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Dubai property prices › Month by month › February 2018

The Dubai property market in February 2018

In February 2018 the Dubai Land Department registered 2,171 residential sales worth AED 3.7bn — 37% fewer than in February 2017, when it registered 3,461, and 39% less by value. Most were homes not yet built: 1,254 off-plan against 917 completed. A completed home changed hands at a median AED 1.11M, AED 912 a square foot — 2% more a foot than in February 2017.

Sales registered
2,171
−37% on February 2017 (3,461)
Value
AED 3.7bn
−39% on February 2017 (AED 6.1bn)
Off-plan
1,254
58% of the month · 917 completed
Completed homes, median
AED 912
per sq ft · AED 1.11M a home · +2% on February 2017

The month in its year

February 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,171 in February 2018
3,461
2,171
F2017MAMJJASONDJ2018F

2,171 sales in February 2018, against 3,461 in February 2017. Off-plan was 58% of the month, against 60% a year earlier.

Completed homes

What a completed home sold for in February 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
Studio194AED 460K993
1 B/R285AED 752K872
2 B/R164AED 1.45M1,000
3 B/R110AED 2.24M885
4 B/R30AED 2.42M880

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
16, 1 February to 28 February. The busiest was 12 February: 328 sales, AED 480m.
Off-plan
1,254 sales at a median AED 1,329 a square foot — its own line, never blended into the completed-home medians.
Villas
216 of the 2,171, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
101 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 February, 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
Business Bay3082821,282
Meydan1811741,149
Jumeirah Village Circle179141822
Dubai Marina138481,346
Dubai Sports City1277985
International City1055654
Bur Dubai101101—
Town Square7259648
Palm Jumeirah70371,265
Dubai South (Dubai World Central)62601,017
Jumeirah Lake Towers5431,198
Downtown Dubai51201,745
Dubai Hills Estate4847780
Jumeirah Village Triangle3837902
Dubai Production City (IMPZ)336825
Dearest communityAED/sqftResales
Downtown Dubai1,74531
The Views1,58410
Dubai Marina1,34690
Business Bay1,28226
Palm Jumeirah1,26533
Jumeirah Golf Estates1,25912
Culture Village1,24517
Jumeirah Beach Residence1,23722
Jumeirah Lake Towers1,19851
Greens1,10610

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 February 2018

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

The dearest was an AED 60M off-plan four-bedroom home at BV Residences 6, Jumeirah Bay Island — 14,331 sq ft at AED 4,187 a square foot, registered on 20 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
20 Feb 2018BV Residences 6Jumeirah Bay Island4 B/R14,331AED 60M4,187Off-plan
12 Feb 2018Atlantis The Royal ResidencesPalm Jumeirah4 B/R4,805AED 25M5,203Off-plan
12 Feb 2018IL PrimoDowntown Dubai4 B/R5,383AED 19M3,583Off-plan
13 Feb 2018Burj KhalifaDowntown Dubai4 B/R6,457AED 18M2,816Completed
13 Feb 2018The Crescent W ResidencesPalm Jumeirah3 B/R6,912AED 14M2,054Off-plan
12 Feb 2018Park Gate Residence 4Bur Dubai4 B/R10,849AED 11M1,041Off-plan
15 Feb 2018Residences_E1Downtown Dubai4 B/R4,789AED 11M2,297Completed
5 Feb 2018BV Residences 6Jumeirah Bay Island3 B/R2,607AED 11M4,107Off-plan
20 Feb 2018BV Residences 6Jumeirah Bay Island2 B/R2,249AED 9.47M4,212Off-plan
27 Feb 2018BV Residences 6Jumeirah Bay Island2 B/R1,933AED 8.19M4,236Off-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 February 2018, answered

How many properties were sold in Dubai in February 2018?

2,171 residential sales were registered at the Dubai Land Department in February 2018, worth AED 3.7bn: 1,254 off-plan and 917 completed homes. That is 37% fewer than in February 2017, when 3,461 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 February 2018?

The dearest apartment or villa registered was an AED 60M off-plan four-bedroom home at BV Residences 6, Jumeirah Bay Island — 14,331 sq ft at AED 4,187 a square foot, registered on 20 February. Next came AED 25M at Atlantis The Royal Residences, Palm Jumeirah, and AED 19M at IL Primo, Downtown Dubai. 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 February 2018?

Business Bay, with 308 registered sales, almost all of them off-plan; then Meydan (181) and Jumeirah Village Circle (179). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,745 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 28 Feb 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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