January 2019


House prices declined by 9.2% annually in January 2019.


The Dubai House Price Index from Property Monitor tracks the prices of a selection of apartment and villa/townhouse properties from September 2015.

  • Prices decline by 1.7% month-on-month - a fall of 0.6% compared to the monthly change in December 2018.
  • In January 2019, the annual decline in house prices was more pronounced in communities such as Arabian Ranches, Emirates Living, IMPZ and Dubai Sports City, where house prices declined by more than 10% on average.
  • Off-plan apartment transfers continued to dominate in January 2019, as has been the case over the past 12 months. However, the volume of transfers was lower than in January 2018. Since the beginning of 2019, transfers of apartments and villas/townhouses decreased by 42% compared to the same period last year.

The annual change in prices registered a decline of 9.2% in January, compared to a 7.6% decline in December 2018. According to the House Price Index, the average villa/townhouse price was AED 4.7 million, and the average apartment price was AED 1.8 million in January 2019 for the same selection of properties tracked since September 2015. House prices in the three months leading up to January were 4.2% lower than the previous quarter.







Average Price (AED)


Monthly Index Figure


September 2015 = 100

Methodology used is a simple moving weighted average for a selected basket of properties. For more information click the icon.

Average Apartment

AED 1.8 Million

Average Villa/Townhouse

AED 4.7 Million

Month 3 Month % Change 6 Month % Change Annual % Change House Price
Sep-17 0.0% -1.0% -1.2% AED 2,991,491
Oct-17 0.0% -1.0% -1.1% AED 2,984,798
Nov-17 0.0% -1.0% -1.4% AED 2,980,915
Dec-17 -1.0% -1.0% -1.7% AED 2,973,084
Jan-18 0.0% -1.0% -1.6% AED 2,972,944
Feb-18 0.0% -1.0% -1.7% AED 2,967,110
Mar-18 0.0% -1.0% -1.7% AED 2,962,076
Apr-18 0.0% -1.0% -1.7% AED 2,959,127
May-18 0.0% -1.0% -1.5% AED 2,959,130
Jun-18 -1.0% -1.0% -2.0% AED 2,937,765
Jul-18 -1.0% -2.0% -2.5% AED 2,920,737
Aug-18 -2.0% -2.0% -2.9% AED 2,907,065
Sep-18 -3.0% -4.0% -4.6% AED 2,852,541
Oct-18 -3.5% -4.7% -5.6% AED 2,818,543
Nov-18 -4.4% -6.1% -6.8% AED 2,778,068
Dec-18 -3.7% -6.5% -7.6% AED 2,746,834
Jan-19 -4.2% -7.6% -9.2% AED 2,699,945

Dubai House Price (AED)

The Dubai House Price Index tracks residential sales prices for the same selection of properties from September 2015 to date. As of January 2019, apartment and villa/townhouse prices have declined by 15% and 16% respectively, compared to their prices of AED 2.1 million and AED 5.6 million in September 2015.

AVERAGE Price Change (%) In Key Communities

Interactive map - click to begin

Use ctrl + scroll to zoom the map
5.0 to 4.0 4.0 to 3.0 3.0 to 2.0 2.0 to 1.0 1.0 to 0.0 0.0 to -1.0 -1.0 to -2.0 -2.0 to -3.0 -3.0 to -4.0 -4.0 to -5.0 -5.0 or below



Indices and average prices are produced using Cavendish Maxwell and Property Monitor’s weighted average House Price Methodology, which includes a basket of properties covering studio to three bedroom apartments and three to six bedroom villas across more than 20 master developments in Dubai. The data is drawn from a variety of sources including property transfers, MoUs and valuations and is based on the Property Monitor Index, a monthly data series starting from September 2015 for representative buildings within each community. Figures are currently calculated on the same basket of properties each month, which may vary in future, resulting in revisions to historical data.


The information and analysis contained in this report has been obtained from or is based on information from a variety of sources generally regarded to be reliable and assumptions which are considered reasonable, and which was current at the time of undertaking market research, but no representation is made as to their accuracy or completeness. We reserve the right to vary our methodology and to edit or discontinue the indices at any time, for regulatory or other reasons. The report and analysis does not purport to represent a formal valuation of any property interest and must not be construed as such. Such analysis including forward looking statements are opinions and estimates only and are based on a wide range of variables which may not be capable of being determined with accuracy. Variation in any one of these variables can have a material impact on the analysis and we draw your attention to this. Cavendish Maxwell and Property Monitor do not accept any liability in negligence or otherwise for any loss or damage suffered by any party resulting from reliance on this report.