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Dubai property prices › Month by month › April 2018

The Dubai property market in April 2018

In April 2018 the Dubai Land Department registered 2,087 residential sales worth AED 4.1bn — 40% fewer than in April 2017, when it registered 3,477, and 36% less by value. Most were homes not yet built: 1,100 off-plan against 987 completed. A completed home changed hands at a median AED 1.38M, AED 965 a square foot — 10% more a foot than in April 2017.

Sales registered
2,087
−40% on April 2017 (3,477)
Value
AED 4.1bn
−36% on April 2017 (AED 6.4bn)
Off-plan
1,100
53% of the month · 987 completed
Completed homes, median
AED 965
per sq ft · AED 1.38M a home · +10% on April 2017

The month in its year

April 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,087 in April 2018
3,477
2,087
A2017MJJASONDJ2018FMA

2,087 sales in April 2018, against 3,477 in April 2017. Off-plan was 53% of the month, against 47% a year earlier.

Completed homes

What a completed home sold for in April 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
Studio134AED 459K999
1 B/R291AED 900K1,082
2 B/R219AED 1.72M1,122
3 B/R92AED 2.39M905
4 B/R21AED 2.60M746

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, 2 April to 30 April. The busiest was 30 April: 232 sales, AED 414m.
Off-plan
1,100 sales at a median AED 1,343 a square foot — its own line, never blended into the completed-home medians.
Villas
260 of the 2,087, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
173 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 April, 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
Meydan1811371,122
Business Bay1801541,176
Dubai Marina149591,268
Jumeirah Village Circle10970908
Downtown Dubai99311,548
Dubai Hills Estate9358793
Dubai Sports City9115897
Dubai Creek Harbour (The Lagoons)7979—
Dubai South (Dubai World Central)7372755
Palm Jumeirah66241,251
International City603573
Bur Dubai5757—
Damac Hills5437934
Damac Hills 2481976
Jumeirah Lake Towers4411,089
Dearest communityAED/sqftResales
Downtown Dubai1,54868
Dubai Marina1,26890
Palm Jumeirah1,25142
Business Bay1,17626
Jumeirah Beach Residence1,16822
Jumeirah Golf Estates1,16111
Meydan1,12244
Greens1,10919
Jumeirah Lake Towers1,08943
Damac Hills 297647

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 April 2018

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

The dearest was an AED 25M off-plan four-bedroom home at BV Residences 2, Jumeirah Bay Island — 7,085 sq ft at AED 3,527 a square foot, registered on 4 April.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
4 Apr 2018BV Residences 2Jumeirah Bay Island4 B/R7,085AED 25M3,527Off-plan
12 Apr 2018Emerald Palace Kempinski HotelPalm Jumeirah4 B/R6,919AED 18M2,602Completed
3 Apr 2018BV Residences 3Jumeirah Bay Island3 B/R3,163AED 11M3,409Off-plan
24 Apr 2018BV Residences 6Jumeirah Bay Island3 B/R2,607AED 11M4,084Off-plan
17 Apr 2018BV Residences 3Jumeirah Bay Island6 B/R3,163AED 11M3,361Off-plan
2 Apr 2018The Crescent The 8Palm Jumeirah3 B/R4,123AED 9.50M2,304Off-plan
23 Apr 2018BV Residences 3Jumeirah Bay Island3 B/R2,698AED 9.24M3,425Off-plan
2 Apr 2018BV Residences 4Jumeirah Bay Island3 B/R2,607AED 8.92M3,422Off-plan
26 Apr 2018MeskDubai Production City (IMPZ)5 B/R4,822AED 8.30M1,721Completed
3 Apr 2018Atlantis The Royal ResidencesPalm Jumeirah2 B/R1,450AED 8.25M5,691Off-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 April 2018, answered

How many properties were sold in Dubai in April 2018?

2,087 residential sales were registered at the Dubai Land Department in April 2018, worth AED 4.1bn: 1,100 off-plan and 987 completed homes. That is 40% fewer than in April 2017, when 3,477 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 April 2018?

The dearest apartment or villa registered was an AED 25M off-plan four-bedroom home at BV Residences 2, Jumeirah Bay Island — 7,085 sq ft at AED 3,527 a square foot, registered on 4 April. Next came AED 18M at Emerald Palace Kempinski Hotel, Palm Jumeirah, and AED 11M 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 April 2018?

Meydan, with 181 registered sales, 137 of them off-plan; then Business Bay (180) and Dubai Marina (149). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,548 across 68 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 Apr 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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