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Dubai property prices › Month by month › July 2024

The Dubai property market in July 2024

In July 2024 the Dubai Land Department registered 14,552 residential sales worth AED 34.5bn — 48% more than in July 2023, when it registered 9,844, and 14% more by value. Most were homes not yet built: 9,343 off-plan against 5,209 completed. A completed home changed hands at a median AED 1.57M, AED 1,219 a square foot — 2% more a foot than in July 2023.

Sales registered
14,552
+48% on July 2023 (9,844)
Value
AED 34.5bn
+14% on July 2023 (AED 30.3bn)
Off-plan
9,343
64% of the month · 5,209 completed
Completed homes, median
AED 1,219
per sq ft · AED 1.57M a home · +2% on July 2023

The month in its year

July 2024 against the twelve months before it

Residential sales registered, by monthOff-planResale14,552 in July 2024
9,844
14,552
J2023ASONDJ2024FMAMJJ

14,552 sales in July 2024, against 9,844 in July 2023. Off-plan was 64% of the month, against 50% a year earlier.

Completed homes

What a completed home sold for in July 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
Studio716AED 495K1,134
1 B/R1,534AED 925K1,184
2 B/R1,116AED 1.60M1,226
3 B/R593AED 2.70M1,370
4 B/R198AED 3.50M1,297
5 B/R10AED 6.80M1,695

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 July to 31 July. The busiest was 16 July: 1,394 sales, AED 3.3bn.
Off-plan
9,343 sales at a median AED 1,722 a square foot — its own line, never blended into the completed-home medians.
Villas
1,690 of the 14,552, as the register files them. A house sold with its plot is filed as land and is not counted here.
Payment plans
1,239 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 July, 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 Circle1,3289911,112
Dubai Hills Estate1,1941,0632,114
Business Bay1,0477791,659
Dubai Creek Harbour (The Lagoons)7016112,181
Dubai South (Dubai World Central)545424973
Mohammed Bin Rashid City5353472,008
Damac Hills 25092021,172
Arjan5023821,114
Dubai Land Residence Complex484393766
Jumeirah Lake Towers4412701,297
Dubai Production City (IMPZ)383282823
Dubai Marina373971,540
Dubai Sports City324193837
Al Furjan317187972
Dubai Science Park3113011,167
Dearest communityAED/sqftResales
Dubai Harbour3,70128
Jumeirah2,97113
Zabeel2,58646
Downtown Dubai2,269194
City Walk2,18325
Dubai Creek Harbour (The Lagoons)2,18190
Dubai Hills Estate2,114131
Wadi Al Safa 22,06274
Palm Jumeirah2,04687
Mohammed Bin Rashid City2,008188

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 July 2024

The 15 buildings with the most sales registered in July, 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 July.

The record sales

The dearest homes registered in July 2024

The dearest was an AED 103M off-plan six-bedroom home at Eome Residences, Palm Jumeirah — 17,643 sq ft at AED 5,810 a square foot, registered on 8 July.

RegisteredHomeLayoutSq ftPriceAED/sqftSold
8 Jul 2024Eome ResidencesPalm Jumeirah6 B/R17,643AED 103M5,810Off-plan
1 Jul 2024Orla InfinityPalm Jumeirah4 B/R7,937AED 77M9,659Off-plan
1 Jul 2024Orla InfinityPalm Jumeirah4 B/R7,680AED 76M9,864Off-plan
18 Jul 2024World Islands6 B/R25,818AED 61M2,363Off-plan
19 Jul 2024Baccarat Residence T1Downtown Dubai4 B/R5,248AED 51M9,637Off-plan
23 Jul 2024Royal Residences Jumeirah Zabeel SarayPalm Jumeirah5 B/R4,443AED 45M10,129Completed
22 Jul 2024Palm Jumeirah5 B/R12,306AED 45M3,657Completed
29 Jul 2024Ocean HousePalm Jumeirah3 B/R8,296AED 44M5,246Off-plan
4 Jul 2024Baccarat Residence T1Downtown Dubai4 B/R5,247AED 43M8,283Off-plan
4 Jul 2024Baccarat Residence T1Downtown Dubai4 B/R5,247AED 42M8,068Off-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 July 2024, answered

How many properties were sold in Dubai in July 2024?

14,552 residential sales were registered at the Dubai Land Department in July 2024, worth AED 34.5bn: 9,343 off-plan and 5,209 completed homes. That is 48% more than in July 2023, when 9,844 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 July 2024?

The dearest apartment or villa registered was an AED 103M off-plan six-bedroom home at Eome Residences, Palm Jumeirah — 17,643 sq ft at AED 5,810 a square foot, registered on 8 July. Next came AED 77M at Orla Infinity, Palm Jumeirah, and AED 76M 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 July 2024?

Jumeirah Village Circle, with 1,328 registered sales, 991 of them off-plan; then Dubai Hills Estate (1,194) and Business Bay (1,047). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,701 across 28 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 Jul 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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