Dubai property prices › Month by month › March 2017
The Dubai property market in March 2017
In March 2017 the Dubai Land Department registered 3,850 residential sales worth AED 7.5bn — 107% more than in March 2016, when it registered 1,856, and 105% more by value. Most were homes not yet built: 2,114 off-plan against 1,736 completed. A completed home changed hands at a median AED 1.15M, AED 864 a square foot — 6% less a foot than in March 2016.
The month in its year
March 2017 against the twelve months before it
3,850 sales in March 2017 — the most in a month since November 2015, against 1,856 in March 2016. Off-plan was 55% of the month, against 40% a year earlier.
Completed homes
What a completed home sold for in March 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 294 | AED 450K | 956 |
| 1 B/R | 479 | AED 760K | 910 |
| 2 B/R | 281 | AED 1.65M | 1,073 |
| 3 B/R | 146 | AED 2.41M | 990 |
| 4 B/R | 45 | AED 2.75M | 763 |
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 March to 30 March. The busiest was 20 March: 429 sales, AED 735m.
- Off-plan
- 2,114 sales at a median AED 1,057 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 868 of the 3,850, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 404 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 March, 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 |
|---|---|---|---|
| Town Square | 246 | 246 | — |
| Dubai Marina | 218 | 106 | 1,310 |
| Dubai Hills Estate | 189 | 114 | 837 |
| Jumeirah Village Circle | 185 | 119 | 936 |
| Zabeel | 175 | 175 | — |
| Damac Hills 2 | 174 | 1 | 811 |
| Dubai Land | 166 | 165 | 965 |
| Downtown Dubai | 141 | 100 | 1,835 |
| Dubai Sports City | 129 | 31 | 919 |
| City Walk | 123 | 101 | 1,886 |
| Dubai Creek Harbour (The Lagoons) | 120 | 120 | — |
| Business Bay | 120 | 69 | 1,471 |
| International City | 119 | 6 | 668 |
| Jumeirah Village Triangle | 117 | 88 | 741 |
| Discovery Gardens | 116 | 0 | 679 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| City Walk | 1,886 | 22 |
| Downtown Dubai | 1,835 | 41 |
| The Views | 1,538 | 18 |
| Culture Village | 1,500 | 14 |
| Business Bay | 1,471 | 51 |
| Palm Jumeirah | 1,389 | 42 |
| Greens | 1,348 | 29 |
| Dubai Marina | 1,310 | 112 |
| Jumeirah Beach Residence | 1,226 | 28 |
| Meydan | 1,185 | 36 |
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 March 2017
The 15 buildings with the most sales registered in March, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Downtown Views II Tower 1Zabeel | 174 | all | 1,862 |
| 2 | Bella CasaDubai Land | 157 | all | 691 |
| 3 | Noor TownhousesTown Square | 134 | all | 628 |
| 4 | Casa DoraSerena | 87 | all | 721 |
| 5 | Citywalk Residential Building 19City Walk | 81 | all | 1,441 |
| 6 | Terhab Tower 1Jumeirah Village Triangle | 79 | all | 1,669 |
| 7 | Mediterranean Cluster Building 72Discovery Gardens | 66 | 0 | 679 |
| 8 | Studio OneDubai Marina | 62 | all | 1,628 |
| 9 | Sidra Villas IIDubai Hills Estate | 62 | 0 | 817 |
| 10 | Plaza Residences 2Jumeirah Village Circle | 44 | all | 783 |
| 11 | Maple at Dubai Hills Estate 2Dubai Hills Estate | 44 | all | 941 |
| 12 | Creek Gate Tower 1Dubai Creek Harbour (The Lagoons) | 43 | all | 1,441 |
| 13 | Miraclz Tower by DanubeArjan | 43 | all | 1,193 |
| 14 | Act OneDowntown Dubai | 36 | all | 2,190 |
| 15 | AlbiziaDamac Hills 2 | 33 | 0 | 755 |
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 March 2017
The dearest was an AED 36M completed five-bedroom home at Volante, Business Bay — 10,805 sq ft at AED 3,332 a square foot, registered on 21 March.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 21 Mar 2017 | VolanteBusiness Bay | 5 B/R | 10,805 | AED 36M | 3,332 | Completed |
| 13 Mar 2017 | VolanteBusiness Bay | 3 B/R | 10,789 | AED 20M | 1,854 | Completed |
| 2 Mar 2017 | VolanteBusiness Bay | 5 B/R | 10,788 | AED 20M | 1,854 | Completed |
| 9 Mar 2017 | VolanteBusiness Bay | 5 B/R | 10,788 | AED 20M | 1,854 | Completed |
| 6 Mar 2017 | VolanteBusiness Bay | 5 B/R | 10,789 | AED 20M | 1,854 | Completed |
| 13 Mar 2017 | VolanteBusiness Bay | 4 B/R | 10,789 | AED 20M | 1,854 | Completed |
| 13 Mar 2017 | VolanteBusiness Bay | 3 B/R | 10,789 | AED 20M | 1,854 | Completed |
| 8 Mar 2017 | VolanteBusiness Bay | 5 B/R | 10,788 | AED 20M | 1,854 | Completed |
| 16 Mar 2017 | Citywalk Residential Building 10City Walk | 4 B/R | 5,688 | AED 16M | 2,743 | Completed |
| 27 Mar 2017 | D1 TowerCulture Village | 6 B/R | 9,651 | AED 15M | 1,554 | 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 March 2017, answered
How many properties were sold in Dubai in March 2017?
3,850 residential sales were registered at the Dubai Land Department in March 2017, worth AED 7.5bn: 2,114 off-plan and 1,736 completed homes. That is 107% more than in March 2016, when 1,856 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 March 2017?
The dearest apartment or villa registered was an AED 36M completed five-bedroom home at Volante, Business Bay — 10,805 sq ft at AED 3,332 a square foot, registered on 21 March. Next came AED 20M at Volante, Business Bay, and AED 20M at Volante, Business Bay. 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 March 2017?
Town Square, with 246 registered sales, almost all of them off-plan; then Dubai Marina (218) and Dubai Hills Estate (189). The dearest, by the median price of a square foot of completed home, was City Walk at AED 1,886 across 22 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.