Dubai property prices › Month by month › August 2024
The Dubai property market in August 2024
In August 2024 the Dubai Land Department registered 14,418 residential sales worth AED 34.7bn — 40% more than in August 2023, when it registered 10,327, and 40% more by value. Most were homes not yet built: 10,132 off-plan against 4,286 completed. A completed home changed hands at a median AED 1.40M, AED 1,225 a square foot — 10% more a foot than in August 2023.
The month in its year
August 2024 against the twelve months before it
14,418 sales in August 2024, against 10,327 in August 2023. Off-plan was 70% of the month, against 62% a year earlier.
Completed homes
What a completed home sold for in August 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 | 735 | AED 499K | 1,178 |
| 1 B/R | 1,322 | AED 893K | 1,146 |
| 2 B/R | 950 | AED 1.74M | 1,275 |
| 3 B/R | 437 | AED 2.83M | 1,380 |
| 4 B/R | 127 | AED 3.63M | 1,336 |
| 5 B/R | 11 | AED 13M | 1,919 |
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 August to 30 August. The busiest was 5 August: 893 sales, AED 1.6bn.
- Off-plan
- 10,132 sales at a median AED 1,625 a square foot — its own line, never blended into the completed-home medians.
- Villas
- 2,219 of the 14,418, as the register files them. A house sold with its plot is filed as land and is not counted here.
- Payment plans
- 956 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 August, 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 | 1,390 | 1,126 | 1,122 |
| The Valley | 908 | 886 | 1,241 |
| Dubai South (Dubai World Central) | 766 | 656 | 861 |
| Bukadra | 697 | 695 | 2,792 |
| Business Bay | 573 | 351 | 1,744 |
| Mina Rashid | 509 | 509 | — |
| Dubai Land Residence Complex | 502 | 426 | 760 |
| Dubai Marina | 496 | 290 | 1,521 |
| Jumeirah Lake Towers | 470 | 337 | 1,331 |
| Arjan | 447 | 346 | 1,043 |
| Dubai Creek Harbour (The Lagoons) | 434 | 348 | 2,143 |
| Downtown Dubai | 434 | 233 | 2,423 |
| Mohammed Bin Rashid City | 385 | 242 | 1,914 |
| Meydan | 377 | 210 | 1,683 |
| Dubai Sports City | 369 | 234 | 817 |
| Dearest community | AED/sqft | Resales |
|---|---|---|
| Dubai Harbour | 3,591 | 17 |
| Zabeel | 2,731 | 26 |
| Downtown Dubai | 2,423 | 201 |
| Dubai Creek Harbour (The Lagoons) | 2,143 | 86 |
| Palm Jumeirah | 2,135 | 56 |
| Dubai Hills Estate | 2,114 | 70 |
| City Walk | 2,106 | 12 |
| Bur Dubai | 1,986 | 14 |
| Mohammed Bin Rashid City | 1,914 | 143 |
| Wadi Al Safa 2 | 1,791 | 13 |
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 August 2024
The 15 buildings with the most sales registered in August, each linking its own recorded history.
| Building | Sales | Off-plan | AED/sqft | |
|---|---|---|---|---|
| 1 | VeneraThe Valley | 415 | all | 1,125 |
| 2 | Velora 1The Valley | 370 | all | 1,209 |
| 3 | Greenway 2Dubai South (Dubai World Central) | 250 | all | 1,303 |
| 4 | Palace Residences Creek Blue Tower 1Dubai Creek Harbour (The Lagoons) | 247 | all | 2,757 |
| 5 | Samana Ivy Gardens 2Dubai Land Residence Complex | 219 | all | 1,433 |
| 6 | 350 Riverside CrescentBukadra | 200 | all | 2,345 |
| 7 | 340 Riverside CrescentBukadra | 193 | all | 2,360 |
| 8 | Aba Lux LivingDubai Marina | 186 | all | 2,012 |
| 9 | 320 Riverside CrescentBukadra | 173 | all | 2,400 |
| 10 | Marina Views Tower 2Mina Rashid | 165 | all | 3,122 |
| 11 | Cove Living Residence by ImtiazDubai Land Residence Complex | 163 | all | 1,293 |
| 12 | Verve City Walk Tower ACity Walk | 154 | all | 3,053 |
| 13 | Azizi MirageDubai Studio City | 152 | all | 1,386 |
| 14 | Verve City Walk Tower BCity Walk | 148 | all | 2,961 |
| 15 | Golf LaneDubai South (Dubai World Central) | 142 | all | 1,122 |
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 August.
The record sales
The dearest homes registered in August 2024
The dearest was an AED 139M completed five-bedroom home at Dorchester Collection Dubai, Business Bay — 16,594 sq ft at AED 8,376 a square foot, registered on 13 August.
| Registered | Home | Layout | Sq ft | Price | AED/sqft | Sold |
|---|---|---|---|---|---|---|
| 13 Aug 2024 | Dorchester Collection DubaiBusiness Bay | 5 B/R | 16,594 | AED 139M | 8,376 | Completed |
| 27 Aug 2024 | Amali IslandThe World Islands | 5 B/R | 39,667 | AED 71M | 1,777 | Off-plan |
| 26 Aug 2024 | BV Residences 1Jumeirah Bay Island | 4 B/R | 9,172 | AED 70M | 7,632 | Completed |
| 14 Aug 2024 | Casa CanalAl Wasl | 5 B/R | 9,313 | AED 59M | 6,281 | Off-plan |
| 1 Aug 2024 | Bluewaters Residences Building 9Bluewaters | 5 B/R | 9,405 | AED 50M | 5,316 | Completed |
| 7 Aug 2024 | Palm Jumeirah | 4 B/R | 6,416 | AED 49M | 7,625 | Off-plan |
| 28 Aug 2024 | Amali IslandThe World Islands | 5 B/R | 26,669 | AED 45M | 1,687 | Off-plan |
| 28 Aug 2024 | Rixos Financial Center Road Dubai ResidencesDowntown Dubai | 5 B/R | 10,586 | AED 43M | 4,062 | Off-plan |
| 20 Aug 2024 | The Vela Dorchester CollectionBusiness Bay | 3 B/R | 6,302 | AED 43M | 6,808 | Off-plan |
| 29 Aug 2024 | Rixos Financial Center Road Dubai ResidencesDowntown Dubai | 5 B/R | 10,586 | AED 40M | 3,769 | 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 August 2024, answered
How many properties were sold in Dubai in August 2024?
14,418 residential sales were registered at the Dubai Land Department in August 2024, worth AED 34.7bn: 10,132 off-plan and 4,286 completed homes. That is 40% more than in August 2023, when 10,327 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 August 2024?
The dearest apartment or villa registered was an AED 139M completed five-bedroom home at Dorchester Collection Dubai, Business Bay — 16,594 sq ft at AED 8,376 a square foot, registered on 13 August. Next came AED 71M at Amali Island, The World Islands, and AED 70M at BV Residences 1, Jumeirah Bay Island. 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 August 2024?
Jumeirah Village Circle, with 1,390 registered sales, 1,126 of them off-plan; then The Valley (908) and Dubai South (Dubai World Central) (766). The dearest, by the median price of a square foot of completed home, was Dubai Harbour at AED 3,591 across 17 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.