Dubai property prices › Month by month › October 2023
The Dubai property market in October 2023
In October 2023 the Dubai Land Department registered 10,228 residential sales worth AED 23.1bn — 40% more than in October 2022, when it registered 7,323, and 25% more by value. Most were homes not yet built: 5,970 off-plan against 4,258 completed. A completed home changed hands at a median AED 1.40M, AED 1,153 a square foot — 16% more a foot than in October 2022.
The month in its year
October 2023 against the twelve months before it
10,228 sales in October 2023, against 7,323 in October 2022. Off-plan was 58% of the month, against 58% a year earlier.
Completed homes
What a completed home sold for in October 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 | 668 | AED 435K | 947 |
| 1 B/R | 1,270 | AED 850K | 1,110 |
| 2 B/R | 928 | AED 1.72M | 1,225 |
| 3 B/R | 460 | AED 2.78M | 1,295 |
| 4 B/R | 135 | AED 3.38M | 1,336 |
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, 2 October to 31 October. The busiest was 23 October: 807 sales, AED 1.5bn.
- Off-plan
- 5,970 sales at a median AED 1,710 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 992 of the 10,228, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,108 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 October, 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 | 1,372 | 1,021 | 976 |
| Meydan | 951 | 881 | 1,649 |
| Mohammed Bin Rashid City | 846 | 705 | 1,825 |
| Business Bay | 581 | 319 | 1,478 |
| Dubai Hills Estate | 490 | 386 | 1,848 |
| Downtown Dubai | 422 | 181 | 2,210 |
| Dubai Harbour | 392 | 375 | 3,314 |
| Jumeirah Lake Towers | 289 | 172 | 1,103 |
| Arjan | 247 | 154 | 899 |
| Dubai Marina | 230 | 12 | 1,470 |
| Mina Rashid | 220 | 220 | — |
| Damac Lagoons | 207 | 0 | 1,751 |
| Dubai Sports City | 199 | 55 | 790 |
| Damac Hills 2 | 194 | 0 | 1,080 |
| Al Furjan | 176 | 89 | 952 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Dubai Harbour | 3,314 | 17 |
| Umm Suqeim | 2,574 | 16 |
| Zabeel | 2,370 | 30 |
| Downtown Dubai | 2,210 | 241 |
| Dubai Creek Harbour (The Lagoons) | 2,047 | 112 |
| City Walk | 2,040 | 15 |
| Palm Jumeirah | 1,988 | 80 |
| Dubai Hills Estate | 1,848 | 104 |
| Mohammed Bin Rashid City | 1,825 | 141 |
| Bur Dubai | 1,815 | 18 |
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 October 2023
The 15 buildings with the most sales registered in October, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Binghatti AmberJumeirah Village Circle | 218 | all | 1,091 |
| 2 | Sobha Creek Vista Heights Tower AMohammed Bin Rashid City | 214 | all | 2,076 |
| 3 | Sobha Creek Vista Heights Tower BMohammed Bin Rashid City | 206 | all | 1,928 |
| 4 | Greenside Residence Tower ADubai Hills Estate | 138 | all | 2,296 |
| 5 | Elitz 2 by Danube Tower 2Jumeirah Village Circle | 134 | all | 1,611 |
| 6 | Elitz 2 by Danube Tower 1Jumeirah Village Circle | 133 | all | 1,665 |
| 7 | NimaThe Valley | 132 | all | 1,122 |
| 8 | Crest GrandeMohammed Bin Rashid City | 126 | all | 1,850 |
| 9 | MoroccoDamac Lagoons | 121 | 0 | 1,927 |
| 10 | Damac Bay 2 Tower BDubai Harbour | 115 | all | 4,205 |
| 11 | Azizi Riviera 32Meydan | 107 | all | 1,492 |
| 12 | Damac Bay 2 Tower ADubai Harbour | 102 | all | 4,124 |
| 13 | Fashionz by DanubeJumeirah Village Triangle | 99 | all | 1,832 |
| 14 | Clearpoint Building 2Mina Rashid | 95 | all | 1,880 |
| 15 | Azizi Riviera 27Meydan | 86 | all | 1,465 |
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 October 2023
The dearest was an AED 220M off-plan five-bedroom home at AVA at Palm Jumeirah By Omniyat, Palm Jumeirah — 32,160 sq ft at AED 6,841 a square foot, registered on 5 October.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 5 Oct 2023 | AVA at Palm Jumeirah By OmniyatPalm Jumeirah | 5 B/R | 32,160 | AED 220M | 6,841 | Off-plan |
| 18 Oct 2023 | Eome ResidencesPalm Jumeirah | 6 B/R | 24,229 | AED 120M | 4,953 | Off-plan |
| 24 Oct 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 8,010 | AED 64M | 7,980 | Off-plan |
| 18 Oct 2023 | Como ResidencesPalm Jumeirah | 4 B/R | 10,352 | AED 60M | 5,769 | Off-plan |
| 19 Oct 2023 | Como ResidencesPalm Jumeirah | 4 B/R | 9,409 | AED 55M | 5,795 | Off-plan |
| 23 Oct 2023 | The Crescent W ResidencesPalm Jumeirah | 4 B/R | 13,009 | AED 54M | 4,128 | Completed |
| 24 Oct 2023 | Orla by OmniyatPalm Jumeirah | 4 B/R | 6,906 | AED 53M | 7,701 | Off-plan |
| 19 Oct 2023 | Wadi Al Safa 3 | 6 B/R | 14,367 | AED 41M | 2,852 | Off-plan |
| 18 Oct 2023 | Six Senses ResidencesPalm Jumeirah | 4 B/R | 6,453 | AED 39M | 6,044 | Off-plan |
| 26 Oct 2023 | Atlantis The Royal ResidencesPalm Jumeirah | 3 B/R | 3,504 | AED 38M | 10,845 | 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 October 2023, answered
How many properties were sold in Dubai in October 2023?
10,228 residential sales were registered at the Dubai Land Department in October 2023, worth AED 23.1bn: 5,970 off-plan and 4,258 completed homes. That is 40% more than in October 2022, when 7,323 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 October 2023?
The dearest apartment or villa registered was an AED 220M off-plan five-bedroom home at AVA at Palm Jumeirah By Omniyat, Palm Jumeirah — 32,160 sq ft at AED 6,841 a square foot, registered on 5 October. Next came AED 120M at Eome Residences, Palm Jumeirah, and AED 64M 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 October 2023?
Jumeirah Village Circle, with 1,372 registered sales, 1,021 of them off-plan; then Meydan (951) and Mohammed Bin Rashid City (846). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,314 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.