Dubai Property Market Update August 2017

Since 7th August 2017 to 27th August 2017, the Dubai Land Department has transferred 2.54 billion Dirhams worth of property, which was accumulated from 635 secondary market sales across Dubai.

During the same period there were 1,281 off plan Oqood registrations at the Dubai Land Department worth 1.94 billion Dirham.

There has been double the amount of off plan transactions than the secondary market; this has been the trend since the beginning of the year.

As previously mentioned there could be a few reasons for this, one could be peoples confidence in the future of Dubai Property Market post 2020, and/or investors are not wanting to commit to a 100% property purchase of a secondary market property.

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Dubai Marina – Excl The Address, Original Six, Le Reve, TFG, Cayan Tower, Marina Promenade, Silverene

60 transactions – average AED1,423 per sq ft up from AED1,402 per sq ft

Palm Jumeirah – Apartments – 15 Transactions
Golden Mile – 1 transaction average price AED1,242 per sq ft up from AED1,182 per sq ft
Marina Residence – 4 transactions – average AED1,231 per sq ft down from AED1,304 per sq ft
Shoreline – 5 transactions – average AED1,191 per sq ft down from AED1,323 per sq ft
Fairmont Residences – 1 transactions – average AED1,135 down from AED1,415 per sq ft
Palm Views – 3 transactions – average AED2,226 down from AED2,244 per sq ft

Jumeirah Beach Residence – Excl Al Bateen

15 transactions – average AED1,280 per sq ft – down from AED1,295 per sq ft per sq ft

Downtown
Residences – 1 transactions – average AED2,125 per sq ft up from AED1,945 per sq ft
Burj Views – 2 transactions – average price AED1,580 per sq ft up from AED1,573 per sq ft
29 Boulevard – 1 transaction – average price AED2,558 up from AED2,223 per sq ft
Claren Tower – 1 transaction – average AED1,703 per sq ft
Old Town
3 transactions –average price AED1,798 per sq ft down from AED1,832 per sq ft

Business Bay – Residential
19 transactions – average price AED1,764 per sq ft up from AED1,353 per sq ft

Dubai Sports City – (excluding The Matrix)
36 transactions – average price AED788 per sq ft down from AED956 per sq ft

The Greens
9 transactions – average price AED1,282 per sq ft down from AED1,293 per sq ft

The Views
11 transactions – average price AED1,469 per sq ft down from AED1,553 per sq ft

International City
67 transactions – average price AED663 per sq ft down up AED667 per sq ft

Jumeirah Lake Towers – Residential
39 transactions – average price AED1,222 per sq ft up from AED1,023 per sq ft

Jumeirah Village Triangle and Circle – Apartments
37 transactions – average price AED848 per sq ft down from AED873 per sq ft

Motor City – Apartments
12 transactions – average price AED824 per sq ft down from AED843 per sq ft

IMPZ – Apartments
20 transactions – average price AED833 down from AED893 per sq ft

Discovery Gardens
20 transactions – average price AED840 per sq ft down from AED891 per sq ft

Dubai Land
41 transactions – average price AED762 per sq ft up from AED726 per sq ft

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