Dubai property prices › Month by month › September 2018

The Dubai property market in September 2018

In September 2018 the Dubai Land Department registered 1,696 residential sales worth AED 2.5bn — 22% fewer than in September 2017, when it registered 2,187, and 36% less by value. Most were homes not yet built: 963 off-plan against 733 completed. A completed home changed hands at a median AED 1.10M, AED 819 a square foot — 9% less a foot than in September 2017.

Sales registered

1,696

−22% on September 2017 (2,187)

Value

AED 2.5bn

−36% on September 2017 (AED 3.9bn)

Off-plan

963

57% of the month · 733 completed

Completed homes, median

AED 819

per sq ft · AED 1.10M a home · −9% on September 2017

The month in its year

September 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale1,696 in September 2018

2,187

3,049

2,343

2,659

2,147

2,171

1,934

2,087

2,698

1,730

2,162

1,147

1,696

SSep2017OOct2017NNov2017DDec2017JJan2018FFeb2018MMar2018AApr2018MMay2018JJun2018JJul2018AAug2018SSep2018

1,696 sales in September 2018, against 2,187 in September 2017. Off-plan was 57% of the month, against 60% a year earlier.

Completed homes

What a completed home sold for in September 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	124	AED 403K	831
1 B/R	233	AED 755K	880
2 B/R	142	AED 1.22M	925
3 B/R	75	AED 2.05M	852
4 B/R	26	AED 2.35M	918

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: 16, 3 September to 28 September. The busiest was 24 September: 235 sales, AED 391m.
Off-plan: 963 sales at a median AED 972 a square foot — its own line, never blended into the completed-home medians.
Villas: 278 of the 1,696, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans: 146 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 September, 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
International City	267	199	539
Business Bay	126	106	1,127
Jumeirah Village Circle	122	89	839
Dubai Marina	107	10	1,033
Villanova	89	89	—
Arjan	64	48	865
Downtown Dubai	62	38	1,577
Mohammed Bin Rashid City	50	49	1,642
Dubai Creek Harbour (The Lagoons)	48	48	—
Meydan	48	28	750
Jumeirah Lake Towers	42	8	990
Town Square	40	29	654
Dubai Hills Estate	38	32	785
Damac Hills	31	16	807
Dubai Silicon Oasis	31	9	792

Dearest community	AED/sqft	Resales
Downtown Dubai	1,577	24
Business Bay	1,127	20
Palm Jumeirah	1,050	20
Dubai Marina	1,033	97
Greens	1,031	16
Jumeirah Lake Towers	990	34
Jumeirah Village Triangle	987	15
Dubai Land Residence Complex	927	22
Arjan	865	16
Jumeirah Village Circle	839	33

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 September 2018

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

	Building	Sales	Off-plan	AED/sqft
1	Lawnz by Danube Block 2International City	81	all	847
2	Lawnz by Danube Block 1International City	66	all	842
3	The GrandDubai Creek Harbour (The Lagoons)	42	all	1,882
4	Amaranta 3Villanova	40	all	801
5	Amaranta 2Villanova	37	all	729
6	Lawnz by Danube Block 3International City	31	all	861
7	Jewelz by DanubeArjan	31	all	1,166
8	Escan TowerDubai Marina	27	0	1,017
9	Lawnz by Danube Block 4International City	21	all	867
10	Joya Verde ResidencesJumeirah Village Circle	16	all	895
11	MAG 318Business Bay	15	all	1,786
12	La QuintaDubai Land	15	0	640
13	The Polo Residence C2Meydan	14	0	750
14	Damac Towers by Paramount Tower BBusiness Bay	13	all	2,172
15	Chaimaa PremiereJumeirah Village Circle	13	all	952

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 September 2018

The dearest was an AED 21M off-plan five-bedroom home at The Crescent W Residences, Palm Jumeirah — 7,685 sq ft at AED 2,741 a square foot, registered on 12 September.

Registered	Home	Layout	Sq ft	Price	AED/sqft	Sold
12 Sept 2018	The Crescent W ResidencesPalm Jumeirah	5 B/R	7,685	AED 21M	2,741	Off-plan
11 Sept 2018	Palazzo VersaceCulture Village	2 B/R	3,718	AED 17M	4,522	Completed
17 Sept 2018	The Crescent W ResidencesPalm Jumeirah	3 B/R	5,983	AED 17M	2,759	Off-plan
11 Sept 2018	Palm Jumeirah	2 B/R	4,002	AED 11M	2,649	Completed
3 Sept 2018	Atlantis The Royal ResidencesPalm Jumeirah	2 B/R	2,081	AED 8.50M	4,085	Off-plan
11 Sept 2018	Residences_E1Downtown Dubai	3 B/R	2,599	AED 7.80M	3,001	Completed
5 Sept 2018	23 MarinaDubai Marina	4 B/R	5,645	AED 7.40M	1,311	Completed
4 Sept 2018	The One JBRJumeirah Beach Residence	3 B/R	2,589	AED 7.38M	2,850	Off-plan
17 Sept 2018	BV Residences 3Jumeirah Bay Island	2 B/R	2,088	AED 7.20M	3,449	Completed
3 Sept 2018	Atlantis The Royal ResidencesPalm Jumeirah	2 B/R	2,060	AED 7.10M	3,447	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 September 2018, answered

How many properties were sold in Dubai in September 2018?

1,696 residential sales were registered at the Dubai Land Department in September 2018, worth AED 2.5bn: 963 off-plan and 733 completed homes. That is 22% fewer than in September 2017, when 2,187 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 September 2018?

The dearest apartment or villa registered was an AED 21M off-plan five-bedroom home at The Crescent W Residences, Palm Jumeirah — 7,685 sq ft at AED 2,741 a square foot, registered on 12 September. Next came AED 17M at Palazzo Versace, Culture Village, and AED 17M at The Crescent W Residences, Palm 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 September 2018?

International City, with 267 registered sales, 199 of them off-plan; then Business Bay (126) and Jumeirah Village Circle (122). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,577 across 24 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 Sept 2018.

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