Dubai property prices › Month by month › August 2018
The Dubai property market in August 2018
In August 2018 the Dubai Land Department registered 1,147 residential sales worth AED 1.9bn — 66% fewer than in August 2017, when it registered 3,412, and 68% less by value. Most were completed homes: 585, against 562 off-plan. A completed home changed hands at a median AED 1.23M, AED 796 a square foot — 14% less a foot than in August 2017.
The month in its year
August 2018 against the twelve months before it
1,147 sales in August 2018 — the fewest in a month since November 2011, against 3,412 in August 2017. Off-plan was 49% of the month, against 61% a year earlier.
Completed homes
What a completed home sold for in August 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 | 101 | AED 350K | 715 |
| 1 B/R | 176 | AED 718K | 859 |
| 2 B/R | 96 | AED 1.38M | 980 |
| 3 B/R | 69 | AED 2.00M | 806 |
| 4 B/R | 20 | AED 2.75M | 658 |
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
- 14, 1 August to 30 August. The busiest was 13 August: 163 sales, AED 257m.
- Off-plan
- 562 sales at a median AED 1,188 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 191 of the 1,147, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 94 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 August, 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 |
|---|---|---|---|
| Jumeirah Village Circle | 109 | 67 | 841 |
| International City | 91 | 20 | 540 |
| Business Bay | 87 | 77 | 1,092 |
| Dubai Marina | 65 | 18 | 1,175 |
| Downtown Dubai | 56 | 38 | 1,604 |
| Dubai Hills Estate | 44 | 33 | 765 |
| Dubai Sports City | 43 | 13 | 800 |
| Villanova | 30 | 30 | — |
| Damac Hills | 30 | 12 | 1,153 |
| Town Square | 28 | 24 | 680 |
| Arjan | 27 | 22 | 826 |
| Jumeirah Lake Towers | 26 | 9 | 1,000 |
| Zabeel | 26 | 26 | — |
| Mohammed Bin Rashid City | 26 | 26 | — |
| Palm Jumeirah | 21 | 2 | 1,226 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,604 | 18 |
| Palm Jumeirah | 1,226 | 19 |
| Dubai Marina | 1,175 | 47 |
| Damac Hills | 1,153 | 18 |
| Jumeirah Beach Residence | 1,143 | 15 |
| Business Bay | 1,092 | 10 |
| Jumeirah Lake Towers | 1,000 | 17 |
| Dubai Silicon Oasis | 851 | 17 |
| Jumeirah Village Circle | 841 | 42 |
| Dubai Sports City | 800 | 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 August 2018
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Amaranta 2Villanova | 19 | all | 692 |
| 2 | Downtown Views II Tower 2Zabeel | 19 | all | 1,777 |
| 3 | Vera ResidencesBusiness Bay | 18 | all | 1,465 |
| 4 | Bloom Heights BJumeirah Village Circle | 16 | all | 928 |
| 5 | LIV ResidenceDubai Marina | 13 | all | 1,603 |
| 6 | Arabella TownhousesMudon | 13 | 0 | 794 |
| 7 | Belgravia Heights 1Jumeirah Village Circle | 12 | all | 961 |
| 8 | Lawnz by Danube Block 1International City | 12 | all | 832 |
| 9 | Aykon City Tower CBusiness Bay | 10 | all | 1,699 |
| 10 | Una Apartments BTown Square | 10 | all | 1,212 |
| 11 | Amaranta 3Villanova | 10 | all | 709 |
| 12 | Golf Vita ADamac Hills | 10 | all | 1,413 |
| 13 | Jewelz by DanubeArjan | 9 | all | 1,166 |
| 14 | Bellevue Tower 1Downtown Dubai | 9 | all | 1,612 |
| 15 | MAG 318Business Bay | 9 | all | 1,762 |
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 August 2018
The dearest was an AED 14M completed six-bedroom home at D1 Tower, Culture Village — 9,651 sq ft at AED 1,451 a square foot, registered on 2 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 2 Aug 2018 | D1 TowerCulture Village | 6 B/R | 9,651 | AED 14M | 1,451 | Completed |
| 6 Aug 2018 | The One JBRJumeirah Beach Residence | 4 B/R | 3,782 | AED 14M | 3,623 | Off-plan |
| 14 Aug 2018 | NB Residences 2Pearl Jumeirah | 4 B/R | 5,088 | AED 9.90M | 1,946 | Completed |
| 15 Aug 2018 | The Fairmont Palm Residence SouthPalm Jumeirah | 3 B/R | 3,538 | AED 6.60M | 1,865 | Completed |
| 14 Aug 2018 | BV Residences 4Jumeirah Bay Island | 2 B/R | 1,932 | AED 6.45M | 3,336 | Completed |
| 13 Aug 2018 | The Address Residences Dubai Opera Tower 1Downtown Dubai | 3 B/R | 1,676 | AED 6.42M | 3,831 | Off-plan |
| 9 Aug 2018 | The Address Residences Dubai Opera Tower 1Downtown Dubai | 3 B/R | 1,796 | AED 6.39M | 3,555 | Off-plan |
| 13 Aug 2018 | Yansoon 1Downtown Dubai | 3 B/R | 2,154 | AED 6.15M | 2,855 | Completed |
| 13 Aug 2018 | Seventh HeavenAl Barari | 2 B/R | 4,101 | AED 6.02M | 1,468 | Off-plan |
| 27 Aug 2018 | Iris BlueDubai Marina | 3 B/R | 3,477 | AED 5.78M | 1,661 | 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 August 2018, answered
How many properties were sold in Dubai in August 2018?
1,147 residential sales were registered at the Dubai Land Department in August 2018, worth AED 1.9bn: 562 off-plan and 585 completed homes. That is 66% fewer than in August 2017, when 3,412 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 August 2018?
The dearest apartment or villa registered was an AED 14M completed six-bedroom home at D1 Tower, Culture Village — 9,651 sq ft at AED 1,451 a square foot, registered on 2 August. Next came AED 14M at The One JBR, Jumeirah Beach Residence, and AED 9.90M at NB Residences 2, Pearl 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 August 2018?
Jumeirah Village Circle, with 109 registered sales, 67 of them off-plan; then International City (91) and Business Bay (87). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,604 across 18 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.