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Dubai property prices › Month by month › October 2018

The Dubai property market in October 2018

In October 2018 the Dubai Land Department registered 2,591 residential sales worth AED 4.0bn — 15% fewer than in October 2017, when it registered 3,049, and 21% less by value. Most were homes not yet built: 1,477 off-plan against 1,114 completed. A completed home changed hands at a median AED 1.24M, AED 806 a square foot — 6% less a foot than in October 2017.

Sales registered
2,591
−15% on October 2017 (3,049)
Value
AED 4.0bn
−21% on October 2017 (AED 5.0bn)
Off-plan
1,477
57% of the month · 1,114 completed
Completed homes, median
AED 806
per sq ft · AED 1.24M a home · −6% on October 2017

The month in its year

October 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,591 in October 2018
3,049
2,591
ONDJ2018FMAMJJASO

2,591 sales in October 2018 — the most in a month since May 2018, against 3,049 in October 2017. Off-plan was 57% of the month, against 60% a year earlier.

Completed homes

What a completed home sold for in October 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.

LayoutSalesMedian priceAED/sqft
Studio162AED 400K818
1 B/R319AED 725K840
2 B/R218AED 1.30M932
3 B/R123AED 2.10M872
4 B/R24AED 2.71M668

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 October to 31 October. The busiest was 15 October: 357 sales, AED 477m.
Off-plan
1,477 sales at a median AED 1,100 a square foot — its own line, never blended into the completed-home medians.
Villas
344 of the 2,591, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
282 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 October, 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 communitySalesOff-planCompleted AED/sqft
International City457357507
Jumeirah Village Circle168111757
Business Bay1671081,200
Downtown Dubai1651141,512
Dubai Creek Harbour (The Lagoons)140140—
Dubai Marina136491,038
Town Square8257691
Dubai Hills Estate7469777
Arjan6853850
Villanova6464—
Dubai Land583638
Jumeirah Lake Towers5817984
Meydan5651932
Dubai Sports City5310807
Dubai South (Dubai World Central)5353—
Dearest communityAED/sqftResales
Downtown Dubai1,51251
Business Bay1,20059
Motor City1,18412
Jumeirah Beach Residence1,12025
The Views1,11511
Palm Jumeirah1,09225
Dubai Marina1,03887
Greens1,01922
Jumeirah Lake Towers98441
Dubai Land Residence Complex95240

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 October 2018

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

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 October 2018

The dearest was an AED 18M off-plan three-bedroom home at The Crescent W Residences, Palm Jumeirah — 6,576 sq ft at AED 2,666 a square foot, registered on 3 October.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
3 Oct 2018The Crescent W ResidencesPalm Jumeirah3 B/R6,576AED 18M2,666Off-plan
1 Oct 2018The Crescent W ResidencesPalm Jumeirah3 B/R5,983AED 17M2,892Off-plan
11 Oct 2018One at Palm JumeirahPalm Jumeirah3 B/R3,616AED 15M4,049Off-plan
25 Oct 2018BV Residences 5Jumeirah Bay Island3 B/R3,169AED 13M4,103Completed
23 Oct 2018BV Residences 5Jumeirah Bay Island3 B/R2,698AED 11M3,920Completed
25 Oct 2018Burj KhalifaDowntown Dubai3 B/R2,728AED 8.79M3,221Completed
2 Oct 2018BV Residences 4Jumeirah Bay Island3 B/R2,630AED 8.73M3,318Completed
15 Oct 2018Boulevard PointDowntown Dubai5 B/R4,042AED 8.08M2,000Off-plan
1 Oct 2018GrandeDowntown Dubai4 B/R2,588AED 8.08M3,121Off-plan
18 Oct 2018BV Residences 2Jumeirah Bay Island2 B/R2,245AED 7.74M3,447Completed

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 October 2018, answered

How many properties were sold in Dubai in October 2018?

2,591 residential sales were registered at the Dubai Land Department in October 2018, worth AED 4.0bn: 1,477 off-plan and 1,114 completed homes. That is 15% fewer than in October 2017, when 3,049 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 October 2018?

The dearest apartment or villa registered was an AED 18M off-plan three-bedroom home at The Crescent W Residences, Palm Jumeirah — 6,576 sq ft at AED 2,666 a square foot, registered on 3 October. Next came AED 17M at The Crescent W Residences, Palm Jumeirah, and AED 15M at One at Palm Jumeirah, 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 October 2018?

International City, with 457 registered sales, 357 of them off-plan; then Jumeirah Village Circle (168) and Business Bay (167). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,512 across 51 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 Oct 2018.

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What is yours worth this month?

We read this register every day. Tell us the building and the unit and we will tell you what the last comparable sold for, and what this month's sales say about yours.

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