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Dubai property prices › Month by month › November 2023

The Dubai property market in November 2023

In November 2023 the Dubai Land Department registered 9,777 residential sales worth AED 25.4bn — 1% more than in November 2022, when it registered 9,640, and 8% more by value. Most were homes not yet built: 5,472 off-plan against 4,305 completed. A completed home changed hands at a median AED 1.45M, AED 1,156 a square foot — 5% more a foot than in November 2022.

Sales registered
9,777
+1% on November 2022 (9,640)
Value
AED 25.4bn
+8% on November 2022 (AED 23.6bn)
Off-plan
5,472
56% of the month · 4,305 completed
Completed homes, median
AED 1,156
per sq ft · AED 1.45M a home · +5% on November 2022

The month in its year

November 2023 against the twelve months before it

Residential sales registered, by monthOff-planResale9,777 in November 2023
9,640
9,777
NDJ2023FMAMJJASON

9,777 sales in November 2023 — the fewest in a month since June 2023, against 9,640 in November 2022. Off-plan was 56% of the month, against 55% a year earlier.

Completed homes

What a completed home sold for in November 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
Studio624AED 460K1,000
1 B/R1,320AED 900K1,165
2 B/R977AED 1.80M1,292
3 B/R527AED 2.70M1,261
4 B/R130AED 3.48M1,295
5 B/R11AED 4.33M1,318

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 November to 30 November. The busiest was 27 November: 573 sales, AED 1.4bn.
Off-plan
5,472 sales at a median AED 1,662 a square foot — its own line, never blended into the completed-home medians.
Villas
1,638 of the 9,777, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,021 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 November, 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 Circle1,192860973
Business Bay7594761,647
Downtown Dubai6163552,073
Dubai Hills Estate4222641,984
Mohammed Bin Rashid City3752621,864
The Valley321315882
Dubai South (Dubai World Central)298200939
Meydan2932501,480
Dubai Marina28691,354
Arjan263198897
Jumeirah Lake Towers2621441,126
Expo City260260—
Dubai Sports City21681766
Dubai Islands201201—
Damac Hills192831,290
Dearest communityAED/sqftResales
Bluewaters4,91119
Dubai Harbour3,48525
Umm Suqeim2,72014
Jumeirah2,66811
Zabeel2,40224
Downtown Dubai2,073261
Dubai Creek Harbour (The Lagoons)2,063124
Palm Jumeirah2,05687
City Walk2,02918
Dubai Hills Estate1,984158

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 November 2023

The 15 buildings with the most sales registered in November, 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. All 15 sold only off-plan in November.

The record sales

The dearest homes registered in November 2023

The dearest was an AED 200M off-plan six-bedroom home at Eome Residences, Palm Jumeirah — 21,824 sq ft at AED 9,164 a square foot, registered on 10 November.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
10 Nov 2023Eome ResidencesPalm Jumeirah6 B/R21,824AED 200M9,164Off-plan
13 Nov 2023Bulgari LighthouseJumeirah5 B/R11,655AED 144M12,313Off-plan
2 Nov 2023AVA at Palm Jumeirah By OmniyatPalm Jumeirah4 B/R16,164AED 113M6,960Off-plan
10 Nov 2023Eome ResidencesPalm Jumeirah6 B/R17,444AED 104M5,962Off-plan
3 Nov 2023World Islands6 B/R37,520AED 72M1,923Off-plan
30 Nov 2023Orla InfinityPalm Jumeirah4 B/R7,741AED 71M9,200Off-plan
24 Nov 2023Orla InfinityPalm Jumeirah4 B/R7,937AED 67M8,418Off-plan
30 Nov 2023World Islands6 B/R24,273AED 64M2,641Off-plan
24 Nov 2023Orla InfinityPalm Jumeirah4 B/R7,855AED 63M7,988Off-plan
28 Nov 2023BV Residences 3Jumeirah Bay Island3 B/R6,991AED 60M8,583Completed

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 November 2023, answered

How many properties were sold in Dubai in November 2023?

9,777 residential sales were registered at the Dubai Land Department in November 2023, worth AED 25.4bn: 5,472 off-plan and 4,305 completed homes. That is 1% more than in November 2022, when 9,640 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 November 2023?

The dearest apartment or villa registered was an AED 200M off-plan six-bedroom home at Eome Residences, Palm Jumeirah — 21,824 sq ft at AED 9,164 a square foot, registered on 10 November. Next came AED 144M at Bulgari Lighthouse, Jumeirah, and AED 113M at AVA at Palm Jumeirah 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 November 2023?

Jumeirah Village Circle, with 1,192 registered sales, 860 of them off-plan; then Business Bay (759) and Downtown Dubai (616). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 4,911 across 19 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 Nov 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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