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Dubai property prices › Month by month › January 2024

The Dubai property market in January 2024

In January 2024 the Dubai Land Department registered 9,964 residential sales worth AED 26.0bn — 18% more than in January 2023, when it registered 8,447, and 24% more by value. Most were homes not yet built: 5,819 off-plan against 4,145 completed. A completed home changed hands at a median AED 1.43M, AED 1,183 a square foot — 4% more a foot than in January 2023.

Sales registered
9,964
+18% on January 2023 (8,447)
Value
AED 26.0bn
+24% on January 2023 (AED 20.9bn)
Off-plan
5,819
58% of the month · 4,145 completed
Completed homes, median
AED 1,183
per sq ft · AED 1.43M a home · +4% on January 2023

The month in its year

January 2024 against the twelve months before it

Residential sales registered, by monthOff-planResale9,964 in January 2024
8,447
9,964
J2023FMAMJJASONDJ2024

9,964 sales in January 2024, against 8,447 in January 2023. Off-plan was 58% of the month, against 55% a year earlier.

Completed homes

What a completed home sold for in January 2024

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
Studio663AED 484K1,127
1 B/R1,321AED 900K1,168
2 B/R794AED 1.58M1,235
3 B/R460AED 2.71M1,340
4 B/R135AED 3.45M1,211
5 B/R11AED 17M1,774

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
23, 1 January to 31 January. The busiest was 17 January: 776 sales, AED 2.3bn.
Off-plan
5,819 sales at a median AED 1,852 a square foot — its own line, never blended into the completed-home medians.
Villas
865 of the 9,964, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,236 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 January, 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 Circle1,2679231,067
Business Bay9295562,078
Dubai Hills Estate5713302,048
Maritime City4124111,800
Arjan350275982
Jumeirah Lake Towers3492361,196
Downtown Dubai3431822,172
Mohammed Bin Rashid City3322031,857
Mina Rashid292292—
International City2509499
Damac Hills 225001,057
Dubai Marina218201,613
Dubai South (Dubai World Central)218133827
Town Square215127986
Meydan2041451,480
Dearest communityAED/sqftResales
Bluewaters5,50913
Dubai Harbour3,51616
Umm Suqeim2,63310
Zabeel2,59234
Dubai Creek Harbour (The Lagoons)2,19192
City Walk2,17618
Downtown Dubai2,172161
Business Bay2,078373
Dubai Hills Estate2,048241
Palm Jumeirah1,99665

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 January 2024

The 15 buildings with the most sales registered in January, 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 January 2024

The dearest was an AED 79M off-plan six-bedroom home in the Land Department's World Islands area — 41,067 sq ft at AED 1,924 a square foot, registered on 15 January.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
15 Jan 2024World Islands6 B/R41,067AED 79M1,924Off-plan
17 Jan 2024Orla by OmniyatPalm Jumeirah4 B/R11,749AED 79M6,720Off-plan
22 Jan 2024Orla InfinityPalm Jumeirah4 B/R8,543AED 79M9,204Off-plan
17 Jan 2024Orla by OmniyatPalm Jumeirah4 B/R10,160AED 75M7,382Off-plan
18 Jan 2024Orla InfinityPalm Jumeirah4 B/R8,391AED 73M8,700Off-plan
18 Jan 2024Orla InfinityPalm Jumeirah4 B/R8,550AED 72M8,391Off-plan
18 Jan 2024Orla InfinityPalm Jumeirah4 B/R7,680AED 70M9,168Off-plan
17 Jan 2024Orla by OmniyatPalm Jumeirah4 B/R8,188AED 69M8,379Off-plan
18 Jan 2024Orla InfinityPalm Jumeirah4 B/R7,855AED 68M8,690Off-plan
29 Jan 2024Casa CanalAl Wasl6 B/R12,651AED 68M5,335Off-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 January 2024, answered

How many properties were sold in Dubai in January 2024?

9,964 residential sales were registered at the Dubai Land Department in January 2024, worth AED 26.0bn: 5,819 off-plan and 4,145 completed homes. That is 18% more than in January 2023, when 8,447 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 January 2024?

The dearest apartment or villa registered was an AED 79M off-plan six-bedroom home in the Land Department's World Islands area — 41,067 sq ft at AED 1,924 a square foot, registered on 15 January. Next came AED 79M at Orla by Omniyat, Palm Jumeirah, and AED 79M at Orla Infinity, 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 January 2024?

Jumeirah Village Circle, with 1,267 registered sales, 923 of them off-plan; then Business Bay (929) and Dubai Hills Estate (571). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 5,509 across 13 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 31 Jan 2024.

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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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