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Dubai property prices › Month by month › January 2018

The Dubai property market in January 2018

In January 2018 the Dubai Land Department registered 2,147 residential sales worth AED 3.3bn — 39% fewer than in January 2017, when it registered 3,493, and 56% less by value. Most were homes not yet built: 1,180 off-plan against 967 completed. A completed home changed hands at a median AED 1.25M, AED 909 a square foot — 10% more a foot than in January 2017.

Sales registered
2,147
−39% on January 2017 (3,493)
Value
AED 3.3bn
−56% on January 2017 (AED 7.4bn)
Off-plan
1,180
55% of the month · 967 completed
Completed homes, median
AED 909
per sq ft · AED 1.25M a home · +10% on January 2017

The month in its year

January 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,147 in January 2018
3,493
2,147
J2017FMAMJJASONDJ2018

2,147 sales in January 2018 — the fewest in a month since June 2017, against 3,493 in January 2017. Off-plan was 55% of the month, against 49% a year earlier.

Completed homes

What a completed home sold for in January 2018

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
Studio183AED 460K969
1 B/R290AED 790K939
2 B/R212AED 1.59M1,042
3 B/R103AED 2.20M938
4 B/R27AED 2.78M816

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
18, 2 January to 31 January. The busiest was 22 January: 248 sales, AED 309m.
Off-plan
1,180 sales at a median AED 1,308 a square foot — its own line, never blended into the completed-home medians.
Villas
285 of the 2,147, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
108 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 January, 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
Meydan2402241,146
Dubai Marina144441,298
Jumeirah Village Circle12994847
Town Square128112750
Business Bay126941,275
Dubai Sports City101101,013
International City900619
Dubai Hills Estate7471665
Dubai Creek Harbour (The Lagoons)6565—
Dubai South (Dubai World Central)6161—
Downtown Dubai60281,749
Jumeirah Lake Towers5331,023
Jumeirah Village Triangle4237967
Bur Dubai4141—
Al Furjan4134851
Dearest communityAED/sqftResales
Downtown Dubai1,74932
The Views1,38919
Al Jaddaf1,33610
Dubai Marina1,298100
Business Bay1,27532
Jumeirah Beach Residence1,24828
Palm Jumeirah1,19230
Greens1,16216
Meydan1,14616
Jumeirah Golf Estates1,14211

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 January 2018

The 15 buildings with the most sales registered in January, 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 January 2018

The dearest was an AED 27M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 8,291 sq ft at AED 3,251 a square foot, registered on 30 January.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
30 Jan 2018One at Palm JumeirahPalm Jumeirah4 B/R8,291AED 27M3,251Off-plan
30 Jan 2018The One JBRJumeirah Beach Residence4 B/R3,776AED 13M3,435Off-plan
18 Jan 2018BV Residences 6Jumeirah Bay Island3 B/R2,607AED 11M4,153Off-plan
23 Jan 2018Palm Jumeirah4 B/R14,184AED 10M705Completed
9 Jan 2018BV Residences 3Jumeirah Bay Island3 B/R2,698AED 9.38M3,478Off-plan
30 Jan 2018BV Residences 2Jumeirah Bay Island3 B/R2,631AED 8.73M3,317Off-plan
29 Jan 2018Opera GrandDowntown Dubai5 B/R4,041AED 8.57M2,120Off-plan
22 Jan 2018The Cove Building 1Dubai Creek Harbour (The Lagoons)4 B/R4,123AED 6.81M1,651Off-plan
17 Jan 2018Burj KhalifaDowntown Dubai3 B/R2,333AED 6.75M2,893Completed
30 Jan 2018BV Residences 2Jumeirah Bay Island2 B/R1,934AED 6.61M3,417Off-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 January 2018, answered

How many properties were sold in Dubai in January 2018?

2,147 residential sales were registered at the Dubai Land Department in January 2018, worth AED 3.3bn: 1,180 off-plan and 967 completed homes. That is 39% fewer than in January 2017, when 3,493 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 January 2018?

The dearest apartment or villa registered was an AED 27M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 8,291 sq ft at AED 3,251 a square foot, registered on 30 January. Next came AED 13M at The One JBR, Jumeirah Beach Residence, and AED 11M at BV Residences 6, 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 January 2018?

Meydan, with 240 registered sales, almost all of them off-plan; then Dubai Marina (144) and Jumeirah Village Circle (129). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,749 across 32 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 Jan 2018.

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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.

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