AVERAGE HOUSE PRICE IN MAY 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 declined by 1.5% month-on-month, 0.2% less than the monthly change recorded in January 2019.
- In May 2019, the annual decline in house prices was more pronounced in communities such as Discovery Gardens, Dubai Silicon Oasis and IMPZ, where house prices declined by more than 16% on average.
- Off-plan apartment transfers were higher than those in the secondary market, as has been the case over the past 12 months. However, the total volume of residential transactions between January to May 2019 was 4% lower than the same period in 2018, whereas the volume of apartment transfers decreased by 14% over the same tenure.
There was an overall decline of 14.5% in average price annually this May, compared to a 9.2% annual decline recorded in January 2019. According to the House Price Index, the average villa/townhouse price decreased to AED 4.4 million, and the average apartment price remained stable at AED 1.7 million in May 2019 for the same selection of properties tracked since September 2015. House prices in the three months leading up to May were 4.6% lower, compared to the previous quarter.
Monthly
-1.5%
Change
Yearly
-14.5%
Change
Average Price (AED)
2,506,958
Monthly Index Figure
79.7
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 1.7 Million
Average Villa/Townhouse
AED 4.4 Million
| Month | 3 Month % Change | 6 Month % Change | Annual % Change | House Price |
|---|---|---|---|---|
| Sep-17 | 0.0% | -1.0% | -1.2% | AED 2,964,810 |
| Oct-17 | 0.0% | -1.0% | -1.1% | AED 2,958,197 |
| Nov-17 | 0.0% | -1.0% | -1.4% | AED 2,954,322 |
| Dec-17 | -1.0% | -1.0% | -1.7% | AED 2,946,530 |
| Jan-18 | 0.0% | -1.0% | -1.6% | AED 2,946,360 |
| Feb-18 | 0.0% | -1.0% | -1.7% | AED 2,940,607 |
| Mar-18 | 0.0% | -1.0% | -1.7% | AED 2,935,605 |
| Apr-18 | 0.0% | -1.0% | -1.7% | AED 2,932,711 |
| May-18 | 0.0% | -1.0% | -1.5% | AED 2,932,714 |
| Jun-18 | -1.0% | -1.0% | -2.0% | AED 2,911,581 |
| Jul-18 | -1.0% | -2.0% | -2.5% | AED 2,894,723 |
| Aug-18 | -2.0% | -2.0% | -2.9% | AED 2,881,142 |
| Sep-18 | -3.0% | -4.0% | -4.6% | AED 2,827,566 |
| Oct-18 | -3.5% | -4.7% | -5.5% | AED 2,793,975 |
| Nov-18 | -4.4% | -6.1% | -6.8% | AED 2,753,717 |
| Dec-18 | -3.7% | -6.5% | -7.6% | AED 2,722,725 |
| Jan-19 | -4.2% | -7.5% | -9.2% | AED 2,676,234 |
| Feb-19 | -4.5% | -8.8% | -10.6% | AED 2,628,701 |
| Mar-19 | -5.1% | -8.6% | -12.0% | AED 2,584,278 |
| Apr-19 | -4.9% | -8.9% | -13.2% | AED 2,544,747 |
| May-19 | -4.6% | -9.0% | -14.5% | AED 2,506,958 |
