Dubai property prices › Month by month › April 2023
The Dubai property market in April 2023
In April 2023 the Dubai Land Department registered 6,937 residential sales worth AED 15.7bn — 19% more than in April 2022, when it registered 5,834, and 21% more by value. Most were homes not yet built: 3,694 off-plan against 3,243 completed. A completed home changed hands at a median AED 1.60M, AED 1,144 a square foot — 7% more a foot than in April 2022.
The month in its year
April 2023 against the twelve months before it
6,937 sales in April 2023 — the fewest in a month since July 2022, against 5,834 in April 2022. Off-plan was 53% of the month, against 42% a year earlier.
Completed homes
What a completed home sold for in April 2023
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 | 444 | AED 433K | 965 |
| 1 B/R | 882 | AED 870K | 1,105 |
| 2 B/R | 732 | AED 1.87M | 1,354 |
| 3 B/R | 427 | AED 2.83M | 1,262 |
| 4 B/R | 103 | AED 3.30M | 1,182 |
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
- 19, 3 April to 28 April. The busiest was 27 April: 659 sales, AED 1.2bn.
- Off-plan
- 3,694 sales at a median AED 1,457 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 693 of the 6,937, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,008 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 April, 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 |
|---|---|---|---|
| Jumeirah Village Circle | 1,066 | 868 | 951 |
| Dubai Hills Estate | 514 | 416 | 1,721 |
| Business Bay | 446 | 241 | 1,535 |
| Dubai Creek Harbour (The Lagoons) | 395 | 308 | 1,831 |
| Dubai Marina | 288 | 47 | 1,444 |
| Downtown Dubai | 251 | 93 | 1,936 |
| Damac Lagoons | 246 | 0 | 1,364 |
| Mohammed Bin Rashid City | 217 | 148 | 1,701 |
| Jumeirah Lake Towers | 181 | 86 | 1,055 |
| Arjan | 175 | 143 | 909 |
| Palm Jumeirah | 158 | 54 | 1,848 |
| Town Square | 153 | 104 | 855 |
| International City | 147 | 41 | 476 |
| Dubai Harbour | 132 | 109 | 3,414 |
| Meydan | 131 | 83 | 1,359 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 4,557 | 16 |
| Dubai Harbour | 3,414 | 23 |
| Jumeirah | 2,435 | 18 |
| Zabeel | 2,274 | 27 |
| Downtown Dubai | 1,936 | 158 |
| City Walk | 1,864 | 22 |
| Palm Jumeirah | 1,848 | 104 |
| Bur Dubai | 1,834 | 46 |
| Dubai Creek Harbour (The Lagoons) | 1,831 | 87 |
| Dubai Hills Estate | 1,721 | 98 |
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 April 2023
The 15 buildings with the most sales registered in April, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Elvira 2Dubai Hills Estate | 265 | all | 2,123 |
| 2 | Binghatti CornerJumeirah Village Circle | 161 | all | 849 |
| 3 | IbizaDamac Lagoons | 157 | 0 | 1,433 |
| 4 | Elitz 2 By DanubeJumeirah Village Circle | 154 | all | 1,377 |
| 5 | Elitz by Danube Building 1Jumeirah Village Circle | 152 | all | 1,362 |
| 6 | Peninsula FourBusiness Bay | 117 | all | 2,402 |
| 7 | EloraThe Valley | 78 | all | 1,109 |
| 8 | Address The BayDubai Harbour | 76 | all | 3,675 |
| 9 | Elvira 1Dubai Hills Estate | 70 | all | 2,036 |
| 10 | Binghatti CrescentJumeirah Village Circle | 67 | all | 1,010 |
| 11 | Bluewaters Bay Building 1Bluewaters | 64 | all | 3,841 |
| 12 | ErinCity Walk | 63 | all | 2,478 |
| 13 | Golf Views Seven CityJumeirah Lake Towers | 63 | all | 1,120 |
| 14 | The RegentTown Square | 56 | all | 1,090 |
| 15 | Binghatti NovaJumeirah Village Circle | 53 | all | 947 |
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 April 2023
The dearest was an AED 137M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,655 sq ft at AED 11,785 a square foot, registered on 10 April.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 10 Apr 2023 | Bulgari LighthouseJumeirah | 5 B/R | 11,655 | AED 137M | 11,785 | Off-plan |
| 10 Apr 2023 | Bulgari LighthouseJumeirah | 5 B/R | 11,657 | AED 130M | 11,152 | Off-plan |
| 24 Apr 2023 | Six Senses ResidencesPalm Jumeirah | 4 B/R | 10,769 | AED 58M | 5,423 | Off-plan |
| 11 Apr 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 8,325 | AED 58M | 6,931 | Off-plan |
| 7 Apr 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 8,269 | AED 51M | 6,213 | Off-plan |
| 17 Apr 2023 | One at Palm JumeirahPalm Jumeirah | 4 B/R | 5,737 | AED 50M | 8,628 | Completed |
| 11 Apr 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 6,589 | AED 47M | 7,209 | Off-plan |
| 20 Apr 2023 | Bluewaters Bay Building 2Bluewaters | 5 B/R | 6,908 | AED 42M | 6,143 | Off-plan |
| 17 Apr 2023 | Jumeirah Second | 4 B/R | 3,792 | AED 37M | 9,677 | Off-plan |
| 11 Apr 2023 | Orla by OmniyatPalm Jumeirah | 3 B/R | 5,652 | AED 36M | 6,425 | 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 April 2023, answered
How many properties were sold in Dubai in April 2023?
6,937 residential sales were registered at the Dubai Land Department in April 2023, worth AED 15.7bn: 3,694 off-plan and 3,243 completed homes. That is 19% more than in April 2022, when 5,834 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 April 2023?
The dearest apartment or villa registered was an AED 137M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,655 sq ft at AED 11,785 a square foot, registered on 10 April. Next came AED 130M at Bulgari Lighthouse, Jumeirah, and AED 58M at Six Senses 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 April 2023?
Jumeirah Village Circle, with 1,066 registered sales, 868 of them off-plan; then Dubai Hills Estate (514) and Business Bay (446). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 4,557 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.