Dubai property prices › Month by month › May 2018
The Dubai property market in May 2018
In May 2018 the Dubai Land Department registered 2,698 residential sales worth AED 3.8bn — 18% fewer than in May 2017, when it registered 3,306, and 30% less by value. Most were homes not yet built: 1,674 off-plan against 1,024 completed. A completed home changed hands at a median AED 1.18M, AED 894 a square foot — 2% less a foot than in May 2017.
The month in its year
May 2018 against the twelve months before it
2,698 sales in May 2018 — the most in a month since October 2017, against 3,306 in May 2017. Off-plan was 62% of the month, against 43% a year earlier.
Completed homes
What a completed home sold for in May 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 186 | AED 420K | 898 |
| 1 B/R | 299 | AED 731K | 901 |
| 2 B/R | 210 | AED 1.50M | 1,005 |
| 3 B/R | 105 | AED 2.40M | 1,048 |
| 4 B/R | 37 | AED 3.05M | 1,257 |
| PENTHOUSE | 11 | AED 6.94M | 3,305 |
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
- 19, 1 May to 31 May. The busiest was 7 May: 292 sales, AED 429m.
- Off-plan
- 1,674 sales at a median AED 1,303 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 361 of the 2,698, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 137 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 May, 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 | 291 | 283 | 1,059 |
| Business Bay | 223 | 204 | 1,196 |
| Dubai Marina | 217 | 113 | 1,222 |
| Jumeirah Village Circle | 187 | 121 | 843 |
| Town Square | 120 | 114 | 710 |
| Downtown Dubai | 105 | 62 | 1,518 |
| Dubai South (Dubai World Central) | 98 | 95 | 1,051 |
| International City | 95 | 1 | 563 |
| Arjan | 92 | 77 | 1,225 |
| Dubai Hills Estate | 91 | 76 | 761 |
| Dubai Sports City | 82 | 16 | 951 |
| Palm Jumeirah | 74 | 35 | 1,169 |
| Al Quoz | 74 | 74 | — |
| Al Furjan | 55 | 16 | 1,257 |
| Damac Hills | 53 | 39 | 992 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,518 | 43 |
| Culture Village | 1,479 | 12 |
| Al Furjan | 1,257 | 39 |
| Jumeirah Beach Residence | 1,244 | 29 |
| Arjan | 1,225 | 15 |
| Dubai Marina | 1,222 | 104 |
| Jumeirah Golf Estates | 1,201 | 18 |
| Business Bay | 1,196 | 19 |
| Palm Jumeirah | 1,169 | 39 |
| Greens | 1,096 | 13 |
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 May 2018
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Naseem TownhousesTown Square | 87 | all | 657 |
| 2 | Jewelz by DanubeArjan | 64 | all | 1,154 |
| 3 | Vida Residences Dubai MarinaDubai Marina | 57 | all | 1,726 |
| 4 | Al Khail Heights 9A-9BAl Quoz | 56 | all | 850 |
| 5 | Azizi Riviera 16Meydan | 55 | all | 1,601 |
| 6 | Reva ResidencesBusiness Bay | 48 | all | 847 |
| 7 | Azizi Riviera 1Meydan | 47 | all | 1,464 |
| 8 | Vera ResidencesBusiness Bay | 46 | all | 1,573 |
| 9 | Downtown Views II Tower 2Zabeel | 36 | all | 1,825 |
| 10 | Park Heights 1Dubai Hills Estate | 32 | all | 1,332 |
| 11 | Golf Vita ADamac Hills | 32 | all | 1,348 |
| 12 | Aykon City Tower CBusiness Bay | 30 | all | 1,672 |
| 13 | LIV ResidenceDubai Marina | 28 | all | 1,646 |
| 14 | Azizi Riviera 3Meydan | 27 | all | 1,389 |
| 15 | The DreamzAl Furjan | 25 | 0 | 1,335 |
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 May 2018
The dearest was an AED 25M off-plan four-bedroom home at BV Residences 4, Jumeirah Bay Island — 7,085 sq ft at AED 3,527 a square foot, registered on 28 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 28 May 2018 | BV Residences 4Jumeirah Bay Island | 4 B/R | 7,085 | AED 25M | 3,527 | Off-plan |
| 7 May 2018 | One at Palm JumeirahPalm Jumeirah | 3 B/R | 7,162 | AED 22M | 3,122 | Off-plan |
| 2 May 2018 | Palm Jumeirah | 4 B/R | 6,583 | AED 19M | 2,810 | Completed |
| 30 May 2018 | Al Bateen ResidencesJumeirah Beach Residence | PENTHOUSE | 7,289 | AED 15M | 2,058 | Completed |
| 21 May 2018 | Serenia Residences Building BPalm Jumeirah | 3 B/R | 5,520 | AED 14M | 2,584 | Completed |
| 3 May 2018 | Boulevard Crescent Tower 1Downtown Dubai | 4 B/R | 6,978 | AED 12M | 1,709 | Off-plan |
| 8 May 2018 | Silverene Tower ADubai Marina | 5 B/R | 9,604 | AED 10M | 1,041 | Completed |
| 17 May 2018 | Palm Jumeirah | PENTHOUSE | 2,987 | AED 9.89M | 3,311 | Completed |
| 8 May 2018 | Murjan 1Jumeirah Beach Residence | 4 B/R | 5,908 | AED 8.50M | 1,439 | Completed |
| 1 May 2018 | Al DabasPalm Jumeirah | 4 B/R | 5,236 | AED 8.15M | 1,557 | Completed |
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 May 2018, answered
How many properties were sold in Dubai in May 2018?
2,698 residential sales were registered at the Dubai Land Department in May 2018, worth AED 3.8bn: 1,674 off-plan and 1,024 completed homes. That is 18% fewer than in May 2017, when 3,306 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 May 2018?
The dearest apartment or villa registered was an AED 25M off-plan four-bedroom home at BV Residences 4, Jumeirah Bay Island — 7,085 sq ft at AED 3,527 a square foot, registered on 28 May. Next came AED 22M at One at Palm Jumeirah, Palm Jumeirah, and AED 19M in the Land Department's Palm Jumeirah area. 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 May 2018?
Meydan, with 291 registered sales, almost all of them off-plan; then Business Bay (223) and Dubai Marina (217). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,518 across 43 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.