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Dubai property prices › Month by month › March 2024

The Dubai property market in March 2024

In March 2024 the Dubai Land Department registered 11,774 residential sales worth AED 28.1bn — 13% more than in March 2023, when it registered 10,422, and 15% more by value. Most were homes not yet built: 7,023 off-plan against 4,751 completed. A completed home changed hands at a median AED 1.55M, AED 1,227 a square foot — 10% more a foot than in March 2023.

Sales registered
11,774
+13% on March 2023 (10,422)
Value
AED 28.1bn
+15% on March 2023 (AED 24.5bn)
Off-plan
7,023
60% of the month · 4,751 completed
Completed homes, median
AED 1,227
per sq ft · AED 1.55M a home · +10% on March 2023

The month in its year

March 2024 against the twelve months before it

Residential sales registered, by monthOff-planResale11,774 in March 2024
10,422
11,774
M2023AMJJASONDJ2024FM

11,774 sales in March 2024 — the most in a month since September 2023, against 10,422 in March 2023. Off-plan was 60% of the month, against 56% a year earlier.

Completed homes

What a completed home sold for in March 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
Studio731AED 490K1,108
1 B/R1,494AED 957K1,252
2 B/R971AED 1.97M1,364
3 B/R479AED 2.80M1,351
4 B/R145AED 3.35M1,216
5 B/R11AED 5.20M1,685

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 March to 29 March. The busiest was 4 March: 788 sales, AED 1.8bn.
Off-plan
7,023 sales at a median AED 1,609 a square foot — its own line, never blended into the completed-home medians.
Villas
1,315 of the 11,774, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,221 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 March, 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 Circle1,2298781,055
Business Bay7464351,894
Meydan6735741,504
Zabeel5154702,594
Dubai Sports City397254825
Arjan3682831,055
Mohammed Bin Rashid City3451511,841
Damac Lagoons3421951,591
Downtown Dubai3351262,279
Maritime City3223181,804
Al Furjan3002371,019
Dubai Marina286351,590
Town Square2802071,008
Mudon2692581,017
Jumeirah Lake Towers2641131,344
Dearest communityAED/sqftResales
Dubai Harbour3,73429
Bukadra2,75810
Umm Suqeim2,68610
Jumeirah2,67121
Zabeel2,59445
Downtown Dubai2,279209
Dubai Creek Harbour (The Lagoons)2,136109
Palm Jumeirah2,09770
City Walk2,08138
Dubai Hills Estate2,015128

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 March 2024

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

The dearest was an AED 140M off-plan six-bedroom home at Casa Canal, Al Wasl — 30,332 sq ft at AED 4,616 a square foot, registered on 15 March.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
15 Mar 2024Casa CanalAl Wasl6 B/R30,332AED 140M4,616Off-plan
27 Mar 2024Bulgari LighthouseJumeirah4 B/R6,475AED 70M10,811Off-plan
28 Mar 2024Como ResidencesPalm Jumeirah4 B/R9,380AED 54M5,795Off-plan
27 Mar 2024Casa CanalAl Wasl5 B/R9,529AED 50M5,247Off-plan
1 Mar 2024Orla by OmniyatPalm Jumeirah4 B/R7,109AED 48M6,761Off-plan
27 Mar 2024Casa CanalAl Wasl5 B/R9,532AED 44M4,616Off-plan
27 Mar 2024Baccarat Residence T1Downtown Dubai4 B/R5,246AED 44M8,367Off-plan
11 Mar 2024Atlantis The Royal ResidencesPalm Jumeirah4 B/R4,729AED 44M9,199Completed
18 Mar 2024Baccarat Residence T1Downtown Dubai4 B/R5,246AED 42M7,919Off-plan
1 Mar 2024Orla by OmniyatPalm Jumeirah3 B/R5,717AED 41M7,172Off-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 March 2024, answered

How many properties were sold in Dubai in March 2024?

11,774 residential sales were registered at the Dubai Land Department in March 2024, worth AED 28.1bn: 7,023 off-plan and 4,751 completed homes. That is 13% more than in March 2023, when 10,422 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 March 2024?

The dearest apartment or villa registered was an AED 140M off-plan six-bedroom home at Casa Canal, Al Wasl — 30,332 sq ft at AED 4,616 a square foot, registered on 15 March. Next came AED 70M at Bulgari Lighthouse, Jumeirah, and AED 54M 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 March 2024?

Jumeirah Village Circle, with 1,229 registered sales, 878 of them off-plan; then Business Bay (746) and Meydan (673). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,734 across 29 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 Mar 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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