
Town Square7272—
Dubai Silicon Oasis7025903
Jumeirah Village Triangle61551,067
Dubai Production City (IMPZ)545907
Downtown Dubai53131,776
Discovery Gardens490785
Dearest communityAED/sqftResales
Downtown Dubai1,77640
The Views1,64010
Palm Jumeirah1,38832
City Walk1,38069
Business Bay1,37470
Dubai Marina1,362108
Jumeirah Beach Residence1,31719
Greens1,31318
Jumeirah Lake Towers1,22576
Dubai Sports City1,044106

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 October 2016

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

The dearest was an AED 14M off-plan four-bedroom home in the Land Department's Palm Jumeirah area — 5,469 sq ft at AED 2,615 a square foot, registered on 24 October.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
24 Oct 2016Palm Jumeirah4 B/R5,469AED 14M2,615Off-plan
25 Oct 2016Palm Jumeirah4 B/R5,469AED 14M2,532Off-plan
12 Oct 2016The One JBRJumeirah Beach Residence4 B/R3,771AED 13M3,367Off-plan
31 Oct 2016Business Bay2 B/R2,716AED 11M4,200Off-plan
31 Oct 2016Citywalk Residential Building 21BCity Walk4 B/R7,364AED 10M1,413Off-plan
12 Oct 2016Noura TowerBusiness Bay4 B/R3,490AED 9.96M2,855Off-plan
5 Oct 2016West WharfBusiness Bay3 B/R5,829AED 7.65M1,312Completed
11 Oct 2016Rimal 2Jumeirah Beach Residence4 B/R2,882AED 7.50M2,603Completed
25 Oct 2016Burj KhalifaDowntown Dubai3 B/R2,663AED 6.90M2,591Completed
3 Oct 2016Olgana TowerAl Sufouh3 B/R4,837AED 6.77M1,400Off-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 October 2016, answered

How many properties were sold in Dubai in October 2016?

2,326 residential sales were registered at the Dubai Land Department in October 2016, worth AED 4.2bn: 817 off-plan and 1,509 completed homes. That is 7% more than in October 2015, when 2,171 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 October 2016?

The dearest apartment or villa registered was an AED 14M off-plan four-bedroom home in the Land Department's Palm Jumeirah area — 5,469 sq ft at AED 2,615 a square foot, registered on 24 October. Next came AED 14M in the Land Department's Palm Jumeirah area, and AED 13M 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 October 2016?

Damac Hills 2, with 261 registered sales, 261 of them completed homes; then City Walk (176) and Business Bay (172). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,776 across 40 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 Oct 2016.

Talk to us

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.

WhatsAppCall

No mailing lists. One person calls you back. Privacy policy