Dubai property prices › Month by month › June 2023
The Dubai property market in June 2023
In June 2023 the Dubai Land Department registered 9,105 residential sales worth AED 22.2bn — 24% more than in June 2022, when it registered 7,350, and 37% more by value. Most were homes not yet built: 4,955 off-plan against 4,150 completed. A completed home changed hands at a median AED 1.50M, AED 1,131 a square foot — 8% more a foot than in June 2022.
The month in its year
June 2023 against the twelve months before it
9,105 sales in June 2023, against 7,350 in June 2022. Off-plan was 54% of the month, against 43% a year earlier.
Completed homes
What a completed home sold for in June 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 | 587 | AED 420K | 913 |
| 1 B/R | 1,259 | AED 860K | 1,100 |
| 2 B/R | 951 | AED 1.92M | 1,331 |
| 3 B/R | 502 | AED 2.85M | 1,369 |
| 4 B/R | 148 | AED 3.33M | 1,241 |
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, 1 June to 28 June. The busiest was 12 June: 776 sales, AED 2.2bn.
- Off-plan
- 4,955 sales at a median AED 1,800 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 935 of the 9,105, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,023 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 June, 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 | 756 | 469 | 972 |
| Jumeirah Lake Towers | 550 | 422 | 1,008 |
| Dubai Harbour | 543 | 519 | 3,537 |
| Dubai Hills Estate | 532 | 426 | 1,705 |
| Dubai Creek Harbour (The Lagoons) | 480 | 323 | 1,896 |
| Mohammed Bin Rashid City | 423 | 213 | 1,605 |
| Business Bay | 405 | 181 | 1,523 |
| Downtown Dubai | 404 | 118 | 2,195 |
| Arjan | 368 | 309 | 937 |
| Dubai Marina | 331 | 54 | 1,373 |
| Meydan | 323 | 281 | 1,459 |
| Town Square | 313 | 266 | 889 |
| International City | 252 | 78 | 485 |
| Umm Suqeim | 218 | 213 | 2,814 |
| Dubai Land Residence Complex | 171 | 112 | 650 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Dubai Harbour | 3,537 | 24 |
| Jumeirah | 2,830 | 21 |
| Zabeel | 2,289 | 47 |
| Downtown Dubai | 2,195 | 286 |
| Dubai Creek Harbour (The Lagoons) | 1,896 | 157 |
| Palm Jumeirah | 1,753 | 100 |
| Tilal Al Ghaf | 1,708 | 11 |
| Dubai Hills Estate | 1,705 | 106 |
| Bur Dubai | 1,621 | 14 |
| Mohammed Bin Rashid City | 1,605 | 210 |
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 June 2023
The 15 buildings with the most sales registered in June, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Viewz 1 by DanubeJumeirah Lake Towers | 184 | all | 2,127 |
| 2 | Creek WatersDubai Creek Harbour (The Lagoons) | 178 | all | 2,277 |
| 3 | Damac Bay Tower CDubai Harbour | 175 | all | 4,060 |
| 4 | Viewz 2 by DanubeJumeirah Lake Towers | 175 | all | 2,161 |
| 5 | Elano by Oro24Arjan | 152 | all | 1,437 |
| 6 | Golf GrandDubai Hills Estate | 148 | all | 2,061 |
| 7 | Damac Bay Tower BDubai Harbour | 120 | all | 3,890 |
| 8 | Holland GardensTown Square | 117 | all | 1,051 |
| 9 | Azizi Riviera 14Meydan | 112 | all | 1,486 |
| 10 | Prive ResidenceDubai Hills Estate | 108 | all | 1,700 |
| 11 | Binghatti OnyxJumeirah Village Circle | 106 | all | 1,161 |
| 12 | Maha TownhousesTown Square | 100 | all | 989 |
| 13 | Design Quarter Tower ADubai Design District | 96 | all | 2,422 |
| 14 | Damac Bay Tower ADubai Harbour | 77 | all | 3,700 |
| 15 | Opal GardensMohammed Bin Rashid City | 75 | 3 | — |
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 June 2023
The dearest was an AED 112M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,655 sq ft at AED 9,610 a square foot, registered on 15 June.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 15 Jun 2023 | Bulgari LighthouseJumeirah | 5 B/R | 11,655 | AED 112M | 9,610 | Off-plan |
| 22 Jun 2023 | Six Senses ResidencesPalm Jumeirah | 5 B/R | 26,514 | AED 100M | 3,772 | Off-plan |
| 14 Jun 2023 | Six Senses ResidencesPalm Jumeirah | 5 B/R | 26,514 | AED 86M | 3,225 | Off-plan |
| 13 Jun 2023 | Bluewaters Residences Building 7Bluewaters | 5 B/R | 9,412 | AED 80M | 8,500 | Completed |
| 26 Jun 2023 | Como ResidencesPalm Jumeirah | 4 B/R | 11,436 | AED 66M | 5,748 | Off-plan |
| 15 Jun 2023 | Como ResidencesPalm Jumeirah | 4 B/R | 11,263 | AED 65M | 5,748 | Off-plan |
| 22 Jun 2023 | IL PrimoDowntown Dubai | 5 B/R | 11,407 | AED 60M | 5,260 | Off-plan |
| 26 Jun 2023 | Como ResidencesPalm Jumeirah | 4 B/R | 10,360 | AED 59M | 5,728 | Off-plan |
| 15 Jun 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 6,766 | AED 59M | 8,750 | Off-plan |
| 1 Jun 2023 | AVA at Palm Jumeirah By OmniyatPalm Jumeirah | 4 B/R | 7,320 | AED 57M | 7,787 | 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 June 2023, answered
How many properties were sold in Dubai in June 2023?
9,105 residential sales were registered at the Dubai Land Department in June 2023, worth AED 22.2bn: 4,955 off-plan and 4,150 completed homes. That is 24% more than in June 2022, when 7,350 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 June 2023?
The dearest apartment or villa registered was an AED 112M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,655 sq ft at AED 9,610 a square foot, registered on 15 June. Next came AED 100M at Six Senses Residences, Palm Jumeirah, and AED 86M 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 June 2023?
Jumeirah Village Circle, with 756 registered sales, 469 of them off-plan; then Jumeirah Lake Towers (550) and Dubai Harbour (543). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,537 across 24 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.