Dubai property prices › Month by month › December 2017
The Dubai property market in December 2017
In December 2017 the Dubai Land Department registered 2,659 residential sales worth AED 5.1bn — 13% more than in December 2016, when it registered 2,353, and 30% more by value. Most were homes not yet built: 1,400 off-plan against 1,259 completed. A completed home changed hands at a median AED 1.31M, AED 933 a square foot — 1% more a foot than in December 2016.
The month in its year
December 2017 against the twelve months before it
2,659 sales in December 2017, against 2,353 in December 2016. Off-plan was 53% of the month, against 37% a year earlier.
Completed homes
What a completed home sold for in December 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 | 185 | AED 450K | 986 |
| 1 B/R | 344 | AED 804K | 945 |
| 2 B/R | 222 | AED 1.54M | 989 |
| 3 B/R | 153 | AED 2.50M | 1,017 |
| 4 B/R | 36 | AED 3.66M | 1,333 |
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, 4 December to 28 December. The busiest was 18 December: 507 sales, AED 775m.
- Off-plan
- 1,400 sales at a median AED 1,344 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 347 of the 2,659, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 271 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 December, 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 |
|---|---|---|---|
| Meydan | 206 | 198 | 1,113 |
| Business Bay | 203 | 169 | 1,302 |
| Jumeirah Village Circle | 166 | 122 | 868 |
| Dubai Marina | 160 | 45 | 1,354 |
| Town Square | 129 | 111 | 803 |
| Dubai Hills Estate | 121 | 79 | 774 |
| Damac Hills 2 | 121 | 0 | 910 |
| Dubai Sports City | 113 | 46 | 885 |
| Damac Hills | 105 | 73 | 914 |
| Downtown Dubai | 93 | 55 | 1,810 |
| International City | 88 | 5 | 633 |
| Jumeirah Lake Towers | 77 | 3 | 1,166 |
| Dubai Creek Harbour (The Lagoons) | 57 | 57 | — |
| Jumeirah Bay Island | 52 | 52 | — |
| Palm Jumeirah | 44 | 10 | 1,527 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,810 | 38 |
| Palm Jumeirah | 1,527 | 34 |
| The Views | 1,456 | 16 |
| City Walk | 1,432 | 25 |
| Dubai Marina | 1,354 | 115 |
| Jumeirah Golf Estates | 1,335 | 26 |
| Business Bay | 1,302 | 34 |
| Jumeirah Beach Residence | 1,178 | 32 |
| Jumeirah Lake Towers | 1,166 | 74 |
| Greens | 1,143 | 15 |
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 December 2017
The 15 buildings with the most sales registered in December, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Aykon City Tower CBusiness Bay | 86 | all | 1,600 |
| 2 | Golf Vita ADamac Hills | 57 | all | 1,331 |
| 3 | Azizi Riviera 1Meydan | 51 | all | 1,451 |
| 4 | Azizi Riviera 3Meydan | 40 | all | 1,422 |
| 5 | Sidra Villas IIIDubai Hills Estate | 40 | 0 | 780 |
| 6 | AquilegiaDamac Hills 2 | 37 | 0 | 1,076 |
| 7 | Bayz by DanubeBusiness Bay | 36 | all | 1,644 |
| 8 | Vida Dubai Mall Tower 2Downtown Dubai | 36 | all | 2,033 |
| 9 | Azizi AuraDowntown Jebel Ali | 34 | all | 1,294 |
| 10 | Park Heights 2 Tower 2Dubai Hills Estate | 32 | all | 1,321 |
| 11 | 17 Icon BayDubai Creek Harbour (The Lagoons) | 32 | all | 1,407 |
| 12 | Farhad Azizi ResidenceAl Jaddaf | 30 | all | 1,591 |
| 13 | Azizi Riviera 16Meydan | 28 | all | 1,598 |
| 14 | Noor TownhousesTown Square | 25 | all | 659 |
| 15 | VictoriaDamac Hills 2 | 24 | 0 | 909 |
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 December 2017
The dearest was an AED 50M off-plan four-bedroom home at BV Residences 5, Jumeirah Bay Island — 12,155 sq ft at AED 4,113 a square foot, registered on 26 December.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 26 Dec 2017 | BV Residences 5Jumeirah Bay Island | 4 B/R | 12,155 | AED 50M | 4,113 | Off-plan |
| 19 Dec 2017 | BV Residences 1Jumeirah Bay Island | 4 B/R | 12,155 | AED 39M | 3,237 | Off-plan |
| 25 Dec 2017 | BV Residences 3Jumeirah Bay Island | 4 B/R | 12,155 | AED 37M | 3,075 | Off-plan |
| 4 Dec 2017 | The Crescent W ResidencesPalm Jumeirah | 4 B/R | 8,711 | AED 25M | 2,898 | Off-plan |
| 27 Dec 2017 | BV Residences 4Jumeirah Bay Island | 4 B/R | 6,586 | AED 22M | 3,408 | Off-plan |
| 19 Dec 2017 | BV Residences 2Jumeirah Bay Island | 4 B/R | 6,586 | AED 22M | 3,408 | Off-plan |
| 4 Dec 2017 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 6,961 | AED 22M | 3,089 | Off-plan |
| 26 Dec 2017 | IL PrimoDowntown Dubai | 4 B/R | 5,253 | AED 19M | 3,650 | Off-plan |
| 18 Dec 2017 | Atlantis The Royal ResidencesPalm Jumeirah | 3 B/R | 3,815 | AED 14M | 3,611 | Off-plan |
| 18 Dec 2017 | The One JBRJumeirah Beach Residence | 4 B/R | 3,773 | AED 13M | 3,432 | Off-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 December 2017, answered
How many properties were sold in Dubai in December 2017?
2,659 residential sales were registered at the Dubai Land Department in December 2017, worth AED 5.1bn: 1,400 off-plan and 1,259 completed homes. That is 13% more than in December 2016, when 2,353 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 December 2017?
The dearest apartment or villa registered was an AED 50M off-plan four-bedroom home at BV Residences 5, Jumeirah Bay Island — 12,155 sq ft at AED 4,113 a square foot, registered on 26 December. Next came AED 39M at BV Residences 1, Jumeirah Bay Island, and AED 37M at BV Residences 3, Jumeirah Bay Island. 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 December 2017?
Meydan, with 206 registered sales, almost all of them off-plan; then Business Bay (203) and Jumeirah Village Circle (166). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,810 across 38 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.