The Dubai House Price Index from Property Monitor tracks the prices of selection of apartment and villa/townhouse properties since September 2015.
The annual change in house prices registered a decline of 6.8% in November, compared to a 5.6% decline in October 2018. According to the House Price Index, the average villa/townhouse price stood at AED 4.8 million, with the average apartment price being AED 1.9 million in November 2018 for the same selection of properties tracked since September 2015. House prices in the three months to November were 4.4% lower than the previous quarter.
Average Price (AED)
Monthly Index Figure
September 2015 = 100
|Month||3 Month % Change||6 Month % Change||Annual % Change||House Price|
The Dubai House Price Index tracks residential sales prices for the same selection of properties from September 2015 to date. As of November 2018, apartment and villa/townhouse prices have declined by 12% and 14% respectively, compared to their prices of AED 2.1 million and AED 5.6 million in September 2015.
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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.Close