Dubai property prices › Month by month › November 2016
The Dubai property market in November 2016
In November 2016 the Dubai Land Department registered 2,676 residential sales worth AED 4.2bn — 33% fewer than in November 2015, when it registered 4,017, and 34% less by value. Most were completed homes: 1,816, against 860 off-plan. A completed home changed hands at a median AED 1.02M, AED 837 a square foot — 8% less a foot than in November 2015.
The month in its year
November 2016 against the twelve months before it
2,676 sales in November 2016, against 4,017 in November 2015. Off-plan was 32% of the month, against 66% a year earlier.
Completed homes
What a completed home sold for in November 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 | 319 | AED 420K | 983 |
| 1 B/R | 426 | AED 775K | 965 |
| 2 B/R | 273 | AED 1.62M | 1,068 |
| 3 B/R | 129 | AED 2.60M | 914 |
| 4 B/R | 41 | AED 2.95M | 721 |
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
- 18, 1 November to 30 November. The busiest was 28 November: 350 sales, AED 552m.
- Off-plan
- 860 sales at a median AED 971 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 507 of the 2,676, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 561 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 November, 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 |
|---|---|---|---|
| Damac Hills 2 | 434 | 1 | 828 |
| Dubai Sports City | 180 | 65 | 976 |
| International City | 168 | 9 | 671 |
| Town Square | 166 | 166 | — |
| Dubai Marina | 157 | 23 | 1,406 |
| Jumeirah Village Circle | 148 | 90 | 844 |
| Business Bay | 104 | 62 | 1,466 |
| City Walk | 103 | 89 | 1,742 |
| Jumeirah Lake Towers | 88 | 9 | 1,166 |
| Al Furjan | 82 | 56 | 829 |
| Dubai Production City (IMPZ) | 75 | 15 | 870 |
| Dubai Silicon Oasis | 67 | 9 | 886 |
| Palm Jumeirah | 63 | 8 | 1,308 |
| Downtown Dubai | 55 | 8 | 1,871 |
| Reem | 55 | 21 | 713 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,871 | 47 |
| City Walk | 1,742 | 14 |
| Business Bay | 1,466 | 42 |
| The Views | 1,463 | 21 |
| Dubai Marina | 1,406 | 134 |
| Greens | 1,398 | 23 |
| Palm Jumeirah | 1,308 | 55 |
| Jumeirah Beach Residence | 1,306 | 22 |
| Jumeirah Lake Towers | 1,166 | 79 |
| Discovery Gardens | 990 | 41 |
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 November 2016
The 15 buildings with the most sales registered in November, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | AlbiziaDamac Hills 2 | 205 | 0 | 828 |
| 2 | Safi TownhousesTown Square | 96 | all | 661 |
| 3 | VardonDamac Hills 2 | 93 | 0 | 828 |
| 4 | BasswoodDamac Hills 2 | 79 | 0 | 828 |
| 5 | Citywalk Residential Building 9City Walk | 68 | all | 1,359 |
| 6 | Hayat Boulevard 1BTown Square | 38 | all | 973 |
| 7 | Lakeside Tower BDubai Production City (IMPZ) | 25 | 0 | 849 |
| 8 | May Residence 2Jumeirah Village Circle | 24 | all | 861 |
| 9 | Miraclz Tower by DanubeArjan | 23 | all | 1,180 |
| 10 | BelgraviaJumeirah Village Circle | 23 | all | 950 |
| 11 | Elite Sports Residence 9Dubai Sports City | 22 | 0 | 1,064 |
| 12 | Mira 2Reem | 19 | 0 | 708 |
| 13 | PacificaDamac Hills 2 | 18 | 0 | 974 |
| 14 | Mazaya 7Liwan | 18 | all | 712 |
| 15 | Terhab Tower 1Jumeirah Village Triangle | 18 | all | 1,543 |
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 November 2016
The dearest was an AED 30M completed five-bedroom home at Le Reve, Dubai Marina — 14,349 sq ft at AED 2,070 a square foot, registered on 28 November.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 28 Nov 2016 | Le ReveDubai Marina | 5 B/R | 14,349 | AED 30M | 2,070 | Completed |
| 16 Nov 2016 | The Residences II - Tower 1Downtown Dubai | 4 B/R | 3,507 | AED 9.50M | 2,709 | Completed |
| 17 Nov 2016 | Olgana TowerAl Sufouh | 4 B/R | 5,910 | AED 8.27M | 1,400 | Off-plan |
| 15 Nov 2016 | Al Fairooz VillasDubai Marina | 3 B/R | 5,267 | AED 8.00M | 1,519 | Completed |
| 15 Nov 2016 | Al Fairooz VillasDubai Marina | 3 B/R | 3,951 | AED 8.00M | 2,025 | Completed |
| 10 Nov 2016 | Citywalk Residential Building 5City Walk | 4 B/R | 3,830 | AED 7.84M | 2,047 | Off-plan |
| 21 Nov 2016 | The One JBRJumeirah Beach Residence | 3 B/R | 2,590 | AED 7.51M | 2,899 | Off-plan |
| 14 Nov 2016 | Murjan TowerDubai Marina | 3 B/R | 4,150 | AED 7.50M | 1,807 | Completed |
| 21 Nov 2016 | The One JBRJumeirah Beach Residence | 3 B/R | 2,577 | AED 7.45M | 2,891 | Off-plan |
| 10 Nov 2016 | Al Thanayah Fourth | 3 B/R | 2,611 | AED 7.40M | 2,834 | 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 November 2016, answered
How many properties were sold in Dubai in November 2016?
2,676 residential sales were registered at the Dubai Land Department in November 2016, worth AED 4.2bn: 860 off-plan and 1,816 completed homes. That is 33% fewer than in November 2015, when 4,017 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 November 2016?
The dearest apartment or villa registered was an AED 30M completed five-bedroom home at Le Reve, Dubai Marina — 14,349 sq ft at AED 2,070 a square foot, registered on 28 November. Next came AED 9.50M at The Residences II - Tower 1, Downtown Dubai, and AED 8.27M at Olgana Tower, Al Sufouh. 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 November 2016?
Damac Hills 2, with 434 registered sales, 433 of them completed homes; then Dubai Sports City (180) and International City (168). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,871 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.