Off-plan apartments in Dubai still cost more per square foot than ready ones, but the gap is less than half what it was. In January–September 2026 the median off-plan apartment sold for AED 1,798 per sq ft and the median ready apartment for AED 1,460, a premium of 23%. In 2023 the premium was 58%. Ready prices did most of the closing: they rose by about a quarter while off-plan barely moved.
The citywide figure hides wide differences between areas and unit sizes, and it says nothing about risk, so we cover those below. Every figure is a median of sales registered with the Dubai Land Department. None are asking prices.
How big is the off-plan premium now?
Table: median AED per sq ft for apartments, off-plan vs ready, Dubai, 2023 to September 2026. n = registered sales in our records behind each median. Source: DLD registered sales, Peak Trust Research.
| Year | Off-plan AED/sq ft | Off-plan n | Ready AED/sq ft | Ready n | Off-plan premium |
|---|---|---|---|---|---|
| 2023 | 1,822 | 78,607 | 1,152 | 57,002 | 58.2% |
| 2024 | 1,790 | 127,301 | 1,265 | 64,157 | 41.5% |
| 2025 | 1,855 | 167,081 | 1,395 | 67,093 | 33.0% |
| 2026 (Jan–Sep) | 1,798 | 98,452 | 1,460 | 35,021 | 23.2% |
The premium is plain division. In 2026, AED 1,798 divided by AED 1,460 is 1.23, so off-plan sold 23% higher per square foot. We use medians, the middle sale, so a handful of AED 50 million penthouses can't drag the figure about.
Two things narrowed the gap. Ready prices climbed from AED 1,152 to AED 1,460 per sq ft, up 26.7% in under four years. And the places where off-plan sells changed. Dubai South made up 0.7% of off-plan apartment sales in our sample in 2023 and 14.0% in 2026, at a median of AED 1,678 per sq ft. More sales in cheaper, newer districts pull the citywide off-plan median down even when no project cuts its price. Part of the narrowing is mix, then, rather than a like-for-like fall.
The n columns are the sales behind each median. Our record feed changed in early 2026, so the 2026 n isn't a market total and shouldn't be set against 2025.
Is the gap the same for every unit size?
No, but it has narrowed for all of them. Comparing by bedroom count takes out some of the size effect.
Table: median AED per sq ft for apartments by bedrooms, off-plan vs ready, 2023 and January–September 2026. n = registered sales behind each 2026 median. Source: DLD registered sales, Peak Trust Research.
| Unit | Premium 2023 | Off-plan 2026 AED/sq ft (n) | Ready 2026 AED/sq ft (n) | Premium 2026 |
|---|---|---|---|---|
| Studio | 45.6% | 1,776 (30,543) | 1,338 (7,797) | 32.7% |
| 1 bedroom | 54.8% | 1,696 (37,769) | 1,362 (13,361) | 24.5% |
| 2 bedrooms | 49.8% | 1,877 (20,785) | 1,560 (8,533) | 20.3% |
| 3 bedrooms | 50.8% | 2,284 (4,568) | 1,870 (2,313) | 22.1% |
Studios have the widest gap, and off-plan studios have shrunk: the median one sold in 2026 was 387 sq ft, against 436 sq ft for a ready studio. A smaller box nearly always costs more per foot.
Villas are harder to compare. Off-plan villas and townhouses sold at a median AED 1,797 per sq ft in 2026, 17.1% above ready ones at AED 1,535. But the median off-plan villa was 1,601 sq ft and the median ready villa 2,500 sq ft. Those are different products.
Where is the gap widest, and where has it closed?
For an actual purchase, the area view is the one to use. Each row needs at least 50 registered sales on both sides.
Table: median AED per sq ft for apartments, off-plan vs ready, by area, January–September 2026, with the 2023 premium for comparison. n = registered sales behind each median. Source: DLD registered sales, Peak Trust Research.
