Dubai property prices › Month by month › August 2022
The Dubai property market in August 2022
In August 2022 the Dubai Land Department registered 8,178 residential sales worth AED 18.2bn — 79% more than in August 2021, when it registered 4,557, and 75% more by value. Most were completed homes: 4,207, against 3,971 off-plan. A completed home changed hands at a median AED 1.65M, AED 1,064 a square foot — 15% more a foot than in August 2021.
The month in its year
August 2022 against the twelve months before it
8,178 sales in August 2022 — more than any month since January 2009, against 4,557 in August 2021. Off-plan was 49% of the month, against 50% a year earlier.
Completed homes
What a completed home sold for in August 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 | 547 | AED 379K | 892 |
| 1 B/R | 1,059 | AED 820K | 1,026 |
| 2 B/R | 786 | AED 1.60M | 1,090 |
| 3 B/R | 432 | AED 2.50M | 1,021 |
| 4 B/R | 97 | AED 3.23M | 1,064 |
| 5 B/R | 12 | AED 4.13M | 1,234 |
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 August to 31 August. The busiest was 15 August: 654 sales, AED 1.2bn.
- Off-plan
- 3,971 sales at a median AED 1,459 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 1,147 of the 8,178, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,799 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 August, 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 | 863 | 566 | 1,583 |
| Jumeirah Village Circle | 728 | 467 | 910 |
| Damac Lagoons | 717 | 0 | 1,138 |
| Downtown Dubai | 507 | 357 | 1,872 |
| Dubai Creek Harbour (The Lagoons) | 386 | 290 | 1,884 |
| Dubai South (Dubai World Central) | 354 | 311 | 662 |
| Arjan | 350 | 277 | 853 |
| Mohammed Bin Rashid City | 342 | 276 | 1,356 |
| Meydan | 311 | 284 | 1,328 |
| Dubai Marina | 283 | 74 | 1,192 |
| Dubai Harbour | 216 | 186 | 3,277 |
| Damac Hills | 183 | 30 | 1,071 |
| Damac Hills 2 | 170 | 10 | 700 |
| International City | 166 | 2 | 431 |
| Palm Jumeirah | 160 | 36 | 1,878 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 3,365 | 19 |
| Dubai Harbour | 3,277 | 30 |
| Umm Suqeim | 2,327 | 10 |
| Jumeirah | 2,172 | 11 |
| Dubai Creek Harbour (The Lagoons) | 1,884 | 96 |
| Palm Jumeirah | 1,878 | 124 |
| Downtown Dubai | 1,872 | 150 |
| Maritime City | 1,762 | 16 |
| Bur Dubai | 1,587 | 24 |
| Business Bay | 1,583 | 297 |
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 August 2022
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | MaltaDamac Lagoons | 396 | 0 | 1,143 |
| 2 | The Pulse Beachfront 3Dubai South (Dubai World Central) | 201 | all | 574 |
| 3 | Peninsula ThreeBusiness Bay | 159 | all | 2,095 |
| 4 | Address The BayDubai Harbour | 146 | all | 2,989 |
| 5 | The St. Regis Residences - Tower 2Downtown Dubai | 137 | all | 2,718 |
| 6 | The St. Regis Residences - Tower 1Downtown Dubai | 124 | all | 2,708 |
| 7 | Orchid at Creek Beach Building 1Dubai Creek Harbour (The Lagoons) | 114 | all | 1,756 |
| 8 | Binghatti HeightsJumeirah Village Circle | 98 | all | 767 |
| 9 | Luma21Jumeirah Village Circle | 96 | all | 1,010 |
| 10 | PortofinoDamac Lagoons | 92 | 0 | 1,094 |
| 11 | Binghatti CanalBusiness Bay | 90 | all | 1,618 |
| 12 | VeniceDamac Lagoons | 80 | 0 | 1,111 |
| 13 | NiceDamac Lagoons | 79 | 0 | 1,134 |
| 14 | Samana WavesJumeirah Village Circle | 78 | all | 1,208 |
| 15 | Ahad ResidencesBusiness Bay | 75 | all | 1,703 |
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 August 2022
The dearest was an AED 163M off-plan five-bedroom home at Atlantis The Royal Residences, Palm Jumeirah — 22,614 sq ft at AED 7,228 a square foot, registered on 22 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 22 Aug 2022 | Atlantis The Royal ResidencesPalm Jumeirah | 5 B/R | 22,614 | AED 163M | 7,228 | Off-plan |
| 15 Aug 2022 | One at Palm JumeirahPalm Jumeirah | 5 B/R | 22,222 | AED 85M | 3,825 | Completed |
| 18 Aug 2022 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 7,442 | AED 55M | 7,390 | Completed |
| 16 Aug 2022 | BV Residences 1Jumeirah Bay Island | 4 B/R | 9,112 | AED 50M | 5,487 | Off-plan |
| 26 Aug 2022 | Dorchester Collection DubaiBusiness Bay | 4 B/R | 7,712 | AED 42M | 5,446 | Off-plan |
| 26 Aug 2022 | Dorchester Collection DubaiBusiness Bay | 4 B/R | 7,797 | AED 39M | 5,034 | Off-plan |
| 29 Aug 2022 | Six Senses ResidencesPalm Jumeirah | 4 B/R | 6,475 | AED 39M | 6,009 | Off-plan |
| 16 Aug 2022 | BV Residences 1Jumeirah Bay Island | 3 B/R | 7,110 | AED 38M | 5,345 | Off-plan |
| 17 Aug 2022 | Dorchester Collection DubaiBusiness Bay | 4 B/R | 7,713 | AED 33M | 4,253 | Off-plan |
| 9 Aug 2022 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 7,172 | AED 29M | 4,000 | Completed |
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 August 2022, answered
How many properties were sold in Dubai in August 2022?
8,178 residential sales were registered at the Dubai Land Department in August 2022, worth AED 18.2bn: 3,971 off-plan and 4,207 completed homes. That is 79% more than in August 2021, when 4,557 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 August 2022?
The dearest apartment or villa registered was an AED 163M off-plan five-bedroom home at Atlantis The Royal Residences, Palm Jumeirah — 22,614 sq ft at AED 7,228 a square foot, registered on 22 August. Next came AED 85M at One at Palm Jumeirah, Palm Jumeirah, and AED 55M 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 August 2022?
Business Bay, with 863 registered sales, 566 of them off-plan; then Jumeirah Village Circle (728) and Damac Lagoons (717). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 3,365 across 19 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.