Dubai property prices › Month by month › August 2017
The Dubai property market in August 2017
In August 2017 the Dubai Land Department registered 3,412 residential sales worth AED 6.1bn — 13% more than in August 2016, when it registered 3,025, and 8% less by value. Most were homes not yet built: 2,078 off-plan against 1,334 completed. A completed home changed hands at a median AED 1.20M, AED 924 a square foot — level with August 2016.
The month in its year
August 2017 against the twelve months before it
3,412 sales in August 2017 — the most in a month since April 2017, against 3,025 in August 2016. Off-plan was 61% of the month, against 57% a year earlier.
Completed homes
What a completed home sold for in August 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 | 233 | AED 510K | 1,034 |
| 1 B/R | 415 | AED 800K | 940 |
| 2 B/R | 262 | AED 1.73M | 1,110 |
| 3 B/R | 104 | AED 2.26M | 906 |
| 4 B/R | 21 | AED 4.28M | 1,149 |
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
- 22, 1 August to 30 August. The busiest was 14 August: 341 sales, AED 530m.
- Off-plan
- 2,078 sales at a median AED 1,104 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 470 of the 3,412, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 340 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 August, 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 |
|---|---|---|---|
| Business Bay | 340 | 224 | 1,451 |
| Dubai South (Dubai World Central) | 333 | 331 | 972 |
| Dubai Hills Estate | 308 | 281 | 823 |
| Jumeirah Village Circle | 284 | 229 | 905 |
| Dubai Creek Harbour (The Lagoons) | 174 | 174 | — |
| Dubai Marina | 158 | 58 | 1,377 |
| International City | 121 | 13 | 676 |
| Zabeel | 105 | 105 | — |
| Damac Hills 2 | 104 | 0 | 851 |
| Downtown Dubai | 96 | 61 | 1,669 |
| Discovery Gardens | 93 | 0 | 731 |
| Town Square | 92 | 92 | — |
| Dubai Sports City | 79 | 24 | 875 |
| Jumeirah Lake Towers | 61 | 3 | 1,155 |
| Arjan | 52 | 48 | 852 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| City Walk | 1,787 | 14 |
| Downtown Dubai | 1,669 | 35 |
| The Views | 1,518 | 10 |
| Business Bay | 1,451 | 116 |
| Dubai Marina | 1,377 | 100 |
| Palm Jumeirah | 1,242 | 25 |
| Greens | 1,234 | 24 |
| Jumeirah Beach Residence | 1,228 | 28 |
| Meydan | 1,182 | 39 |
| Jumeirah Lake Towers | 1,155 | 58 |
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 August 2017
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Park Heights 2 Tower 1Dubai Hills Estate | 120 | all | 1,324 |
| 2 | Aykon City Tower CBusiness Bay | 93 | all | 2,111 |
| 3 | Maple at Dubai Hills Estate 3Dubai Hills Estate | 91 | all | 995 |
| 4 | Creek Rise Tower 1Dubai Creek Harbour (The Lagoons) | 90 | all | 1,431 |
| 5 | Safeer Tower 1Business Bay | 84 | 0 | 1,467 |
| 6 | Bayz by DanubeBusiness Bay | 81 | all | 1,623 |
| 7 | Mediterranean Cluster Building 76Discovery Gardens | 66 | 0 | 723 |
| 8 | Downtown Views II Tower 3Zabeel | 61 | all | 1,786 |
| 9 | The Pulse Boulevard Apartments (C1)Dubai South (Dubai World Central) | 55 | all | 724 |
| 10 | Park SquareJumeirah Village Circle | 48 | all | 979 |
| 11 | The Pulse Residence IconDubai South (Dubai World Central) | 45 | all | 771 |
| 12 | Ghalia TowerJumeirah Village Circle | 43 | all | 1,104 |
| 13 | Bloom Heights AJumeirah Village Circle | 43 | all | 968 |
| 14 | The Pulse Residence Plaza B8Dubai South (Dubai World Central) | 35 | all | 774 |
| 15 | The Polo Residence A2Meydan | 31 | 0 | 1,185 |
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 August 2017
The dearest was an AED 22M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 6,293 sq ft at AED 3,457 a square foot, registered on 28 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 28 Aug 2017 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 6,293 | AED 22M | 3,457 | Off-plan |
| 30 Aug 2017 | The Crescent W ResidencesPalm Jumeirah | 3 B/R | 7,316 | AED 21M | 2,925 | Off-plan |
| 30 Aug 2017 | The Crescent W ResidencesPalm Jumeirah | 3 B/R | 7,334 | AED 21M | 2,863 | Off-plan |
| 9 Aug 2017 | Le ReveDubai Marina | 4 B/R | 6,298 | AED 21M | 3,255 | Completed |
| 28 Aug 2017 | Royal Residences Jumeirah Zabeel SarayPalm Jumeirah | 4 B/R | 4,694 | AED 20M | 4,261 | Completed |
| 10 Aug 2017 | The Crescent W ResidencesPalm Jumeirah | 3 B/R | 5,980 | AED 20M | 3,262 | Off-plan |
| 29 Aug 2017 | IL PrimoDowntown Dubai | 4 B/R | 5,253 | AED 19M | 3,580 | Off-plan |
| 15 Aug 2017 | IL PrimoDowntown Dubai | 4 B/R | 5,383 | AED 19M | 3,464 | Off-plan |
| 30 Aug 2017 | The Crescent W ResidencesPalm Jumeirah | 2 B/R | 6,906 | AED 19M | 2,679 | Off-plan |
| 30 Aug 2017 | Palazzo VersaceCulture Village | 4 B/R | 5,016 | AED 15M | 2,990 | 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 August 2017, answered
How many properties were sold in Dubai in August 2017?
3,412 residential sales were registered at the Dubai Land Department in August 2017, worth AED 6.1bn: 2,078 off-plan and 1,334 completed homes. That is 13% more than in August 2016, when 3,025 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 August 2017?
The dearest apartment or villa registered was an AED 22M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 6,293 sq ft at AED 3,457 a square foot, registered on 28 August. Next came AED 21M at The Crescent W Residences, Palm Jumeirah, and AED 21M 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 August 2017?
Business Bay, with 340 registered sales, 224 of them off-plan; then Dubai South (Dubai World Central) (333) and Dubai Hills Estate (308). The dearest, by the median price of a square foot of completed home, was City Walk at AED 1,787 across 14 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.