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Dubai property prices › Month by month › February 2017

The Dubai property market in February 2017

In February 2017 the Dubai Land Department registered 3,461 residential sales worth AED 6.1bn — 9% more than in February 2016, when it registered 3,187, and 17% more by value. Most were homes not yet built: 2,076 off-plan against 1,385 completed. A completed home changed hands at a median AED 1.27M, AED 890 a square foot — 3% less a foot than in February 2016.

Sales registered
3,461
+9% on February 2016 (3,187)
Value
AED 6.1bn
+17% on February 2016 (AED 5.2bn)
Off-plan
2,076
60% of the month · 1,385 completed
Completed homes, median
AED 890
per sq ft · AED 1.27M a home · −3% on February 2016

The month in its year

February 2017 against the twelve months before it

Residential sales registered, by monthOff-planResale3,461 in February 2017
3,187
3,461
F2016MAMJJASONDJ2017F

3,461 sales in February 2017, against 3,187 in February 2016. Off-plan was 60% of the month, against 54% a year earlier.

Completed homes

What a completed home sold for in February 2017

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
Studio228AED 476K992
1 B/R368AED 900K1,073
2 B/R213AED 1.82M1,260
3 B/R116AED 2.33M989
4 B/R23AED 2.40M776

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
16, 1 February to 28 February. The busiest was 13 February: 425 sales, AED 778m.
Off-plan
2,076 sales at a median AED 1,132 a square foot — its own line, never blended into the completed-home medians.
Villas
999 of the 3,461, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
389 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 February, 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
Dubai Creek Harbour (The Lagoons)319319—
Town Square229229—
Dubai Hills Estate227106814
Downtown Dubai2241871,724
Damac Hills 21681828
Dubai Marina163471,469
Jumeirah Village Circle144931,003
Dubai Land142141633
Arjan119116785
Dubai Sports City10439960
Business Bay100591,364
Jumeirah Village Triangle99931,014
Serena9797—
Al Furjan9569940
International City9016681
Dearest communityAED/sqftResales
City Walk1,75847
Downtown Dubai1,72437
Palm Jumeirah1,70657
The Views1,54414
Dubai Marina1,469116
Greens1,36421
Business Bay1,36441
Jumeirah Lake Towers1,27867
Jumeirah Beach Residence1,26821
Dubai Production City (IMPZ)1,07432

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 February 2017

The 15 buildings with the most sales registered in February, 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 February 2017

The dearest was an AED 18M off-plan four-bedroom home at IL Primo, Downtown Dubai — 5,253 sq ft at AED 3,440 a square foot, registered on 13 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
13 Feb 2017IL PrimoDowntown Dubai4 B/R5,253AED 18M3,440Off-plan
8 Feb 2017Citywalk Residential Building 10City Walk4 B/R5,688AED 14M2,420Completed
20 Feb 2017Marina Gate 2Dubai Marina5 B/R5,117AED 11M2,120Off-plan
13 Feb 2017Citywalk Residential Building 18ACity Walk4 B/R7,364AED 10M1,397Off-plan
2 Feb 2017Dubai Marina Mall HotelDubai MarinaPENTHOUSE3,329AED 10M3,079Completed
23 Feb 2017VolanteBusiness Bay3 B/R5,040AED 10M1,984Completed
20 Feb 2017Opera GrandDowntown Dubai2 B/R1,639AED 7.11M4,337Off-plan
9 Feb 2017Residences_E3Downtown Dubai3 B/R1,977AED 6.80M3,440Completed
27 Feb 2017Al Hebiah First4 B/R8,762AED 6.50M742Completed
6 Feb 2017Kempinski Palm ResidencePalm Jumeirah3 B/R3,751AED 6.40M1,706Completed

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 February 2017, answered

How many properties were sold in Dubai in February 2017?

3,461 residential sales were registered at the Dubai Land Department in February 2017, worth AED 6.1bn: 2,076 off-plan and 1,385 completed homes. That is 9% more than in February 2016, when 3,187 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 February 2017?

The dearest apartment or villa registered was an AED 18M off-plan four-bedroom home at IL Primo, Downtown Dubai — 5,253 sq ft at AED 3,440 a square foot, registered on 13 February. Next came AED 14M at Citywalk Residential Building 10, City Walk, and AED 11M at Marina Gate 2, Dubai Marina. 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 February 2017?

Dubai Creek Harbour (The Lagoons), with 319 registered sales, almost all of them off-plan; then Town Square (229) and Dubai Hills Estate (227). The dearest, by the median price of a square foot of completed home, was City Walk at AED 1,758 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.

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 28 Feb 2017.

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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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