McCone Properties
WhatsApp
Menu

Dubai property prices › Month by month › July 2017

The Dubai property market in July 2017

In July 2017 the Dubai Land Department registered 2,999 residential sales worth AED 4.6bn — 10% more than in July 2016, when it registered 2,723, and 19% less by value. Most were homes not yet built: 1,744 off-plan against 1,255 completed. A completed home changed hands at a median AED 1.26M, AED 926 a square foot — 15% less a foot than in July 2016.

Sales registered
2,999
+10% on July 2016 (2,723)
Value
AED 4.6bn
−19% on July 2016 (AED 5.7bn)
Off-plan
1,744
58% of the month · 1,255 completed
Completed homes, median
AED 926
per sq ft · AED 1.26M a home · −15% on July 2016

The month in its year

July 2017 against the twelve months before it

Residential sales registered, by monthOff-planResale2,999 in July 2017
2,723
2,999
J2016ASONDJ2017FMAMJJ

2,999 sales in July 2017, against 2,723 in July 2016. Off-plan was 58% of the month, against 64% a year earlier.

Completed homes

What a completed home sold for in July 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
Studio189AED 490K1,074
1 B/R368AED 823K916
2 B/R229AED 1.65M1,161
3 B/R113AED 2.40M885
4 B/R18AED 3.55M846

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
17, 3 July to 31 July. The busiest was 31 July: 353 sales, AED 521m.
Off-plan
1,744 sales at a median AED 1,134 a square foot — its own line, never blended into the completed-home medians.
Villas
364 of the 2,999, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
295 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 July, 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
Jumeirah Village Circle224174887
Dubai South (Dubai World Central)188188—
Dubai Marina182701,342
Business Bay1781421,353
Damac Hills 21670863
Arjan138134957
Zabeel131131—
Jumeirah Village Triangle125115966
Dubai Hills Estate120100777
Town Square119119—
Dubai Creek Harbour (The Lagoons)100100—
Discovery Gardens900791
International City8621680
Dubai Sports City86271,005
Jumeirah Lake Towers7321,120
Dearest communityAED/sqftResales
Downtown Dubai1,91431
City Walk1,91413
The Views1,59116
Al Jaddaf1,44811
Jumeirah Beach Residence1,41927
Business Bay1,35336
Dubai Marina1,342112
Greens1,31321
Palm Jumeirah1,28149
Meydan1,19112

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 July 2017

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

The dearest was an AED 25M completed five-bedroom home at Elite Residence, Dubai Marina — 12,469 sq ft at AED 2,005 a square foot, registered on 10 July.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
10 Jul 2017Elite ResidenceDubai Marina5 B/R12,469AED 25M2,005Completed
17 Jul 2017The Crescent W ResidencesPalm Jumeirah3 B/R9,569AED 24M2,516Off-plan
31 Jul 2017The Crescent W ResidencesPalm Jumeirah4 B/R8,377AED 24M2,835Off-plan
26 Jul 2017IL PrimoDowntown Dubai4 B/R5,383AED 19M3,478Off-plan
5 Jul 2017IL PrimoDowntown Dubai4 B/R5,253AED 18M3,459Off-plan
17 Jul 2017The Crescent W ResidencesPalm Jumeirah3 B/R5,809AED 14M2,466Off-plan
5 Jul 2017Burj KhalifaDowntown Dubai1 B/R1,051AED 9.51M9,056Completed
5 Jul 2017Business Bay2 B/R2,214AED 9.40M4,248Off-plan
27 Jul 2017Al Bateen ResidencesJumeirah Beach Residence4 B/R2,945AED 9.00M3,056Completed
19 Jul 20175242 Tower 1Dubai Marina4 B/R3,593AED 6.92M1,926Off-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 July 2017, answered

How many properties were sold in Dubai in July 2017?

2,999 residential sales were registered at the Dubai Land Department in July 2017, worth AED 4.6bn: 1,744 off-plan and 1,255 completed homes. That is 10% more than in July 2016, when 2,723 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 July 2017?

The dearest apartment or villa registered was an AED 25M completed five-bedroom home at Elite Residence, Dubai Marina — 12,469 sq ft at AED 2,005 a square foot, registered on 10 July. Next came AED 24M at The Crescent W Residences, Palm Jumeirah, and AED 24M at The Crescent W Residences, 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 July 2017?

Jumeirah Village Circle, with 224 registered sales, 174 of them off-plan; then Dubai South (Dubai World Central) (188) and Dubai Marina (182). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,914 across 31 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 Jul 2017.

Talk to us

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.

WhatsAppCall

No mailing lists. One person calls you back. Privacy policy