For investors
How to tell whether a Dubai asking price is fair
Dubai registers every property transaction with the Land Department. That means for almost any building, there is a public record of what units in it have actually sold for, and an asking price can be checked against it rather than argued about.
The comparison that matters is price per square foot, not the headline price, because it lets you compare a 1,200 square foot unit against a 1,600 square foot one honestly.
Ask three questions of any asking price. What have comparable units in this building registered at recently. How does that compare to the wider area. And how many sales is that based on, because a comparison built on a handful of transactions is a hint rather than an answer.
A price above the record is not automatically wrong. A higher floor, a better view, a full renovation or a vacant unit ready to move into can all justify a premium. What the record gives you is the size of the premium you are being asked to pay, which is the thing you can then decide about.
Common questions
- Is Dubai property transaction data public?
- Yes. Sales are registered with the Dubai Land Department and the transaction record is published as open data. Personal details of buyers and sellers are not included.
- What if the asking price is above the registered record?
- It may still be reasonable. Floor, view, condition and whether the unit is vacant all carry real premiums. The record tells you how large the premium is so you can judge it.
- How current is the data?
- It reflects registrations, so there is a short lag between a deal being agreed and appearing. Anything presented as current should tell you the date it runs to.
Now do it with real numbers.
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