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Dubai property prices › Month by month › December 2016

The Dubai property market in December 2016

In December 2016 the Dubai Land Department registered 2,353 residential sales worth AED 3.9bn — 29% fewer than in December 2015, when it registered 3,307, and 27% less by value. Most were completed homes: 1,483, against 870 off-plan. A completed home changed hands at a median AED 1.10M, AED 927 a square foot — 7% more a foot than in December 2015.

Sales registered
2,353
−29% on December 2015 (3,307)
Value
AED 3.9bn
−27% on December 2015 (AED 5.4bn)
Off-plan
870
37% of the month · 1,483 completed
Completed homes, median
AED 927
per sq ft · AED 1.10M a home · +7% on December 2015

The month in its year

December 2016 against the twelve months before it

Residential sales registered, by monthOff-planResale2,353 in December 2016
3,307
2,353
DJ2016FMAMJJASOND

2,353 sales in December 2016, against 3,307 in December 2015. Off-plan was 37% of the month, against 49% a year earlier.

Completed homes

What a completed home sold for in December 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
Studio270AED 503K1,094
1 B/R414AED 875K1,062
2 B/R239AED 1.60M1,093
3 B/R117AED 2.30M849
4 B/R40AED 2.53M759

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
15, 5 December to 28 December. The busiest was 19 December: 277 sales, AED 478m.
Off-plan
870 sales at a median AED 1,145 a square foot — its own line, never blended into the completed-home medians.
Villas
362 of the 2,353, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
335 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 December, 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 22442828
Arjan1551491,049
Dubai Marina149491,357
Motor City12401,226
Jumeirah Village Circle11668906
Dubai Sports City11532989
City Walk106781,999
International City1034661
Jumeirah Beach Residence94641,360
Business Bay94601,346
Town Square7676—
Downtown Dubai76191,873
Jumeirah Lake Towers7261,133
Reem6812729
Liwan6652713
Dearest communityAED/sqftResales
City Walk1,99928
Downtown Dubai1,87357
The Views1,54313
Palm Jumeirah1,43232
Jumeirah Beach Residence1,36030
Dubai Marina1,357100
Business Bay1,34634
Greens1,33218
Motor City1,226124
Jumeirah Lake Towers1,13366

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 December 2016

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

The dearest was an AED 12M completed four-bedroom home at City Walk Residential Building 13B, City Walk — 7,362 sq ft at AED 1,686 a square foot, registered on 27 December.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
27 Dec 2016City Walk Residential Building 13BCity Walk4 B/R7,362AED 12M1,686Completed
5 Dec 2016Burj KhalifaDowntown Dubai2 B/R1,926AED 11M5,451Completed
14 Dec 2016Burj Vista Tower 2Downtown Dubai4 B/R3,482AED 9.16M2,631Off-plan
19 Dec 2016Murjan 5Jumeirah Beach Residence4 B/R5,716AED 9.00M1,575Completed
19 Dec 2016Citywalk Residential Building 17City Walk4 B/R5,611AED 7.87M1,403Off-plan
19 Dec 2016The One JBRJumeirah Beach Residence3 B/R2,584AED 7.30M2,825Off-plan
21 Dec 2016Residences_E1Downtown Dubai3 B/R2,599AED 7.20M2,770Completed
5 Dec 201623 MarinaDubai Marina4 B/R5,645AED 7.15M1,267Completed
14 Dec 2016Residences_W3Downtown Dubai3 B/R2,082AED 7.00M3,362Completed
6 Dec 2016Citywalk Residential Building 4BCity Walk4 B/R5,614AED 6.65M1,185Off-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 December 2016, answered

How many properties were sold in Dubai in December 2016?

2,353 residential sales were registered at the Dubai Land Department in December 2016, worth AED 3.9bn: 870 off-plan and 1,483 completed homes. That is 29% fewer than in December 2015, when 3,307 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 December 2016?

The dearest apartment or villa registered was an AED 12M completed four-bedroom home at City Walk Residential Building 13B, City Walk — 7,362 sq ft at AED 1,686 a square foot, registered on 27 December. Next came AED 11M at Burj Khalifa, Downtown Dubai, and AED 9.16M at Burj Vista Tower 2, 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 December 2016?

Damac Hills 2, with 244 registered sales, 242 of them completed homes; then Arjan (155) and Dubai Marina (149). The dearest, by the median price of a square foot of completed home, was City Walk at AED 1,999 across 28 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 Dec 2016.

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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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