Dubai property prices › Month by month › December 2022
The Dubai property market in December 2022
In December 2022 the Dubai Land Department registered 7,812 residential sales worth AED 19.4bn — 73% more than in December 2021, when it registered 4,516, and 87% more by value. Most were homes not yet built: 4,188 off-plan against 3,624 completed. A completed home changed hands at a median AED 1.50M, AED 1,082 a square foot — 14% more a foot than in December 2021.
The month in its year
December 2022 against the twelve months before it
7,812 sales in December 2022, against 4,516 in December 2021. Off-plan was 54% of the month, against 50% a year earlier.
Completed homes
What a completed home sold for in December 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 | 505 | AED 385K | 882 |
| 1 B/R | 1,107 | AED 804K | 995 |
| 2 B/R | 723 | AED 1.79M | 1,259 |
| 3 B/R | 369 | AED 2.58M | 1,114 |
| 4 B/R | 100 | AED 2.80M | 961 |
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
- 22, 1 December to 30 December. The busiest was 26 December: 581 sales, AED 1.3bn.
- Off-plan
- 4,188 sales at a median AED 1,883 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 869 of the 7,812, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,234 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 December, 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 | 753 | 540 | 1,394 |
| Mohammed Bin Rashid City | 569 | 514 | 1,765 |
| Dubai Marina | 526 | 263 | 1,348 |
| Jumeirah Village Circle | 478 | 202 | 945 |
| Damac Lagoons | 454 | 0 | 1,226 |
| Meydan | 416 | 393 | 1,232 |
| Dubai Creek Harbour (The Lagoons) | 302 | 224 | 1,754 |
| Palm Jumeirah | 256 | 161 | 2,011 |
| The Views | 248 | 228 | 1,347 |
| Downtown Dubai | 228 | 119 | 1,835 |
| Jumeirah Lake Towers | 216 | 121 | 981 |
| City Walk | 193 | 166 | 1,578 |
| Dubai Hills Estate | 188 | 72 | 1,577 |
| Arjan | 183 | 98 | 798 |
| Damac Hills | 183 | 40 | 1,019 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 3,926 | 16 |
| Dubai Harbour | 3,429 | 26 |
| Umm Suqeim | 2,611 | 16 |
| Jumeirah | 2,579 | 18 |
| Zabeel | 2,220 | 11 |
| Palm Jumeirah | 2,011 | 95 |
| Downtown Dubai | 1,835 | 109 |
| Mohammed Bin Rashid City | 1,765 | 55 |
| Dubai Creek Harbour (The Lagoons) | 1,754 | 78 |
| Bur Dubai | 1,730 | 80 |
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 December 2022
The 15 buildings with the most sales registered in December, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Marina ShoresDubai Marina | 251 | all | 2,434 |
| 2 | MarbellaDamac Lagoons | 241 | 0 | 1,243 |
| 3 | Golf HeightsThe Views | 228 | all | 2,167 |
| 4 | Azizi Riviera 46Meydan | 129 | all | 2,007 |
| 5 | Chic TowerBusiness Bay | 128 | all | 2,146 |
| 6 | South Bay 1Dubai South (Dubai World Central) | 123 | all | 746 |
| 7 | The Crest Tower BMohammed Bin Rashid City | 100 | all | 1,925 |
| 8 | Peninsula FourBusiness Bay | 99 | all | 2,296 |
| 9 | Dune ResidencyJumeirah Village Circle | 98 | 0 | 945 |
| 10 | Palm Beach Towers 3Palm Jumeirah | 95 | all | 3,651 |
| 11 | Luxury Family ResidencesBusiness Bay | 90 | all | 1,480 |
| 12 | The Crest Tower CMohammed Bin Rashid City | 82 | all | 1,924 |
| 13 | Mudon Al Ranim 3Mudon | 76 | all | 1,097 |
| 14 | Al Kifaf 1 Residences - 1Bur Dubai | 72 | 0 | 1,735 |
| 15 | Azizi Riviera 13Meydan | 69 | all | 1,357 |
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 December 2022
The dearest was an AED 61M off-plan four-bedroom home at Palm Beach Towers 3, Palm Jumeirah — 15,202 sq ft at AED 4,000 a square foot, registered on 27 December.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 27 Dec 2022 | Palm Beach Towers 3Palm Jumeirah | 4 B/R | 15,202 | AED 61M | 4,000 | Off-plan |
| 21 Dec 2022 | Palm Beach Towers 3Palm Jumeirah | 4 B/R | 15,202 | AED 61M | 4,000 | Off-plan |
| 15 Dec 2022 | Orla by OmniyatPalm Jumeirah | 4 B/R | 7,997 | AED 61M | 7,577 | Off-plan |
| 28 Dec 2022 | Orla by OmniyatPalm Jumeirah | 4 B/R | 8,100 | AED 59M | 7,301 | Off-plan |
| 15 Dec 2022 | Orla by OmniyatPalm Jumeirah | 4 B/R | 8,320 | AED 59M | 7,070 | Off-plan |
| 28 Dec 2022 | Private ResidencesJumeirah | 4 B/R | 9,473 | AED 58M | 6,110 | Off-plan |
| 13 Dec 2022 | Jumeirah Second | 5 B/R | 10,539 | AED 54M | 5,089 | Off-plan |
| 15 Dec 2022 | Royal Residences Jumeirah Zabeel SarayPalm Jumeirah | 5 B/R | 11,589 | AED 53M | 4,573 | Completed |
| 28 Dec 2022 | Orla by OmniyatPalm Jumeirah | 4 B/R | 7,776 | AED 51M | 6,620 | Off-plan |
| 8 Dec 2022 | Jumeirah Second | 5 B/R | 8,949 | AED 50M | 5,592 | 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 December 2022, answered
How many properties were sold in Dubai in December 2022?
7,812 residential sales were registered at the Dubai Land Department in December 2022, worth AED 19.4bn: 4,188 off-plan and 3,624 completed homes. That is 73% more than in December 2021, when 4,516 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 December 2022?
The dearest apartment or villa registered was an AED 61M off-plan four-bedroom home at Palm Beach Towers 3, Palm Jumeirah — 15,202 sq ft at AED 4,000 a square foot, registered on 27 December. Next came AED 61M at Palm Beach Towers 3, Palm Jumeirah, and AED 61M at Orla by Omniyat, 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 December 2022?
Business Bay, with 753 registered sales, 540 of them off-plan; then Mohammed Bin Rashid City (569) and Dubai Marina (526). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 3,926 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.