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Dubai property prices › Month by month › February 2021

The Dubai property market in February 2021

In February 2021 the Dubai Land Department registered 2,586 residential sales worth AED 4.1bn — 17% fewer than in February 2020, when it registered 3,108, and 25% less by value. Most were completed homes: 1,769, against 817 off-plan. A completed home changed hands at a median AED 1.07M, AED 741 a square foot — 2% more a foot than in February 2020.

Sales registered
2,586
−17% on February 2020 (3,108)
Value
AED 4.1bn
−25% on February 2020 (AED 5.5bn)
Off-plan
817
32% of the month · 1,769 completed
Completed homes, median
AED 741
per sq ft · AED 1.07M a home · +2% on February 2020

The month in its year

February 2021 against the twelve months before it

Residential sales registered, by monthOff-planResale2,586 in February 2021
3,108
2,586
F2020MAMJJASONDJ2021F

2,586 sales in February 2021, against 3,108 in February 2020. Off-plan was 32% of the month, against 64% a year earlier.

Completed homes

What a completed home sold for in February 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.

LayoutSalesMedian priceAED/sqft
Studio215AED 300K704
1 B/R536AED 568K675
2 B/R369AED 1.22M820
3 B/R269AED 1.95M818
4 B/R78AED 2.80M873

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
20, 1 February to 26 February. The busiest was 1 February: 250 sales, AED 479m.
Off-plan
817 sales at a median AED 1,116 a square foot — its own line, never blended into the completed-home medians.
Villas
456 of the 2,586, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
432 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 February, 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
Business Bay190681,112
Mohammed Bin Rashid City1741731,084
Jumeirah Village Circle16497702
Dubai Marina15421,167
Palm Jumeirah125571,067
Downtown Dubai106311,328
Town Square1058862
Dubai Hills Estate1017930
Jumeirah Lake Towers10031741
Al Warsan970391
International City9324411
Damac Hills7911774
Al Jaddaf7473888
Dubai Sports City720593
Remraam580450
Dearest communityAED/sqftResales
Bluewaters1,97812
Downtown Dubai1,32875
Dubai Marina1,167152
Al Barsha1,14018
Business Bay1,112122
Palm Jumeirah1,06768
Meydan1,05115
Jumeirah Beach Residence95438
Dubai Hills Estate93094
Town Square86297

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 February 2021

The 15 buildings with the most sales registered in February, 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 February 2021

The dearest was an AED 44M completed five-bedroom home at Palme Couture Residences, Palm Jumeirah — 10,087 sq ft at AED 4,312 a square foot, registered on 1 February.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
1 Feb 2021Palme Couture ResidencesPalm Jumeirah5 B/R10,087AED 44M4,312Completed
1 Feb 2021Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 20M4,502Completed
4 Feb 2021Palme Couture ResidencesPalm Jumeirah4 B/R6,841AED 17M2,535Completed
16 Feb 2021VolanteBusiness Bay2 B/R5,046AED 16M3,092Completed
22 Feb 2021Jumeirah Living Marina GateDubai Marina5 B/R7,002AED 15M2,189Completed
4 Feb 2021Palme Couture ResidencesPalm Jumeirah4 B/R5,430AED 15M2,763Completed
15 Feb 2021Oceana SouthernPalm Jumeirah4 B/R5,355AED 12M2,241Completed
3 Feb 2021Marina Gate 2Dubai Marina4 B/R5,777AED 12M2,075Completed
15 Feb 2021Jumeirah Living Marina GateDubai Marina4 B/R4,735AED 11M2,323Completed
22 Feb 2021Sur La MerJumeirah5 B/R8,377AED 10M1,242Off-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 February 2021, answered

How many properties were sold in Dubai in February 2021?

2,586 residential sales were registered at the Dubai Land Department in February 2021, worth AED 4.1bn: 817 off-plan and 1,769 completed homes. That is 17% fewer than in February 2020, when 3,108 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 February 2021?

The dearest apartment or villa registered was an AED 44M completed five-bedroom home at Palme Couture Residences, Palm Jumeirah — 10,087 sq ft at AED 4,312 a square foot, registered on 1 February. Next came AED 20M at Royal Residences Jumeirah Zabeel Saray, Palm Jumeirah, and AED 17M 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 February 2021?

Business Bay, with 190 registered sales, 122 of them completed homes; then Mohammed Bin Rashid City (174) and Jumeirah Village Circle (164). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 1,978 across 12 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 28 Feb 2021.

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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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