Dubai property prices › Month by month › May 2017
The Dubai property market in May 2017
In May 2017 the Dubai Land Department registered 3,306 residential sales worth AED 5.5bn — 25% more than in May 2016, when it registered 2,639, and 11% more by value. Most were completed homes: 1,879, against 1,427 off-plan. A completed home changed hands at a median AED 1.30M, AED 915 a square foot — 1% more a foot than in May 2016.
The month in its year
May 2017 against the twelve months before it
3,306 sales in May 2017 — the fewest in a month since December 2016, against 2,639 in May 2016. Off-plan was 43% of the month, against 49% a year earlier.
Completed homes
What a completed home sold for in May 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 | 252 | AED 440K | 993 |
| 1 B/R | 467 | AED 900K | 1,065 |
| 2 B/R | 339 | AED 1.70M | 1,162 |
| 3 B/R | 181 | AED 2.45M | 918 |
| 4 B/R | 46 | AED 2.70M | 786 |
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
- 19, 1 May to 31 May. The busiest was 8 May: 340 sales, AED 560m.
- Off-plan
- 1,427 sales at a median AED 975 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 605 of the 3,306, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 545 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 May, 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 |
|---|---|---|---|
| Jumeirah Village Circle | 373 | 290 | 902 |
| Damac Hills 2 | 357 | 1 | 850 |
| Dubai Marina | 195 | 57 | 1,349 |
| Business Bay | 170 | 128 | 1,280 |
| Town Square | 132 | 132 | — |
| International City | 125 | 12 | 662 |
| Arjan | 119 | 108 | 978 |
| Dubai Sports City | 106 | 43 | 960 |
| Jumeirah Village Triangle | 96 | 85 | 978 |
| Dubai South (Dubai World Central) | 94 | 94 | — |
| Downtown Dubai | 87 | 24 | 1,850 |
| Jumeirah Lake Towers | 85 | 3 | 1,176 |
| Reem | 75 | 9 | 764 |
| Al Furjan | 71 | 48 | 952 |
| Dubai Silicon Oasis | 67 | 6 | 873 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,850 | 63 |
| City Walk | 1,699 | 47 |
| The Views | 1,628 | 26 |
| Palm Jumeirah | 1,527 | 52 |
| Jumeirah Beach Residence | 1,429 | 33 |
| Al Sufouh | 1,390 | 11 |
| Dubai Marina | 1,349 | 138 |
| Business Bay | 1,280 | 42 |
| Greens | 1,270 | 25 |
| Meydan | 1,232 | 34 |
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 May 2017
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Ghalia TowerJumeirah Village Circle | 81 | all | 976 |
| 2 | AmargoDamac Hills 2 | 61 | 0 | 869 |
| 3 | Bloom Heights AJumeirah Village Circle | 54 | all | 961 |
| 4 | Terhab Tower 1Jumeirah Village Triangle | 52 | all | 1,637 |
| 5 | VictoriaDamac Hills 2 | 52 | 0 | 890 |
| 6 | Casa DoraSerena | 51 | all | 715 |
| 7 | AvenciaDamac Hills 2 | 49 | 0 | 811 |
| 8 | Noor TownhousesTown Square | 47 | all | 642 |
| 9 | Hameni TowerJumeirah Village Circle | 38 | all | 875 |
| 10 | Citywalk Residential Building 14City Walk | 37 | 0 | 1,699 |
| 11 | Resortz Residence Block 3Arjan | 34 | all | 1,081 |
| 12 | Bella CasaDubai Land | 31 | all | 689 |
| 13 | The Polo Residence C6Meydan | 30 | 0 | 1,241 |
| 14 | Al Andalus TownhousesJumeirah Golf Estates | 29 | 0 | 981 |
| 15 | AmazoniaDamac Hills 2 | 29 | 0 | 847 |
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 May 2017
The dearest was an AED 13M off-plan four-bedroom home at The One JBR, Jumeirah Beach Residence — 3,775 sq ft at AED 3,454 a square foot, registered on 24 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 24 May 2017 | The One JBRJumeirah Beach Residence | 4 B/R | 3,775 | AED 13M | 3,454 | Off-plan |
| 17 May 2017 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 12M | 1,937 | Completed |
| 29 May 2017 | Marina Residences 5Palm Jumeirah | 4 B/R | 10,254 | AED 10M | 975 | Completed |
| 1 May 2017 | Palm Jumeirah | 4 B/R | 13,660 | AED 10M | 732 | Off-plan |
| 18 May 2017 | Kempinski Palm ResidencePalm Jumeirah | 4 B/R | 5,565 | AED 9.80M | 1,761 | Completed |
| 10 May 2017 | Burj KhalifaDowntown Dubai | 2 B/R | 1,909 | AED 9.00M | 4,715 | Completed |
| 2 May 2017 | Rimal 4Jumeirah Beach Residence | PENTHOUSE | 5,637 | AED 8.60M | 1,526 | Completed |
| 9 May 2017 | The Residences East PodiumDowntown Dubai | 3 B/R | 2,784 | AED 8.10M | 2,910 | Completed |
| 1 May 2017 | Al Hebiah First | 4 B/R | 8,362 | AED 7.25M | 867 | Completed |
| 15 May 2017 | Citywalk Residential Building 14City Walk | 4 B/R | 4,202 | AED 7.13M | 1,696 | 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 May 2017, answered
How many properties were sold in Dubai in May 2017?
3,306 residential sales were registered at the Dubai Land Department in May 2017, worth AED 5.5bn: 1,427 off-plan and 1,879 completed homes. That is 25% more than in May 2016, when 2,639 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 May 2017?
The dearest apartment or villa registered was an AED 13M off-plan four-bedroom home at The One JBR, Jumeirah Beach Residence — 3,775 sq ft at AED 3,454 a square foot, registered on 24 May. Next came AED 12M at Le Reve, Dubai Marina, and AED 10M at Marina Residences 5, Palm Jumeirah. 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 May 2017?
Jumeirah Village Circle, with 373 registered sales, 290 of them off-plan; then Damac Hills 2 (357) and Dubai Marina (195). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,850 across 63 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.