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Dubai property prices › Month by month › November 2018

The Dubai property market in November 2018

In November 2018 the Dubai Land Department registered 2,109 residential sales worth AED 3.3bn — 10% fewer than in November 2017, when it registered 2,343, and 12% less by value. Most were homes not yet built: 1,150 off-plan against 959 completed. A completed home changed hands at a median AED 1.08M, AED 828 a square foot — 8% less a foot than in November 2017.

Sales registered
2,109
−10% on November 2017 (2,343)
Value
AED 3.3bn
−12% on November 2017 (AED 3.8bn)
Off-plan
1,150
55% of the month · 959 completed
Completed homes, median
AED 828
per sq ft · AED 1.08M a home · −8% on November 2017

The month in its year

November 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale2,109 in November 2018
2,343
2,109
NDJ2018FMAMJJASON

2,109 sales in November 2018, against 2,343 in November 2017. Off-plan was 55% of the month, against 48% a year earlier.

Completed homes

What a completed home sold for in November 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
Studio159AED 350K730
1 B/R288AED 700K835
2 B/R182AED 1.45M969
3 B/R92AED 2.15M830
4 B/R34AED 3.01M1,074

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
17, 1 November to 29 November. The busiest was 26 November: 232 sales, AED 316m.
Off-plan
1,150 sales at a median AED 1,382 a square foot — its own line, never blended into the completed-home medians.
Villas
261 of the 2,109, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
222 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 November, 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 City291190475
Dubai Hills Estate184166832
Business Bay1591331,211
Downtown Dubai127901,493
Dubai Marina112291,210
Mohammed Bin Rashid City93921,480
Jumeirah Village Circle9044732
Dubai Sports City7629733
Damac Hills 2627828
Jumeirah Lake Towers554939
Dubai Creek Harbour (The Lagoons)5252—
Palm Jumeirah50201,415
Villanova4848—
Arjan4430861
Damac Hills4329831
Dearest communityAED/sqftResales
Downtown Dubai1,49337
Motor City1,43523
Palm Jumeirah1,41530
The Views1,25914
Business Bay1,21126
Dubai Marina1,21083
Jumeirah Golf Estates1,17410
Jumeirah Beach Residence1,06822
Greens97213
Jumeirah Lake Towers93951

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 November 2018

The 15 buildings with the most sales registered in November, 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 November 2018

The dearest was an AED 18M off-plan four-bedroom home at IL Primo, Downtown Dubai — 5,333 sq ft at AED 3,421 a square foot, registered on 27 November.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
27 Nov 2018IL PrimoDowntown Dubai4 B/R5,333AED 18M3,421Off-plan
19 Nov 2018The Crescent W ResidencesPalm Jumeirah3 B/R6,330AED 16M2,583Off-plan
5 Nov 2018D1 TowerCulture Village5 B/R9,203AED 15M1,630Completed
26 Nov 2018One at Palm JumeirahPalm Jumeirah3 B/R3,337AED 12M3,742Off-plan
12 Nov 2018The Palm TowerPalm Jumeirah2 B/R2,062AED 8.83M4,282Off-plan
19 Nov 2018BV Residences 4Jumeirah Bay Island3 B/R2,630AED 8.63M3,281Completed
20 Nov 2018Opera GrandDowntown Dubai3 B/R2,696AED 8.50M3,153Off-plan
13 Nov 2018BV Residences 6Jumeirah Bay Island2 B/R1,932AED 8.15M4,218Completed
20 Nov 2018Dubai Marina Mall HotelDubai MarinaPENTHOUSE3,404AED 8.00M2,350Completed
5 Nov 2018The Palm TowerPalm Jumeirah2 B/R2,142AED 7.86M3,670Off-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 November 2018, answered

How many properties were sold in Dubai in November 2018?

2,109 residential sales were registered at the Dubai Land Department in November 2018, worth AED 3.3bn: 1,150 off-plan and 959 completed homes. That is 10% fewer than in November 2017, when 2,343 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 November 2018?

The dearest apartment or villa registered was an AED 18M off-plan four-bedroom home at IL Primo, Downtown Dubai — 5,333 sq ft at AED 3,421 a square foot, registered on 27 November. Next came AED 16M at The Crescent W Residences, Palm Jumeirah, and AED 15M at D1 Tower, Culture Village. 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 November 2018?

International City, with 291 registered sales, 190 of them off-plan; then Dubai Hills Estate (184) and Business Bay (159). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,493 across 37 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 Nov 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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