Dubai property prices › Month by month › July 2018

The Dubai property market in July 2018

In July 2018 the Dubai Land Department registered 2,162 residential sales worth AED 3.9bn — 28% fewer than in July 2017, when it registered 2,999, and 16% less by value. Most were homes not yet built: 1,144 off-plan against 1,018 completed. A completed home changed hands at a median AED 1.35M, AED 858 a square foot — 7% less a foot than in July 2017.

Sales registered

2,162

−28% on July 2017 (2,999)

Value

AED 3.9bn

−16% on July 2017 (AED 4.6bn)

Off-plan

1,144

53% of the month · 1,018 completed

Completed homes, median

AED 858

per sq ft · AED 1.35M a home · −7% on July 2017

The month in its year

July 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,162 in July 2018

2,999

3,412

2,187

3,049

2,343

2,659

2,147

2,171

1,934

2,087

2,698

1,730

2,162

JJul2017AAug2017SSep2017OOct2017NNov2017DDec2017JJan2018FFeb2018MMar2018AApr2018MMay2018JJun2018JJul2018

2,162 sales in July 2018, against 2,999 in July 2017. Off-plan was 53% of the month, against 58% a year earlier.

Completed homes

What a completed home sold for in July 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	133	AED 400K	841
1 B/R	294	AED 700K	827
2 B/R	223	AED 1.50M	1,005
3 B/R	147	AED 2.38M	888
4 B/R	36	AED 3.10M	1,113

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: 18, 2 July to 31 July. The busiest was 30 July: 238 sales, AED 350m.
Off-plan: 1,144 sales at a median AED 1,240 a square foot — its own line, never blended into the completed-home medians.
Villas: 366 of the 2,162, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans: 168 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 July, 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
Dubai Marina	164	47	1,111
Business Bay	137	113	1,200
Jumeirah Village Circle	127	73	866
International City	114	27	568
Dubai Hills Estate	104	82	792
Mohammed Bin Rashid City	101	99	1,943
Downtown Dubai	86	70	1,656
Damac Hills	79	43	975
City Walk	76	0	1,784
Town Square	75	54	686
Dubai Sports City	73	31	955
Arjan	70	66	1,033
Dubai South (Dubai World Central)	58	58	—
Discovery Gardens	52	0	538
Bluewaters	46	46	—

Dearest community	AED/sqft	Resales
City Walk	1,784	76
Downtown Dubai	1,656	16
The Views	1,325	10
Culture Village	1,300	16
Al Furjan	1,237	12
Business Bay	1,200	24
Palm Jumeirah	1,157	34
Jumeirah Beach Residence	1,135	18
Dubai Marina	1,111	117
Jumeirah Lake Towers	1,089	30

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 July 2018

The 15 buildings with the most sales registered in July, each linking its own recorded history.

	Building	Sales	Off-plan	AED/sqft
1	Citywalk Residential Building 2BCity Walk	69	0	1,784
2	Jewelz by DanubeArjan	53	all	1,165
3	Mediterranean Cluster Building 47Discovery Gardens	33	0	535
4	Golf Vita ADamac Hills	30	all	1,360
5	Bluewaters Residences Building 7Bluewaters	26	all	2,121
6	Mohammed Bin Rashid Al Maktoum City, District One Phase III, Residences 16Mohammed Bin Rashid City	26	all	1,637
7	Marina SuitesDubai Marina	25	0	706
8	Naseem TownhousesTown Square	24	all	677
9	Al Jawhara TowerJumeirah Village Triangle	24	all	1,092
10	Lawnz by Danube Block 1International City	23	all	823
11	Mada Residences by ARTARDowntown Dubai	23	all	1,700
12	Aykon City Tower CBusiness Bay	21	all	1,671
13	Maple at Dubai Hills Estate 3Dubai Hills Estate	19	all	1,000
14	Amaranta 3Villanova	19	all	797
15	Club Villas at Dubai HillsDubai Hills Estate	19	all	1,130

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 July 2018

The dearest was an AED 19M off-plan five-bedroom home in the Land Department's World Islands area — 11,819 sq ft at AED 1,565 a square foot, registered on 2 July.

Registered	Home	Layout	Sq ft	Price	AED/sqft	Sold
2 Jul 2018	World Islands	5 B/R	11,819	AED 19M	1,565	Off-plan
11 Jul 2018	BV Residences 5Jumeirah Bay Island	3 B/R	3,169	AED 14M	4,418	Completed
9 Jul 2018	Le ReveDubai Marina	4 B/R	6,308	AED 12M	1,902	Completed
12 Jul 2018	Jumeirah Gate Tower 1Jumeirah Beach Residence	5 B/R	4,300	AED 12M	2,779	Off-plan
3 Jul 2018	Palazzo VersaceCulture Village	4 B/R	4,715	AED 11M	2,333	Completed
3 Jul 2018	Palazzo VersaceCulture Village	4 B/R	4,717	AED 11M	2,332	Completed
31 Jul 2018	BV Residences 5Jumeirah Bay Island	3 B/R	2,698	AED 11M	3,920	Completed
19 Jul 2018	Citywalk Residential Building 2BCity Walk	1 B/R	1,294	AED 8.35M	6,449	Completed
2 Jul 2018	World Islands	4 B/R	3,328	AED 8.00M	2,404	Off-plan
2 Jul 2018	World Islands	4 B/R	3,394	AED 8.00M	2,357	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 July 2018, answered

How many properties were sold in Dubai in July 2018?

2,162 residential sales were registered at the Dubai Land Department in July 2018, worth AED 3.9bn: 1,144 off-plan and 1,018 completed homes. That is 28% fewer than in July 2017, when 2,999 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 July 2018?

The dearest apartment or villa registered was an AED 19M off-plan five-bedroom home in the Land Department's World Islands area — 11,819 sq ft at AED 1,565 a square foot, registered on 2 July. Next came AED 14M at BV Residences 5, Jumeirah Bay Island, and AED 12M at Le Reve, Dubai Marina. 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 July 2018?

Dubai Marina, with 164 registered sales, 117 of them completed homes; then Business Bay (137) and Jumeirah Village Circle (127). The dearest, by the median price of a square foot of completed home, was City Walk at AED 1,784 across 76 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 Jul 2018.

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