Dubai property prices › Month by month › May 2020
The Dubai property market in May 2020
In May 2020 the Dubai Land Department registered 1,057 residential sales worth AED 1.6bn — 60% fewer than in May 2019, when it registered 2,642, and 64% less by value. Most were homes not yet built: 701 off-plan against 356 completed. A completed home changed hands at a median AED 1.25M, AED 760 a square foot — 4% less a foot than in May 2019.
The month in its year
May 2020 against the twelve months before it
1,057 sales in May 2020 — the fewest in a month since September 2010, against 2,642 in May 2019. Off-plan was 66% of the month, against 62% a year earlier.
Completed homes
What a completed home sold for in May 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 | 36 | AED 356K | 691 |
| 1 B/R | 103 | AED 700K | 863 |
| 2 B/R | 89 | AED 1.26M | 843 |
| 3 B/R | 65 | AED 1.93M | 738 |
| 4 B/R | 11 | AED 2.80M | 617 |
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 May to 29 May. The busiest was 4 May: 163 sales, AED 178m.
- Off-plan
- 701 sales at a median AED 1,540 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 133 of the 1,057, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 91 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 May, 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 |
|---|---|---|---|
| Mohammed Bin Rashid City | 319 | 316 | 1,335 |
| Jumeirah Village Circle | 113 | 99 | 723 |
| Jumeirah Lake Towers | 58 | 52 | 753 |
| Business Bay | 58 | 40 | 1,487 |
| Jumeirah Beach Residence | 35 | 25 | 906 |
| Dubai Marina | 34 | 1 | 1,128 |
| Dubai South (Dubai World Central) | 32 | 29 | 633 |
| Downtown Dubai | 30 | 7 | 1,245 |
| Dubai Sports City | 23 | 1 | 425 |
| International City | 22 | 11 | 434 |
| Palm Jumeirah | 21 | 1 | 977 |
| Town Square | 18 | 4 | 654 |
| Dubai Creek Harbour (The Lagoons) | 18 | 15 | 1,518 |
| Arabian Ranches 3 | 15 | 15 | — |
| Jumeirah | 14 | 14 | — |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Business Bay | 1,487 | 18 |
| Downtown Dubai | 1,245 | 23 |
| Dubai Marina | 1,128 | 33 |
| Palm Jumeirah | 977 | 20 |
| Jumeirah Beach Residence | 906 | 10 |
| Al Furjan | 887 | 10 |
| Jumeirah Village Circle | 723 | 14 |
| Town Square | 654 | 14 |
| The Springs | 486 | 10 |
| International City | 434 | 11 |
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 May 2020
The 15 buildings with the most sales registered in May, 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 May 2020
The dearest was an AED 16M completed two-bedroom home at Volante, Business Bay — 5,040 sq ft at AED 3,095 a square foot, registered on 18 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 18 May 2020 | VolanteBusiness Bay | 2 B/R | 5,040 | AED 16M | 3,095 | Completed |
| 8 May 2020 | The One JBRJumeirah Beach Residence | 4 B/R | 3,752 | AED 14M | 3,684 | Off-plan |
| 12 May 2020 | The One JBRJumeirah Beach Residence | 3 B/R | 2,571 | AED 8.42M | 3,275 | Completed |
| 20 May 2020 | Sunrise Bay Tower 1Dubai Harbour | 4 B/R | 2,728 | AED 6.20M | 2,274 | Off-plan |
| 5 May 2020 | Damac HeightsDubai Marina | 3 B/R | 2,454 | AED 6.00M | 2,445 | Completed |
| 5 May 2020 | The One JBRJumeirah Beach Residence | 2 B/R | 1,906 | AED 5.51M | 2,892 | Completed |
| 13 May 2020 | Casa FamiliaMotor City | 4 B/R | 3,231 | AED 5.00M | 1,547 | Completed |
| 4 May 2020 | The Fairmont Palm Residence NorthPalm Jumeirah | 3 B/R | 4,073 | AED 4.95M | 1,215 | Completed |
| 6 May 2020 | La VieJumeirah Beach Residence | 3 B/R | 2,068 | AED 4.78M | 2,310 | Off-plan |
| 4 May 2020 | Le Pont Building 2Jumeirah | 3 B/R | 2,014 | AED 4.44M | 2,205 | 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 May 2020, answered
How many properties were sold in Dubai in May 2020?
1,057 residential sales were registered at the Dubai Land Department in May 2020, worth AED 1.6bn: 701 off-plan and 356 completed homes. That is 60% fewer than in May 2019, when 2,642 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 May 2020?
The dearest apartment or villa registered was an AED 16M completed two-bedroom home at Volante, Business Bay — 5,040 sq ft at AED 3,095 a square foot, registered on 18 May. Next came AED 14M at The One JBR, Jumeirah Beach Residence, and AED 8.42M at The One JBR, Jumeirah Beach Residence. 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 May 2020?
Mohammed Bin Rashid City, with 319 registered sales, almost all of them off-plan; then Jumeirah Village Circle (113) and Jumeirah Lake Towers (58). The dearest, by the median price of a square foot of completed home, was Business Bay at AED 1,487 across 18 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.