Dubai property prices › Month by month › May 2022
The Dubai property market in May 2022
In May 2022 the Dubai Land Department registered 5,627 residential sales worth AED 13.7bn — 57% more than in May 2021, when it registered 3,589, and 88% more by value. Most were completed homes: 3,158, against 2,469 off-plan. A completed home changed hands at a median AED 1.59M, AED 1,028 a square foot — 15% more a foot than in May 2021.
The month in its year
May 2022 against the twelve months before it
5,627 sales in May 2022, against 3,589 in May 2021. Off-plan was 44% of the month, against 42% a year earlier.
Completed homes
What a completed home sold for in May 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 368 | AED 416K | 903 |
| 1 B/R | 818 | AED 813K | 997 |
| 2 B/R | 685 | AED 1.60M | 1,071 |
| 3 B/R | 342 | AED 2.76M | 1,152 |
| 5 B/R | 11 | AED 3.75M | 1,184 |
| 4 B/R | 121 | AED 4.00M | 1,317 |
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, 2 May to 31 May. The busiest was 26 May: 475 sales, AED 1.0bn.
- Off-plan
- 2,469 sales at a median AED 1,738 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 789 of the 5,627, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,148 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 |
|---|---|---|---|
| Business Bay | 595 | 394 | 1,476 |
| Downtown Dubai | 492 | 348 | 1,778 |
| Damac Lagoons | 348 | 0 | 1,101 |
| Jumeirah Village Circle | 259 | 121 | 910 |
| Dubai Creek Harbour (The Lagoons) | 256 | 201 | 1,787 |
| Dubai Marina | 245 | 38 | 1,189 |
| Mohammed Bin Rashid City | 220 | 172 | 1,281 |
| Al Safa | 187 | 187 | — |
| Palm Jumeirah | 170 | 40 | 2,090 |
| Dubai South (Dubai World Central) | 165 | 72 | 597 |
| Jumeirah Lake Towers | 141 | 14 | 1,050 |
| Dubai Hills Estate | 126 | 26 | 1,325 |
| Arabian Ranches 3 | 121 | 105 | 1,011 |
| Arjan | 111 | 78 | 900 |
| Jumeirah | 109 | 102 | 2,166 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 3,277 | 16 |
| Dubai Harbour | 2,880 | 23 |
| Umm Suqeim | 2,162 | 20 |
| Palm Jumeirah | 2,090 | 130 |
| City Walk | 1,812 | 12 |
| Dubai Creek Harbour (The Lagoons) | 1,787 | 55 |
| Downtown Dubai | 1,778 | 144 |
| Bur Dubai | 1,508 | 43 |
| Business Bay | 1,476 | 201 |
| Jumeirah Beach Residence | 1,355 | 91 |
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 2022
The 15 buildings with the most sales registered in May, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | The St. Regis Residences - Tower 1Downtown Dubai | 216 | all | 3,155 |
| 2 | PortofinoDamac Lagoons | 177 | 0 | 1,126 |
| 3 | Creek PalaceDubai Creek Harbour (The Lagoons) | 120 | all | 1,933 |
| 4 | Peninsula TwoBusiness Bay | 100 | all | 1,853 |
| 5 | Peninsula OneBusiness Bay | 83 | all | 1,849 |
| 6 | Damac City Tower BAl Safa | 67 | all | 2,160 |
| 7 | Rukan 3Rukan | 65 | all | 686 |
| 8 | NiceDamac Lagoons | 64 | 0 | 1,101 |
| 9 | Waves GrandeMohammed Bin Rashid City | 63 | all | 1,700 |
| 10 | MBL ResidenceJumeirah Lake Towers | 63 | 0 | 1,050 |
| 11 | Bliss 2Arabian Ranches 3 | 62 | all | 1,429 |
| 12 | Damac City Tower AAl Safa | 60 | all | 2,193 |
| 13 | The Pulse BeachfrontDubai South (Dubai World Central) | 55 | all | 671 |
| 14 | Skyz by DanubeArjan | 50 | all | 1,225 |
| 15 | Ahad ResidencesBusiness Bay | 49 | all | 1,652 |
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 2022
The dearest was an AED 82M off-plan five-bedroom home at Six Senses Residences, Palm Jumeirah — 26,514 sq ft at AED 3,099 a square foot, registered on 17 May.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 17 May 2022 | Six Senses ResidencesPalm Jumeirah | 5 B/R | 26,514 | AED 82M | 3,099 | Off-plan |
| 18 May 2022 | Six Senses ResidencesPalm Jumeirah | 5 B/R | 26,514 | AED 82M | 3,085 | Off-plan |
| 17 May 2022 | IL PrimoDowntown Dubai | 5 B/R | 11,407 | AED 51M | 4,427 | Off-plan |
| 13 May 2022 | Atlantis The Royal ResidencesPalm Jumeirah | 4 B/R | 6,894 | AED 41M | 5,991 | Off-plan |
| 17 May 2022 | Six Senses ResidencesPalm Jumeirah | 4 B/R | 6,466 | AED 41M | 6,356 | Off-plan |
| 10 May 2022 | Dorchester Collection DubaiBusiness Bay | 2 B/R | 7,713 | AED 39M | 5,042 | Off-plan |
| 19 May 2022 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 6,284 | AED 37M | 5,888 | Completed |
| 24 May 2022 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 6,376 | AED 37M | 5,803 | Completed |
| 2 May 2022 | The ResidencesJumeirah Lake Towers | 5 B/R | 11,210 | AED 36M | 3,195 | Completed |
| 17 May 2022 | Six Senses ResidencesPalm Jumeirah | 3 B/R | 5,121 | AED 28M | 5,468 | 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 2022, answered
How many properties were sold in Dubai in May 2022?
5,627 residential sales were registered at the Dubai Land Department in May 2022, worth AED 13.7bn: 2,469 off-plan and 3,158 completed homes. That is 57% more than in May 2021, when 3,589 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 2022?
The dearest apartment or villa registered was an AED 82M off-plan five-bedroom home at Six Senses Residences, Palm Jumeirah — 26,514 sq ft at AED 3,099 a square foot, registered on 17 May. Next came AED 82M at Six Senses Residences, Palm Jumeirah, and AED 51M 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 May 2022?
Business Bay, with 595 registered sales, 394 of them off-plan; then Downtown Dubai (492) and Damac Lagoons (348). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 3,277 across 16 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.