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Dubai property prices › Month by month › March 2022

The Dubai property market in March 2022

In March 2022 the Dubai Land Department registered 6,854 residential sales worth AED 15.8bn — 80% more than in March 2021, when it registered 3,815, and 125% more by value. Most were completed homes: 3,912, against 2,942 off-plan. A completed home changed hands at a median AED 1.71M, AED 1,075 a square foot — 31% more a foot than in March 2021.

Sales registered
6,854
+80% on March 2021 (3,815)
Value
AED 15.8bn
+125% on March 2021 (AED 7.0bn)
Off-plan
2,942
43% of the month · 3,912 completed
Completed homes, median
AED 1,075
per sq ft · AED 1.71M a home · +31% on March 2021

The month in its year

March 2022 against the twelve months before it

Residential sales registered, by monthOff-planResale6,854 in March 2022
3,815
6,854
M2021AMJJASONDJ2022FM

6,854 sales in March 2022 — more than any month since January 2009, against 3,815 in March 2021. Off-plan was 43% of the month, against 41% a year earlier.

Completed homes

What a completed home sold for in March 2022

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
Studio491AED 384K851
1 B/R809AED 810K969
2 B/R746AED 1.65M1,177
3 B/R389AED 2.54M1,133
4 B/R135AED 3.42M1,132
5 B/R14AED 3.84M1,150

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
23, 1 March to 31 March. The busiest was 23 March: 377 sales, AED 990m.
Off-plan
2,942 sales at a median AED 1,595 a square foot — its own line, never blended into the completed-home medians.
Villas
1,013 of the 6,854, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,796 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 communitySalesOff-planCompleted AED/sqft
Business Bay7084821,382
Damac Lagoons63201,101
Jumeirah Village Circle430239886
Mohammed Bin Rashid City4252731,253
Downtown Dubai3742261,844
Dubai Creek Harbour (The Lagoons)3312691,725
Dubai Marina257471,275
Dubai Hills Estate247541,384
International City1841434
Dubai Harbour1661312,569
Jumeirah Lake Towers147111,008
Arabian Ranches 314697997
City Walk1391271,718
Dubai South (Dubai World Central)137113705
Arjan13373842
Dearest communityAED/sqftResales
Bluewaters3,45015
Dubai Harbour2,56935
Umm Suqeim2,13726
Jumeirah2,07313
Downtown Dubai1,844148
Dubai Creek Harbour (The Lagoons)1,72562
City Walk1,71812
Palm Jumeirah1,55185
Bur Dubai1,51836
Jumeirah Beach Residence1,41139

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 2022

The 15 buildings with the most sales registered in March, 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 March 2022

The dearest was an AED 57M completed four-bedroom home at The Crescent W Residences, Palm Jumeirah — 14,848 sq ft at AED 3,839 a square foot, registered on 11 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
11 Mar 2022The Crescent W ResidencesPalm Jumeirah4 B/R14,848AED 57M3,839Completed
1 Mar 2022Serenia Residences Building BPalm Jumeirah4 B/R12,869AED 50M3,885Completed
23 Mar 2022One at Palm JumeirahPalm Jumeirah4 B/R6,336AED 34M5,366Completed
7 Mar 2022BV Residences 4Jumeirah Bay Island3 B/R8,036AED 34M4,169Off-plan
17 Mar 2022Villa AmalfiJumeirah5 B/R5,005AED 30M5,993Completed
14 Mar 2022Cavalli Casa TowerDubai Media City5 B/R6,175AED 26M4,290Off-plan
10 Mar 2022Atlantis The Royal ResidencesPalm Jumeirah3 B/R3,770AED 24M6,233Off-plan
17 Mar 2022IL PrimoDowntown Dubai4 B/R5,333AED 23M4,313Off-plan
29 Mar 2022Beach Isle Tower 1Dubai Harbour6 B/R2,584AED 23M8,858Off-plan
29 Mar 2022Beach Isle Tower 1Dubai Harbour6 B/R2,584AED 23M8,823Off-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 March 2022, answered

How many properties were sold in Dubai in March 2022?

6,854 residential sales were registered at the Dubai Land Department in March 2022, worth AED 15.8bn: 2,942 off-plan and 3,912 completed homes. That is 80% more than in March 2021, when 3,815 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 2022?

The dearest apartment or villa registered was an AED 57M completed four-bedroom home at The Crescent W Residences, Palm Jumeirah — 14,848 sq ft at AED 3,839 a square foot, registered on 11 March. Next came AED 50M at Serenia Residences Building B, Palm Jumeirah, and AED 34M at One at Palm Jumeirah, 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 March 2022?

Business Bay, with 708 registered sales, 482 of them off-plan; then Damac Lagoons (632) and Jumeirah Village Circle (430). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 3,450 across 15 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 Mar 2022.

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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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