Dubai property prices › Month by month › January 2021
The Dubai property market in January 2021
In January 2021 the Dubai Land Department registered 2,529 residential sales worth AED 4.0bn — 23% more than in January 2020, when it registered 2,050, and 15% more by value. Most were completed homes: 1,684, against 845 off-plan. A completed home changed hands at a median AED 1.20M, AED 808 a square foot — 12% more a foot than in January 2020.
The month in its year
January 2021 against the twelve months before it
2,529 sales in January 2021 — the fewest in a month since September 2020, against 2,050 in January 2020. Off-plan was 33% of the month, against 48% a year earlier.
Completed homes
What a completed home sold for in January 2021
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 | 212 | AED 376K | 890 |
| 1 B/R | 442 | AED 712K | 907 |
| 2 B/R | 373 | AED 1.23M | 873 |
| 3 B/R | 234 | AED 1.80M | 765 |
| 4 B/R | 98 | AED 2.75M | 852 |
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
- 21, 1 January to 29 January. The busiest was 4 January: 412 sales, AED 714m.
- Off-plan
- 845 sales at a median AED 1,057 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 557 of the 2,529, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 524 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 January, 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 | 279 | 42 | 1,205 |
| Jumeirah Village Circle | 218 | 162 | 729 |
| Dubai Marina | 163 | 5 | 978 |
| Town Square | 125 | 9 | 882 |
| Mohammed Bin Rashid City | 124 | 122 | 1,600 |
| Damac Hills | 82 | 8 | 845 |
| International City | 82 | 14 | 396 |
| Downtown Dubai | 78 | 19 | 1,209 |
| Dubai Sports City | 76 | 0 | 838 |
| Jumeirah Lake Towers | 75 | 17 | 695 |
| Palm Jumeirah | 72 | 12 | 984 |
| Villanova | 67 | 52 | 620 |
| Meydan | 60 | 27 | 1,039 |
| Jumeirah Beach Residence | 55 | 26 | 836 |
| Al Jaddaf | 54 | 53 | 1,116 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Downtown Dubai | 1,209 | 59 |
| Business Bay | 1,205 | 237 |
| Meydan | 1,039 | 33 |
| The Views | 1,005 | 14 |
| Palm Jumeirah | 984 | 60 |
| Dubai Marina | 978 | 158 |
| Dubai Hills Estate | 885 | 47 |
| Town Square | 882 | 116 |
| Damac Hills | 845 | 74 |
| Dubai Sports City | 838 | 76 |
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 January 2021
The 15 buildings with the most sales registered in January, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | MAG 930Mohammed Bin Rashid City | 50 | all | 1,204 |
| 2 | SOL BayBusiness Bay | 47 | 0 | 1,178 |
| 3 | Binghatti AvenueAl Jaddaf | 44 | all | 818 |
| 4 | Noura TowerBusiness Bay | 39 | 0 | 1,250 |
| 5 | Marbella VillageDubai Sports City | 33 | 0 | 846 |
| 6 | Elite Business Bay ResidenceBusiness Bay | 33 | 0 | 1,061 |
| 7 | Bloom Towers BJumeirah Village Circle | 32 | all | 1,020 |
| 8 | Oxford BoulevardJumeirah Village Circle | 32 | all | 954 |
| 9 | Una Apartments BTown Square | 30 | 4 | — |
| 10 | Park Residences 4Damac Hills | 29 | 0 | 901 |
| 11 | MAG 318Business Bay | 29 | 0 | 2,055 |
| 12 | ElanTilal Al Ghaf | 28 | all | 883 |
| 13 | Pantheon ElyseeJumeirah Village Circle | 27 | all | 1,080 |
| 14 | Grand ViewsMeydan | 27 | 0 | 1,236 |
| 15 | Merano TowerBusiness Bay | 26 | 0 | 1,200 |
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 January 2021
The dearest was an AED 33M completed four-bedroom home at BV Residences 2, Jumeirah Bay Island — 6,550 sq ft at AED 5,038 a square foot, registered on 27 January.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 27 Jan 2021 | BV Residences 2Jumeirah Bay Island | 4 B/R | 6,550 | AED 33M | 5,038 | Completed |
| 13 Jan 2021 | The Crescent W ResidencesPalm Jumeirah | 3 B/R | 6,330 | AED 20M | 3,113 | Off-plan |
| 13 Jan 2021 | The Crescent W ResidencesPalm Jumeirah | 3 B/R | 6,330 | AED 19M | 2,993 | Off-plan |
| 25 Jan 2021 | IL PrimoDowntown Dubai | 4 B/R | 5,333 | AED 16M | 2,944 | Off-plan |
| 18 Jan 2021 | Serenia Residences Building BPalm Jumeirah | 3 B/R | 4,877 | AED 15M | 3,117 | Completed |
| 26 Jan 2021 | Marina Gate 2Dubai Marina | 4 B/R | 5,791 | AED 12M | 1,986 | Completed |
| 8 Jan 2021 | BV Residences 5Jumeirah Bay Island | 3 B/R | 3,169 | AED 10M | 3,156 | Completed |
| 4 Jan 2021 | Palazzo VersaceCulture Village | 4 B/R | 4,717 | AED 10M | 2,120 | Completed |
| 29 Jan 2021 | Wadi Al Safa 7 | 5 B/R | 9,102 | AED 8.00M | 879 | Completed |
| 21 Jan 2021 | La VieJumeirah Beach Residence | 4 B/R | 3,050 | AED 7.78M | 2,549 | 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 January 2021, answered
How many properties were sold in Dubai in January 2021?
2,529 residential sales were registered at the Dubai Land Department in January 2021, worth AED 4.0bn: 845 off-plan and 1,684 completed homes. That is 23% more than in January 2020, when 2,050 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 January 2021?
The dearest apartment or villa registered was an AED 33M completed four-bedroom home at BV Residences 2, Jumeirah Bay Island — 6,550 sq ft at AED 5,038 a square foot, registered on 27 January. Next came AED 20M at The Crescent W Residences, Palm Jumeirah, and AED 19M at The Crescent W 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 January 2021?
Business Bay, with 279 registered sales, 237 of them completed homes; then Jumeirah Village Circle (218) and Dubai Marina (163). The dearest, by the median price of a square foot of completed home, was Downtown Dubai at AED 1,209 across 59 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.