McCone Properties
WhatsApp
Menu

Dubai property prices › Month by month › March 2018

The Dubai property market in March 2018

In March 2018 the Dubai Land Department registered 1,934 residential sales worth AED 3.1bn — 50% fewer than in March 2017, when it registered 3,850, and 58% less by value. Most were completed homes: 1,025, against 909 off-plan. A completed home changed hands at a median AED 1.26M, AED 910 a square foot — 5% more a foot than in March 2017.

Sales registered
1,934
−50% on March 2017 (3,850)
Value
AED 3.1bn
−58% on March 2017 (AED 7.5bn)
Off-plan
909
47% of the month · 1,025 completed
Completed homes, median
AED 910
per sq ft · AED 1.26M a home · +5% on March 2017

The month in its year

March 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale1,934 in March 2018
3,850
1,934
M2017AMJJASONDJ2018FM

1,934 sales in March 2018 — the fewest in a month since June 2017, against 3,850 in March 2017. Off-plan was 47% of the month, against 55% a year earlier.

Completed homes

What a completed home sold for in March 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
Studio158AED 423K939
1 B/R326AED 760K958
2 B/R209AED 1.57M1,021
3 B/R110AED 2.24M945
4 B/R21AED 2.30M893

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 March to 29 March. The busiest was 5 March: 252 sales, AED 371m.
Off-plan
909 sales at a median AED 1,297 a square foot — its own line, never blended into the completed-home medians.
Villas
218 of the 1,934, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
134 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 March, 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
Meydan1531461,043
Jumeirah Village Circle147121830
Business Bay1351041,195
Dubai Marina134471,204
Dubai Sports City11714954
Bur Dubai7575—
International City751612
Dubai South (Dubai World Central)7473942
Palm Jumeirah72401,238
Downtown Dubai69191,597
Jumeirah Lake Towers6131,040
Damac Hills 2612890
Dubai Hills Estate5140789
Dubai Silicon Oasis490758
Town Square4428746
Dearest communityAED/sqftResales
Downtown Dubai1,59750
City Walk1,55042
The Views1,30112
Culture Village1,30011
Palm Jumeirah1,23832
Dubai Marina1,20487
Business Bay1,19531
Jumeirah Beach Residence1,16217
Greens1,10816
Jumeirah Lake Towers1,04058

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 March 2018

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

The dearest was an AED 43M off-plan five-bedroom home at IL Primo, Downtown Dubai — 11,550 sq ft at AED 3,725 a square foot, registered on 20 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
20 Mar 2018IL PrimoDowntown Dubai5 B/R11,550AED 43M3,725Off-plan
13 Mar 2018BV Residences 2Jumeirah Bay Island4 B/R6,586AED 28M4,176Off-plan
14 Mar 2018Atlantis The Royal ResidencesPalm Jumeirah4 B/R4,338AED 21M4,913Off-plan
15 Mar 2018IL PrimoDowntown Dubai4 B/R5,383AED 20M3,716Off-plan
13 Mar 2018Atlantis The Royal ResidencesPalm Jumeirah2 B/R2,406AED 9.20M3,824Off-plan
5 Mar 2018Serenia Residences Building BPalm Jumeirah3 B/R4,866AED 8.00M1,644Off-plan
19 Mar 2018The Cove Building 3Dubai Creek Harbour (The Lagoons)4 B/R5,031AED 7.62M1,515Off-plan
7 Mar 2018The One JBRJumeirah Beach Residence3 B/R2,594AED 7.55M2,911Off-plan
22 Mar 2018Serenia Residences Building CPalm Jumeirah3 B/R2,886AED 7.35M2,547Completed
5 Mar 2018Golden Mile 5Palm JumeirahPENTHOUSE10,222AED 7.07M691Completed

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 March 2018, answered

How many properties were sold in Dubai in March 2018?

1,934 residential sales were registered at the Dubai Land Department in March 2018, worth AED 3.1bn: 909 off-plan and 1,025 completed homes. That is 50% fewer than in March 2017, when 3,850 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 March 2018?

The dearest apartment or villa registered was an AED 43M off-plan five-bedroom home at IL Primo, Downtown Dubai — 11,550 sq ft at AED 3,725 a square foot, registered on 20 March. Next came AED 28M at BV Residences 2, Jumeirah Bay Island, and AED 21M at Atlantis The Royal 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 March 2018?

Meydan, with 153 registered sales, almost all of them off-plan; then Jumeirah Village Circle (147) and Business Bay (135). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,597 across 50 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 Mar 2018.

Talk to us

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.

WhatsAppCall

No mailing lists. One person calls you back. Privacy policy