Dubai property prices › Month by month › February 2024
The Dubai property market in February 2024
In February 2024 the Dubai Land Department registered 10,698 residential sales worth AED 25.1bn — 30% more than in February 2023, when it registered 8,210, and 22% more by value. Most were homes not yet built: 6,160 off-plan against 4,538 completed. A completed home changed hands at a median AED 1.53M, AED 1,228 a square foot — 11% more a foot than in February 2023.
The month in its year
February 2024 against the twelve months before it
10,698 sales in February 2024 — the most in a month since September 2023, against 8,210 in February 2023. Off-plan was 58% of the month, against 57% a year earlier.
Completed homes
What a completed home sold for in February 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.
| Layout | Sales | Median price | AED/sqft |
|---|---|---|---|
| Studio | 666 | AED 480K | 1,095 |
| 1 B/R | 1,473 | AED 940K | 1,217 |
| 2 B/R | 951 | AED 1.98M | 1,429 |
| 3 B/R | 437 | AED 2.60M | 1,309 |
| 4 B/R | 158 | AED 3.69M | 1,353 |
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 February to 29 February. The busiest was 26 February: 624 sales, AED 1.8bn.
- Off-plan
- 6,160 sales at a median AED 1,778 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 1,041 of the 10,698, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 1,194 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 February, 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 | 1,173 | 834 | 1,050 |
| Maritime City | 1,071 | 1,070 | 1,683 |
| Business Bay | 706 | 412 | 1,768 |
| Dubai Creek Harbour (The Lagoons) | 355 | 255 | 2,257 |
| Dubai Hills Estate | 352 | 133 | 2,115 |
| Al Furjan | 350 | 270 | 950 |
| Town Square | 340 | 263 | 993 |
| Jumeirah Lake Towers | 327 | 158 | 1,328 |
| Mohammed Bin Rashid City | 325 | 144 | 1,810 |
| Arjan | 320 | 228 | 1,033 |
| Downtown Dubai | 306 | 88 | 2,255 |
| Damac Hills 2 | 274 | 0 | 1,054 |
| Bukadra | 266 | 243 | 2,781 |
| Meydan | 247 | 175 | 1,562 |
| Dubai Marina | 240 | 14 | 1,642 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Bluewaters | 5,704 | 16 |
| Dubai Harbour | 3,705 | 33 |
| Umm Suqeim | 3,184 | 11 |
| Bukadra | 2,781 | 23 |
| Jumeirah | 2,666 | 11 |
| Zabeel | 2,499 | 41 |
| Dubai Creek Harbour (The Lagoons) | 2,257 | 100 |
| Downtown Dubai | 2,255 | 218 |
| City Walk | 2,130 | 27 |
| Dubai Hills Estate | 2,115 | 219 |
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 February 2024
The 15 buildings with the most sales registered in February, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | Oceanz 2Maritime City | 350 | all | 2,749 |
| 2 | Oceanz 1Maritime City | 288 | all | 2,702 |
| 3 | 330 Riverside CrescentBukadra | 243 | all | 2,290 |
| 4 | Nautica OneMaritime City | 159 | all | 2,378 |
| 5 | Park GreensDamac Hills 2 | 155 | 0 | 1,136 |
| 6 | Ayala on the ParkTown Square | 140 | all | 1,208 |
| 7 | Nautica TwoMaritime City | 135 | all | 2,472 |
| 8 | Aeon Tower 1Dubai Creek Harbour (The Lagoons) | 133 | all | 2,245 |
| 9 | Mudon Al Ranim 7Mudon | 112 | all | 1,419 |
| 10 | Mudon Al Ranim 8Mudon | 106 | all | 1,460 |
| 11 | Elitz 3 by DanubeJumeirah Village Circle | 102 | all | 1,644 |
| 12 | Nadine Residences 2Al Furjan | 92 | all | 1,041 |
| 13 | Sobha ReserveWadi Al Safa 2 | 81 | 0 | 1,716 |
| 14 | Tria By DeyaarDubai Silicon Oasis | 72 | all | 1,063 |
| 15 | Samana Barari Views 2Majan | 69 | all | 1,532 |
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 February 2024
The dearest was an AED 140M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,657 sq ft at AED 12,049 a square foot, registered on 5 February.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 5 Feb 2024 | Bulgari LighthouseJumeirah | 5 B/R | 11,657 | AED 140M | 12,049 | Off-plan |
| 15 Feb 2024 | Bulgari LighthouseJumeirah | 5 B/R | 11,655 | AED 137M | 11,785 | Off-plan |
| 22 Feb 2024 | Como ResidencesPalm Jumeirah | 5 B/R | 16,192 | AED 96M | 5,902 | Off-plan |
| 29 Feb 2024 | Orla InfinityPalm Jumeirah | 4 B/R | 8,582 | AED 73M | 8,527 | Off-plan |
| 7 Feb 2024 | 118 DowntownDowntown Dubai | 6 B/R | 11,045 | AED 65M | 5,885 | Completed |
| 28 Feb 2024 | Al Jadaf | 4 B/R | 8,850 | AED 50M | 5,650 | Off-plan |
| 14 Feb 2024 | Palm Jumeirah | 3 B/R | 5,392 | AED 43M | 7,906 | Off-plan |
| 29 Feb 2024 | Atlantis The Royal ResidencesPalm Jumeirah | 4 B/R | 4,313 | AED 42M | 9,621 | Completed |
| 26 Feb 2024 | LucePalm Jumeirah | 4 B/R | 8,298 | AED 40M | 4,820 | Off-plan |
| 27 Feb 2024 | The Beachfront Villas by EllingtonMohammed Bin Rashid City | 6 B/R | 13,859 | AED 40M | 2,870 | 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 February 2024, answered
How many properties were sold in Dubai in February 2024?
10,698 residential sales were registered at the Dubai Land Department in February 2024, worth AED 25.1bn: 6,160 off-plan and 4,538 completed homes. That is 30% more than in February 2023, when 8,210 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 February 2024?
The dearest apartment or villa registered was an AED 140M off-plan five-bedroom home at Bulgari Lighthouse, Jumeirah — 11,657 sq ft at AED 12,049 a square foot, registered on 5 February. Next came AED 137M at Bulgari Lighthouse, Jumeirah, and AED 96M at Como 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 February 2024?
Jumeirah Village Circle, with 1,173 registered sales, 834 of them off-plan; then Maritime City (1,071) and Business Bay (706). The dearest, by the median price of a square foot of completed home, was Bluewaters at AED 5,704 across 16 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.