Dubai property prices › Month by month › March 2020
The Dubai property market in March 2020
In March 2020 the Dubai Land Department registered 2,479 residential sales worth AED 4.2bn — 13% more than in March 2019, when it registered 2,185, and 23% more by value. Most were homes not yet built: 1,332 off-plan against 1,147 completed. A completed home changed hands at a median AED 1.20M, AED 771 a square foot — 2% less a foot than in March 2019.
The month in its year
March 2020 against the twelve months before it
2,479 sales in March 2020, against 2,185 in March 2019. Off-plan was 54% of the month, against 59% a year earlier.
Completed homes
What a completed home sold for in March 2020
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 | 185 | AED 266K | 663 |
| 1 B/R | 324 | AED 686K | 798 |
| 2 B/R | 222 | AED 1.26M | 946 |
| 3 B/R | 173 | AED 2.20M | 939 |
| 4 B/R | 51 | AED 2.67M | 887 |
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
- 22, 2 March to 31 March. The busiest was 2 March: 306 sales, AED 511m.
- Off-plan
- 1,332 sales at a median AED 1,321 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 387 of the 2,479, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 295 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 March, 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 |
|---|---|---|---|
| Business Bay | 172 | 131 | 1,535 |
| Downtown Dubai | 166 | 134 | 1,269 |
| Mohammed Bin Rashid City | 145 | 121 | 1,458 |
| Jumeirah Village Circle | 138 | 88 | 613 |
| Dubai Marina | 138 | 9 | 1,220 |
| Jumeirah Beach Residence | 108 | 18 | 1,095 |
| Dubai Hills Estate | 107 | 54 | 835 |
| Jumeirah Lake Towers | 96 | 47 | 791 |
| Jumeirah | 73 | 73 | — |
| Liwan | 73 | 57 | 564 |
| Dubai Creek Harbour (The Lagoons) | 69 | 65 | 1,301 |
| Dubai Harbour | 68 | 68 | — |
| Palm Jumeirah | 67 | 43 | 1,180 |
| International City | 64 | 4 | 451 |
| Dubai Sports City | 63 | 34 | 621 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 2,042 | 21 |
| Business Bay | 1,535 | 41 |
| Mohammed Bin Rashid City | 1,458 | 24 |
| Downtown Dubai | 1,269 | 32 |
| Dubai Marina | 1,220 | 129 |
| Palm Jumeirah | 1,180 | 24 |
| Meydan | 1,172 | 14 |
| Jumeirah Beach Residence | 1,095 | 90 |
| Motor City | 1,001 | 15 |
| Dubai Land Residence Complex | 946 | 29 |
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 March 2020
The 15 buildings with the most sales registered in March, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Burj CrownDowntown Dubai | 88 | all | 1,877 |
| 2 | Al Fattan Marine TowersJumeirah Beach Residence | 65 | 0 | 1,150 |
| 3 | Wavez ResidenceLiwan | 57 | all | 887 |
| 4 | Golf Views Seven CityJumeirah Lake Towers | 44 | all | 954 |
| 5 | La Voile Building 2Jumeirah | 42 | all | 1,774 |
| 6 | Zada TowerBusiness Bay | 42 | all | 1,519 |
| 7 | Seven PalmPalm Jumeirah | 41 | all | 1,739 |
| 8 | The Terraces NMohammed Bin Rashid City | 35 | all | 1,248 |
| 9 | Easy18Al Warsan | 32 | 0 | 719 |
| 10 | Beach Isle Tower 1Dubai Harbour | 31 | all | 2,302 |
| 11 | Hera TowerDubai Sports City | 24 | all | 757 |
| 12 | The Terraces SMohammed Bin Rashid City | 22 | all | 1,212 |
| 13 | EdenThe Valley | 21 | all | 633 |
| 14 | Paramount Tower Hotel & ResidencesBusiness Bay | 21 | all | 1,321 |
| 15 | ParkviewsTown Square | 20 | all | 1,010 |
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 March 2020
The dearest was an AED 23M completed five-bedroom home at Le Reve, Dubai Marina — 14,349 sq ft at AED 1,568 a square foot, registered on 23 March.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 23 Mar 2020 | Le ReveDubai Marina | 5 B/R | 14,349 | AED 23M | 1,568 | Completed |
| 12 Mar 2020 | BV Residences 4Jumeirah Bay Island | 4 B/R | 9,439 | AED 22M | 2,312 | Completed |
| 19 Mar 2020 | IL PrimoDowntown Dubai | 4 B/R | 5,212 | AED 20M | 3,818 | Off-plan |
| 24 Mar 2020 | IL PrimoDowntown Dubai | 4 B/R | 5,333 | AED 19M | 3,591 | Off-plan |
| 9 Mar 2020 | Palme Couture ResidencesPalm Jumeirah | 3 B/R | 4,777 | AED 17M | 3,559 | Completed |
| 30 Mar 2020 | IL PrimoDowntown Dubai | 4 B/R | 5,212 | AED 17M | 3,245 | Off-plan |
| 12 Mar 2020 | BV Residences 6Jumeirah Bay Island | 3 B/R | 8,137 | AED 16M | 1,952 | Completed |
| 4 Mar 2020 | La VieJumeirah Beach Residence | 5 B/R | 4,453 | AED 13M | 2,986 | Off-plan |
| 4 Mar 2020 | BV Residences 3Jumeirah Bay Island | 3 B/R | 3,169 | AED 13M | 3,945 | Completed |
| 23 Mar 2020 | Marina Gate 2Dubai Marina | 4 B/R | 5,807 | AED 12M | 2,137 | 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 March 2020, answered
How many properties were sold in Dubai in March 2020?
2,479 residential sales were registered at the Dubai Land Department in March 2020, worth AED 4.2bn: 1,332 off-plan and 1,147 completed homes. That is 13% more than in March 2019, when 2,185 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 March 2020?
The dearest apartment or villa registered was an AED 23M completed five-bedroom home at Le Reve, Dubai Marina — 14,349 sq ft at AED 1,568 a square foot, registered on 23 March. Next came AED 22M at BV Residences 4, Jumeirah Bay Island, and AED 20M at IL Primo, Downtown Dubai. 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 March 2020?
Business Bay, with 172 registered sales, 131 of them off-plan; then Downtown Dubai (166) and Mohammed Bin Rashid City (145). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 2,042 across 21 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.