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Dubai property prices › Month by month › September 2023

The Dubai property market in September 2023

In September 2023 the Dubai Land Department registered 11,926 residential sales worth AED 27.9bn — 58% more than in September 2022, when it registered 7,550, and 70% more by value. Most were homes not yet built: 7,585 off-plan against 4,341 completed. A completed home changed hands at a median AED 1.45M, AED 1,140 a square foot — 16% more a foot than in September 2022.

Sales registered
11,926
+58% on September 2022 (7,550)
Value
AED 27.9bn
+70% on September 2022 (AED 16.4bn)
Off-plan
7,585
64% of the month · 4,341 completed
Completed homes, median
AED 1,140
per sq ft · AED 1.45M a home · +16% on September 2022

The month in its year

September 2023 against the twelve months before it

Residential sales registered, by monthOff-planResale11,926 in September 2023
7,550
11,926
S2022ONDJ2023FMAMJJAS

11,926 sales in September 2023 — more than any month since January 2009, against 7,550 in September 2022. Off-plan was 64% of the month, against 57% a year earlier.

Completed homes

What a completed home sold for in September 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.

LayoutSalesMedian priceAED/sqft
Studio617AED 425K939
1 B/R1,276AED 822K1,040
2 B/R853AED 1.65M1,187
3 B/R454AED 2.50M1,236
4 B/R129AED 3.40M1,311
5 B/R10AED 5.75M1,313

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
21, 1 September to 29 September. The busiest was 11 September: 2,307 sales, AED 5.8bn.
Off-plan
7,585 sales at a median AED 1,671 a square foot — its own line, never blended into the completed-home medians.
Villas
1,313 of the 11,926, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,303 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 September, 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 communitySalesOff-planCompleted AED/sqft
Jumeirah Village Circle1,5101,147919
Mohammed Bin Rashid City1,2361,0861,816
Business Bay9086841,593
Arjan772685875
Meydan4964231,488
Dubai Hills Estate4253431,901
Jumeirah Lake Towers3862781,125
Damac Lagoons35801,795
Downtown Dubai3431102,043
Mudon3253061,011
Dubai Creek Harbour (The Lagoons)3122102,008
Dubai Marina275811,447
Town Square273213956
Dubai Harbour2662493,465
Dubai Land Residence Complex255176650
Dearest communityAED/sqftResales
Dubai Harbour3,46517
Umm Suqeim3,00716
Zabeel2,38133
Downtown Dubai2,043233
Dubai Creek Harbour (The Lagoons)2,008102
Palm Jumeirah1,98272
Dubai Hills Estate1,90182
Mohammed Bin Rashid City1,816150
Damac Lagoons1,795358
Tilal Al Ghaf1,76010

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 September 2023

The 15 buildings with the most sales registered in September, each linking its own recorded history.

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 September 2023

The dearest was an AED 286M off-plan five-bedroom home in the Land Department's Um Suqaim Third area — 19,264 sq ft at AED 14,847 a square foot, registered on 11 September.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
11 Sept 2023Um Suqaim Third5 B/R19,264AED 286M14,847Off-plan
5 Sept 2023Eome ResidencesPalm Jumeirah6 B/R24,921AED 202M8,106Off-plan
27 Sept 2023Eome ResidencesPalm Jumeirah6 B/R23,789AED 150M6,305Off-plan
11 Sept 2023Como ResidencesPalm Jumeirah7 B/R18,912AED 114M6,014Off-plan
11 Sept 2023Serenia Living Tower 1Palm Jumeirah4 B/R21,156AED 105M4,963Off-plan
11 Sept 2023Eome ResidencesPalm Jumeirah5 B/R18,949AED 95M5,014Off-plan
1 Sept 2023Eome ResidencesPalm Jumeirah5 B/R19,067AED 95M4,982Off-plan
22 Sept 2023World Islands6 B/R27,410AED 69M2,518Off-plan
11 Sept 2023Eome ResidencesPalm Jumeirah6 B/R18,773AED 65M3,462Off-plan
14 Sept 2023Eome ResidencesPalm Jumeirah6 B/R17,599AED 65M3,693Off-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 September 2023, answered

How many properties were sold in Dubai in September 2023?

11,926 residential sales were registered at the Dubai Land Department in September 2023, worth AED 27.9bn: 7,585 off-plan and 4,341 completed homes. That is 58% more than in September 2022, when 7,550 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 September 2023?

The dearest apartment or villa registered was an AED 286M off-plan five-bedroom home in the Land Department's Um Suqaim Third area — 19,264 sq ft at AED 14,847 a square foot, registered on 11 September. Next came AED 202M at Eome Residences, Palm Jumeirah, and AED 150M at Eome 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 September 2023?

Jumeirah Village Circle, with 1,510 registered sales, 1,147 of them off-plan; then Mohammed Bin Rashid City (1,236) and Business Bay (908). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,465 across 17 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.

Where these numbers come from. Every figure on this page is drawn from the Dubai Land Department’s transaction register, read directly from the Dubai Data Exchange. It is what buyers actually paid, recorded at transfer — not asking prices, not valuations, not our own estimates. Mortgage registrations, gift transfers, rent-to-own contracts and developers’ own filings are all excluded; none of them is a price a buyer paid. Medians are used rather than averages so one unusual sale cannot move the number. Data through 30 Sept 2023.

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We read this register every day. Tell us the building and the unit and we will tell you what the last comparable sold for, and what this month's sales say about yours.

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