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Dubai property prices › Month by month › November 2017

The Dubai property market in November 2017

In November 2017 the Dubai Land Department registered 2,343 residential sales worth AED 3.8bn — 12% fewer than in November 2016, when it registered 2,676, and 10% less by value. Most were completed homes: 1,214, against 1,129 off-plan. A completed home changed hands at a median AED 1.22M, AED 904 a square foot — 8% more a foot than in November 2016.

Sales registered
2,343
−12% on November 2016 (2,676)
Value
AED 3.8bn
−10% on November 2016 (AED 4.2bn)
Off-plan
1,129
48% of the month · 1,214 completed
Completed homes, median
AED 904
per sq ft · AED 1.22M a home · +8% on November 2016

The month in its year

November 2017 against the twelve months before it

Residential sales registered, by monthOff-planResale2,343 in November 2017
2,676
2,343
NDJ2017FMAMJJASON

2,343 sales in November 2017, against 2,676 in November 2016. Off-plan was 48% of the month, against 32% a year earlier.

Completed homes

What a completed home sold for in November 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
Studio197AED 455K967
1 B/R390AED 857K953
2 B/R235AED 1.64M1,038
3 B/R116AED 2.24M968
4 B/R14AED 2.75M1,112

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, 1 November to 29 November. The busiest was 20 November: 311 sales, AED 520m.
Off-plan
1,129 sales at a median AED 1,155 a square foot — its own line, never blended into the completed-home medians.
Villas
302 of the 2,343, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
230 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 November, 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 Circle219163924
Business Bay1681351,343
Dubai Marina141311,310
Damac Hills139861,201
International City13312626
Damac Hills 2910853
Dubai Sports City9141914
Dubai South (Dubai World Central)69631,000
Al Furjan6646943
Al Jaddaf66601,462
Town Square6548761
Jumeirah Lake Towers6221,086
Downtown Dubai55121,872
Serena5050—
Dubai Hills Estate4931822
Dearest communityAED/sqftResales
Downtown Dubai1,87243
City Walk1,67613
The Views1,42111
Business Bay1,34333
Dubai Marina1,310110
Jumeirah Beach Residence1,28730
Palm Jumeirah1,27134
Damac Hills1,20153
Greens1,16236
Jumeirah Lake Towers1,08660

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 November 2017

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

The dearest was an AED 32M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 9,880 sq ft at AED 3,239 a square foot, registered on 13 November.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
13 Nov 2017One at Palm JumeirahPalm Jumeirah4 B/R9,880AED 32M3,239Off-plan
27 Nov 2017118 DowntownDowntown Dubai4 B/R6,650AED 19M2,895Completed
21 Nov 2017Jumeirah Gate Tower 1Jumeirah Beach Residence5 B/R4,300AED 11M2,507Off-plan
13 Nov 2017The Palm TowerPalm Jumeirah2 B/R2,062AED 8.53M4,139Off-plan
13 Nov 2017The Palm TowerPalm Jumeirah2 B/R2,062AED 8.53M4,139Off-plan
8 Nov 2017Serenia Residences Building CPalm Jumeirah3 B/R2,943AED 7.80M2,650Off-plan
13 Nov 2017City Walk Building 1City Walk3 B/R3,005AED 7.50M2,496Completed
29 Nov 2017Iris BlueDubai Marina3 B/R3,538AED 6.65M1,881Completed
22 Nov 2017Kempinski Palm ResidencePalm Jumeirah3 B/R2,536AED 6.60M2,603Completed
20 Nov 2017Burj KhalifaDowntown Dubai2 B/R2,033AED 6.45M3,172Completed

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 November 2017, answered

How many properties were sold in Dubai in November 2017?

2,343 residential sales were registered at the Dubai Land Department in November 2017, worth AED 3.8bn: 1,129 off-plan and 1,214 completed homes. That is 12% fewer than in November 2016, when 2,676 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 November 2017?

The dearest apartment or villa registered was an AED 32M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 9,880 sq ft at AED 3,239 a square foot, registered on 13 November. Next came AED 19M at 118 Downtown, Downtown Dubai, and AED 11M at Jumeirah Gate Tower 1, Jumeirah Beach Residence. 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 November 2017?

Jumeirah Village Circle, with 219 registered sales, 163 of them off-plan; then Business Bay (168) and Dubai Marina (141). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,872 across 43 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 30 Nov 2017.

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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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