| Area | Off-plan AED/sq ft (n) | Ready AED/sq ft (n) | Premium 2026 | Premium 2023 |
|---|---|---|---|---|
| Dubai Hills Estate | 2,431 (1,261) | 2,310 (842) | 5.2% | 7.2% |
| Dubai Creek Harbour | 2,618 (2,660) | 2,352 (1,138) | 11.3% | 7.9% |
| Jumeirah Village Circle | 1,559 (6,097) | 1,306 (3,833) | 19.4% | 28.3% |
| Arjan | 1,705 (2,231) | 1,339 (1,284) | 27.3% | 48.0% |
| Downtown Dubai | 3,401 (534) | 2,569 (1,727) | 32.4% | 36.2% |
| Business Bay | 2,939 (3,388) | 1,962 (3,050) | 49.8% | 43.6% |
| Dubai South | 1,678 (13,741) | 1,100 (752) | 52.5% | 112.7% |
| Jumeirah Lake Towers | 2,442 (1,462) | 1,543 (1,492) | 58.3% | 96.7% |
| Dubai Marina | 4,213 (622) | 2,068 (2,049) | 103.7% | 162.1% |
| Palm Jumeirah | 5,751 (346) | 2,654 (637) | 116.7% | 105.2% |
The gap is smallest in master-planned communities that are still being built out. In Dubai Hills Estate and Dubai Creek Harbour, the ready stock is young and comes from the same master developer as the new phases, so a buyer can look at a finished building next door. Off-plan sells within about 5–11% of ready there.
In the mid-market districts the gap has roughly halved. Jumeirah Village Circle went from 28% to 19%, Arjan from 48% to 27% and Dubai South from 113% to 53%. Ready prices there rose fast from a low base.
The established waterfront districts are another matter. New towers in Dubai Marina and on Palm Jumeirah are often branded or ultra-prime, and the median off-plan Marina apartment sold this year was 1,586 sq ft against 1,110 sq ft for a ready one. Setting them against 15-year-old resale stock compares two different markets. Business Bay is the odd one out: the premium there widened, from 44% to 50%.
Two busy areas have no fair comparison yet. Dubai Islands recorded 4,912 off-plan apartment sales in 2026 and no ready ones, because nothing there is finished. Dubai Maritime City had only 32 ready sales, below our threshold.
What risks come with off-plan?
The premium pays for a new unit and a payment plan. It also comes with risks a ready purchase doesn't have:
- Delivery can slip. Of the homes in projects with a register date in H1 2026, only 41% were in projects recorded as finished by early October. Schedules are lengthening too: projects registered in 2026 filed completion dates a median 2.6 years out, against 2.0 years for 2024 registrations. A late handover pushes back any rent, and can push back a mortgage too. Our handover pipeline guide has the detail.
- Finance is capped. The Central Bank limits off-plan lending to 50% for every buyer, so at least half the price is your own money, paid to the developer in stages before the home earns anything.
- Default terms are strict. Under Dubai's off-plan law, if a buyer stops paying on a project more than 60% complete, the developer can end the contract and keep up to 40% of the unit's contract value; below 60% complete, up to 25% (Law No. 19 of 2020). That is a share of the price, not of what you have paid.
- An early resale depends on others. Selling before handover depends on the developer's resale rules, and on a buyer choosing your unit over a new launch nearby with a fresh payment plan.
- Supply arrives in waves. A district with many units due at once can see rents and resale prices pressed down around the handover peak.
What risks come with ready?
A ready purchase has its own costs and exposures:
- More cash goes in up front. A ready home is paid for in full at transfer, plus the 4% transfer fee. On the other hand, an expatriate buying a first home up to AED 5 million can borrow up to 80%.
- Costs start on day one. Service charges, maintenance and any empty months begin straight away. Our guide to service charges by community shows what buildings charge.
- Older buildings need work. Check the service charge and the maintenance record of the building before you buy.
- You buy after the run-up. Ready prices rose 26.7% between 2023 and 2026 on our medians. Since then they have eased: comparing each area with itself, ready prices per sq ft fell a median 5.4% between Q1 and Q3 2026, and fell in 27 of 34 areas (are Dubai prices falling?).
What it means for investors
- Compare inside one area. A citywide 23% premium tells you little when the figure in your target area could be 5% or 100%. Use the area table, and check unit sizes as well as price per foot.
- Count the cost of waiting. With off-plan, money goes in years before any rent comes out. Set the gap against what the same cash could earn in a ready unit over the build period, after service charges. Our rental yields page has gross yields by area.
- Sort out finance first. If you need a mortgage, a ready home lets you borrow more. If you're paying cash in stages, off-plan spreads the outlay.
- Check the developer's delivery record. Compare past handover dates with what was promised, and the construction stage with the payment plan, before you sign.
- Don't read the narrowing as a price signal. A smaller premium can come from ready prices rising, from off-plan sales moving to cheaper areas, or both. These figures show what registered. They don't show which way prices go next.
For an independent opinion on a specific unit, off-plan or ready, see how we work with investors. For how the 3.90% base rate changes mortgage costs, read our note on the base rate and mortgaged buyers.