Dubai property prices › Month by month › June 2018
The Dubai property market in June 2018
In June 2018 the Dubai Land Department registered 1,730 residential sales worth AED 3.1bn — 4% fewer than in June 2017, when it registered 1,794, and 2% less by value. Most were homes not yet built: 900 off-plan against 830 completed. A completed home changed hands at a median AED 1.30M, AED 895 a square foot — 5% less a foot than in June 2017.
The month in its year
June 2018 against the twelve months before it
1,730 sales in June 2018 — the fewest in a month since September 2016, against 1,794 in June 2017. Off-plan was 52% of the month, against 42% a year earlier.
Completed homes
What a completed home sold for in June 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 | 144 | AED 370K | 944 |
| 1 B/R | 229 | AED 775K | 962 |
| 2 B/R | 190 | AED 1.52M | 1,029 |
| 3 B/R | 93 | AED 2.13M | 849 |
| 4 B/R | 23 | AED 2.89M | 791 |
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
- 15, 4 June to 28 June. The busiest was 25 June: 337 sales, AED 497m.
- Off-plan
- 900 sales at a median AED 1,136 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 316 of the 1,730, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 112 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 June, 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 |
|---|---|---|---|
| Business Bay | 146 | 109 | 1,294 |
| Town Square | 139 | 127 | 699 |
| Dubai Marina | 125 | 43 | 1,291 |
| Jumeirah Village Circle | 106 | 82 | 877 |
| Downtown Dubai | 104 | 68 | 1,491 |
| Al Quoz | 87 | 87 | — |
| Arjan | 78 | 72 | 850 |
| Dubai Sports City | 62 | 9 | 890 |
| International City | 60 | 0 | 569 |
| Damac Hills | 53 | 17 | 1,059 |
| Dubai Hills Estate | 47 | 36 | 782 |
| Jumeirah Lake Towers | 46 | 3 | 947 |
| Palm Jumeirah | 45 | 3 | 1,793 |
| Dubai South (Dubai World Central) | 39 | 38 | 1,204 |
| Meydan | 32 | 26 | 933 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Palm Jumeirah | 1,793 | 42 |
| Downtown Dubai | 1,491 | 36 |
| Business Bay | 1,294 | 37 |
| Dubai Marina | 1,291 | 82 |
| Jumeirah Beach Residence | 1,149 | 24 |
| Damac Hills | 1,059 | 36 |
| Greens | 1,041 | 17 |
| Jumeirah Lake Towers | 947 | 43 |
| Jumeirah Village Triangle | 900 | 11 |
| Dubai Sports City | 890 | 53 |
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 June 2018
The 15 buildings with the most sales registered in June, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Naseem TownhousesTown Square | 105 | all | 661 |
| 2 | Jewelz by DanubeArjan | 67 | all | 1,154 |
| 3 | Al Khail Heights 2A-2BAl Quoz | 54 | all | 265 |
| 4 | Mada Residences by ARTARDowntown Dubai | 38 | all | 1,700 |
| 5 | LIV ResidenceDubai Marina | 33 | all | 1,598 |
| 6 | Bloom Towers BJumeirah Village Circle | 30 | all | 1,019 |
| 7 | Marquise Square TowerBusiness Bay | 23 | all | 1,836 |
| 8 | Vera ResidencesBusiness Bay | 16 | all | 1,573 |
| 9 | Royal Amwaj Residences NorthPalm Jumeirah | 16 | 0 | 2,334 |
| 10 | The CosmopolitanBusiness Bay | 15 | 0 | 1,343 |
| 11 | Al Khail Heights 7A-7BAl Quoz | 15 | all | 266 |
| 12 | Golf Vita ADamac Hills | 14 | all | 1,401 |
| 13 | Urban OasisBusiness Bay | 14 | all | 1,492 |
| 14 | Aykon City Tower CBusiness Bay | 13 | all | 1,673 |
| 15 | MAG 565Dubai South (Dubai World Central) | 13 | all | 925 |
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 June 2018
The dearest was an AED 32M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 9,223 sq ft at AED 3,415 a square foot, registered on 25 June.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 25 Jun 2018 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 9,223 | AED 32M | 3,415 | Off-plan |
| 5 Jun 2018 | NB Residences 1Pearl Jumeirah | 4 B/R | 11,159 | AED 25M | 2,196 | Completed |
| 25 Jun 2018 | IL PrimoDowntown Dubai | 4 B/R | 5,212 | AED 20M | 3,845 | Off-plan |
| 25 Jun 2018 | IL PrimoDowntown Dubai | 4 B/R | 5,333 | AED 17M | 3,204 | Off-plan |
| 21 Jun 2018 | Palazzo VersaceCulture Village | 4 B/R | 4,715 | AED 11M | 2,333 | Completed |
| 20 Jun 2018 | BV Residences 5Jumeirah Bay Island | 3 B/R | 2,698 | AED 10M | 3,874 | Off-plan |
| 20 Jun 2018 | DT1Downtown Dubai | 4 B/R | 5,643 | AED 10M | 1,786 | Off-plan |
| 21 Jun 2018 | 23 MarinaDubai Marina | 4 B/R | 5,645 | AED 9.50M | 1,683 | Completed |
| 12 Jun 2018 | BV Residences 1Jumeirah Bay Island | 3 B/R | 2,698 | AED 9.37M | 3,473 | Off-plan |
| 12 Jun 2018 | BV Residences 1Jumeirah Bay Island | 3 B/R | 2,698 | AED 9.24M | 3,425 | Off-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 June 2018, answered
How many properties were sold in Dubai in June 2018?
1,730 residential sales were registered at the Dubai Land Department in June 2018, worth AED 3.1bn: 900 off-plan and 830 completed homes. That is 4% fewer than in June 2017, when 1,794 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 June 2018?
The dearest apartment or villa registered was an AED 32M off-plan four-bedroom home at One at Palm Jumeirah, Palm Jumeirah — 9,223 sq ft at AED 3,415 a square foot, registered on 25 June. Next came AED 25M at NB Residences 1, Pearl Jumeirah, and AED 20M 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 June 2018?
Business Bay, with 146 registered sales, 109 of them off-plan; then Town Square (139) and Dubai Marina (125). The dearest, by the median price of a square foot of completed home, was Palm Jumeirah at AED 1,793 across 42 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.