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Monthly report

Dubai property market — January 2023

Every figure below comes from sale transactions registered with the Dubai Land Department and dated inside January 2023. Mortgages and gifts are excluded; the register's own record of a sale is the only source.

Sales9,604Registered in January 2023up71.2% vs a year earlier
Total valueAED 27.83BRegistered in January 2023Across 109 communities
Price per sqftAED 1,335/sqftMedian across January 2023up20.8% vs a year earlier
Sale priceAED 1.66MMedian across January 202351% sold off-plan

In a sentence

The Land Department registered 9,604 property sales in January 2023, worth AED 27.83B in total, across 109 communities. That is 71% more than the same month a year earlier.

The median sale was AED 1,658,944 at AED 1,335/sqft, 20.8% above the same month last year. 51% of sales were off-plan.

Business Bay was the busiest community with 1,021 registered sales, while Marsa Dubai took the most money at AED 2.35B.

Against the previous month, Wadi Al Safa 3 rose 273% to 295 sales, while Al Thanyah Third fell 68% to 94.

Sales by month

Price per square foot by month

Median price per sqft

Where the sales were

The fifteen communities with the most registered sales in January 2023, and how each moved against the month before.

CommunitySalesvs priorTotal valueMedian pricePrice/sqftOff-plan
Business Bay1,021+23.3%AED 1.87BAED 1.43MAED 2,087/sqft61%
Al Barsha South Fourth665+8.1%AED 622.98MAED 710KAED 1,093/sqft60%
Al Khairan First585+88.7%AED 1.61BAED 2.41MAED 2,018/sqft85%
Al Hebiah Fifth552+16.0%AED 1.80BAED 2.20MAED 1,226/sqft1%
Marsa Dubai533-32.5%AED 2.35BAED 2.20MAED 2,423/sqft38%
Al Merkadh515-46.6%AED 1.08BAED 1.38MAED 1,818/sqft83%
Burj Khalifa420+45.3%AED 1.78BAED 2.65MAED 2,525/sqft56%
Al Thanyah Fifth362+6.8%AED 1.02BAED 878KAED 1,071/sqft46%
Al Yelayiss 2357+711.4%AED 254.08MAED 596KAED 1,236/sqft87%
Hadaeq Sheikh Mohammed Bin Rashid357+76.7%AED 1.10BAED 1.88MAED 1,852/sqft65%
Palm Jumeirah301-9.6%AED 1.90BAED 3.84MAED 2,911/sqft42%
Wadi Al Safa 3295+273.4%AED 1.14BAED 3.52MAED 1,690/sqft90%
Jabal Ali First293-7.3%AED 638.10MAED 946KAED 912/sqft10%
Al Hebiah Third289+50.5%AED 371.29MAED 884KAED 1,152/sqft29%
Wadi Al Safa 5279+25.7%AED 600.91MAED 1.98MAED 895/sqft67%

Where the money went

Ranked by total registered value rather than count — a different list, and the one that shows where capital actually landed.

CommunityValueSales
Marsa DubaiAED 2.35B533
Palm JumeirahAED 1.90B301
Business BayAED 1.87B1,021
Al Hebiah FifthAED 1.80B552
Burj KhalifaAED 1.78B420
Al Khairan FirstAED 1.61B585
Wadi Al Safa 3AED 1.14B295
Hadaeq Sheikh Mohammed Bin RashidAED 1.10B357
Island 2AED 1.08B12
Al MerkadhAED 1.08B515

Biggest movers

Change in registered sales against the previous month. Limited to communities with at least 50 sales in both — below that a swing is noise.

CommunitySalesChange
Wadi Al Safa 3295+273.4%
Al Khairan First585+88.7%
Hadaeq Sheikh Mohammed Bin Rashid357+76.7%
Al Jadaf123+70.8%
Al Thanyah Third94-68.0%
Al Kifaf132+65.0%
Madinat Al Mataar69-62.9%
Nadd Hessa191+55.3%
Al Hebiah Third289+50.5%
Al Merkadh515-46.6%

The largest sales of January 2023

Each row links to its own register record, so any figure in this report can be traced to the transactions behind it.

Registered property transactions from the Dubai Land Department
DateCommunityProject / buildingTypeBedsSizePrice/sqftPrice
2 Jan 2023Marsa DubaiDAMAC BAYDubai HarbourLandExisting PropertiesNot specified116,767 sqftAED 5,336/sqftAED 623,067,617
31 Jan 2023Al WaslCASA CANALDubai Water CanalLandExisting PropertiesNot specified40,511 sqftAED 3,641/sqftAED 147,500,000
24 Jan 2023Al Safouh SecondICONICSite ALandExisting PropertiesNot specified68,547 sqftAED 2,042/sqftAED 140,000,000
6 Jan 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,655 sqftAED 11,425/sqftAED 133,150,000
6 Jan 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,655 sqftAED 10,888/sqftAED 126,900,000
17 Jan 2023Al Raffa—BuildingExisting PropertiesNot specified46,072 sqftAED 2,713/sqftAED 125,000,000
30 Jan 2023Palm Jumeirah—Palm JumeirahVillaExisting PropertiesNot specified18,844 sqftAED 6,633/sqftAED 125,000,000
26 Jan 2023Al Thanyah FifthVerde by SobhaDMCC Master CommunityLandExisting PropertiesNot specified56,593 sqftAED 2,165/sqftAED 122,500,000
12 Jan 2023Al Jadaf—Sama Al JadafBuildingExisting PropertiesNot specified24,657 sqftAED 4,867/sqftAED 120,000,000
5 Jan 2023Island 2Bulgari Lighthouse DubaiJumeira BayFlatOff-Plan Properties5 B/R11,657 sqftAED 10,209/sqftAED 119,000,000

Source: Dubai Land Department open data, retrieved from the Digital Dubai data.dubai platform. Figures cover registered transactions and Ejari-registered tenancy contracts, and are statistical summaries of public record — not a valuation of any individual property. Registration data can be amended or backdated by the source after first publication.