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Dubai property prices › Month by month › December 2018

The Dubai property market in December 2018

In December 2018 the Dubai Land Department registered 1,946 residential sales worth AED 3.0bn — 27% fewer than in December 2017, when it registered 2,659, and 41% less by value. Most were homes not yet built: 1,022 off-plan against 924 completed. A completed home changed hands at a median AED 1.07M, AED 804 a square foot — 14% less a foot than in December 2017.

Sales registered
1,946
−27% on December 2017 (2,659)
Value
AED 3.0bn
−41% on December 2017 (AED 5.1bn)
Off-plan
1,022
53% of the month · 924 completed
Completed homes, median
AED 804
per sq ft · AED 1.07M a home · −14% on December 2017

The month in its year

December 2018 against the twelve months before it

Residential sales registered, by monthOff-planResale1,946 in December 2018
2,659
1,946
DJ2018FMAMJJASOND

1,946 sales in December 2018, against 2,659 in December 2017. Off-plan was 53% of the month, against 53% a year earlier.

Completed homes

What a completed home sold for in December 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
Studio148AED 350K753
1 B/R310AED 650K812
2 B/R190AED 1.45M954
3 B/R110AED 1.95M806
4 B/R29AED 2.50M717

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, 4 December to 31 December. The busiest was 17 December: 224 sales, AED 344m.
Off-plan
1,022 sales at a median AED 1,299 a square foot — its own line, never blended into the completed-home medians.
Villas
337 of the 1,946, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
184 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 December, 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 City19389466
Business Bay1471221,615
Dubai Marina124321,265
Jumeirah Village Circle12142780
Dubai Hills Estate117105838
Downtown Dubai113741,496
Villanova9696—
Meydan9384994
Arjan6351814
Dubai Sports City6220767
Palm Jumeirah4841,405
Dubai Creek Harbour (The Lagoons)4747—
Town Square3722643
Damac Hills3517812
Jumeirah Lake Towers352963
Dearest communityAED/sqftResales
Business Bay1,61525
Downtown Dubai1,49639
Palm Jumeirah1,40544
Jumeirah Beach Residence1,29027
Dubai Marina1,26592
Jumeirah Lake Towers96333
Dubai Land Residence Complex94818
Dubai Hills Estate83812
Damac Hills 283319
Al Furjan82116

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 December 2018

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

The dearest was an AED 47M completed four-bedroom home at Palme Couture Residences, Palm Jumeirah — 13,584 sq ft at AED 3,463 a square foot, registered on 18 December.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
18 Dec 2018Palme Couture ResidencesPalm Jumeirah4 B/R13,584AED 47M3,463Completed
18 Dec 2018Palme Couture ResidencesPalm Jumeirah5 B/R10,087AED 35M3,470Completed
18 Dec 2018Palme Couture ResidencesPalm Jumeirah4 B/R4,917AED 19M3,762Completed
11 Dec 2018IL PrimoDowntown Dubai4 B/R5,212AED 18M3,508Off-plan
25 Dec 2018VolanteBusiness Bay3 B/R5,040AED 14M2,751Completed
19 Dec 2018Maple at Dubai Hills Estate 1Dubai Hills Estate5 B/R3,567AED 11M3,084Off-plan
24 Dec 2018Imperial AvenueDowntown Dubai3 B/R3,710AED 6.96M1,875Off-plan
19 Dec 2018Casa FamiliaMotor City5 B/R4,864AED 6.81M1,400Completed
13 Dec 2018Forte 1Downtown Dubai4 B/R2,440AED 6.68M2,738Off-plan
19 Dec 2018Casa FamiliaMotor City5 B/R4,917AED 6.15M1,251Completed

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 December 2018, answered

How many properties were sold in Dubai in December 2018?

1,946 residential sales were registered at the Dubai Land Department in December 2018, worth AED 3.0bn: 1,022 off-plan and 924 completed homes. That is 27% fewer than in December 2017, when 2,659 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 December 2018?

The dearest apartment or villa registered was an AED 47M completed four-bedroom home at Palme Couture Residences, Palm Jumeirah — 13,584 sq ft at AED 3,463 a square foot, registered on 18 December. Next came AED 35M at Palme Couture Residences, Palm Jumeirah, and AED 19M at Palme Couture 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 December 2018?

International City, with 193 registered sales, 104 of them completed homes; then Business Bay (147) and Dubai Marina (124). The dearest, by the median price of a square foot of completed home, was Business Bay at AED 1,615 across 25 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 Dec 2018.

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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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