Property Monitor Dynamic Price Index (DPI)

 

Release

Secondary Market Transfers
Apr 2021
1,285
up-to-date
Off Plan Transfers
Apr 2021
903
up-to-date
Al Furjan - Apartments
Med. Price AED 945,513
0.91%
month-on-month
Al Furjan - Villas
Med. Price AED 2,535,721
3.81%
month-on-month
Al Habtoor City
Med. Price AED 1,542,774
-0.51%
month-on-month
Al Khail Heights
Med. Price AED 491,904
-0.88%
month-on-month
Arabian Ranches
Med. Price AED 2,050,326
2.38%
month-on-month
Arabian Ranches 2
Med. Price AED 2,990,889
0.70%
month-on-month
Barsha Heights (Tecom)
Med. Price AED 885,914
-0.24%
month-on-month
Business Bay
Med. Price AED 1,547,442
-1.06%
month-on-month
City Walk
Med. Price AED 2,699,970
2.22%
month-on-month
Culture Village - Apartments
Med. Price AED 1,211,092
-2.03%
month-on-month
Damac Hills - Apartments
Med. Price AED 972,026
0.39%
month-on-month
Damac Hills - Villas
Med. Price AED 3,445,784
3.34%
month-on-month
Discovery Gardens
Med. Price AED 348,072
2.05%
month-on-month
Downtown Dubai
Med. Price AED 1,638,666
0.51%
month-on-month
Dubai Festival City
Med. Price AED 1,891,478
1.00%
month-on-month
Dubai Hills Estate - Apartments
Med. Price AED 1,679,494
3.56%
month-on-month
Dubai Hills Estate - Villas
Med. Price AED 2,870,318
3.56%
month-on-month
Dubai Investments Park - Apartments
Med. Price AED 978,515
6.05%
month-on-month
Dubai Investments Park - Villas
Med. Price AED 2,982,045
0.98%
month-on-month
Dubai Marina
Med. Price AED 1,360,086
-0.66%
month-on-month
Dubai Science Park (DuBiotech) - Apartments
Med. Price AED 1,224,044
4.06%
month-on-month
Dubai Science Park (DuBiotech) - Villas
Med. Price AED 3,600,189
2.47%
month-on-month
Dubai Silicon Oasis - Apartments
Med. Price AED 476,570
2.37%
month-on-month
Dubai Silicon Oasis - Villas
Med. Price AED 2,519,695
1.03%
month-on-month
Dubai South - Apartments
Med. Price AED 659,463
-5.26%
month-on-month
Dubai South Townhouses
Med. Price AED 1,343,197
-0.34%
month-on-month
Dubai Sports City - Apartments
Med. Price AED 466,840
-0.81%
month-on-month
Dubai Sports City - Villas
Med. Price AED 3,025,472
2.21%
month-on-month
Dubai Studio City
Med. Price AED 540,835
-0.51%
month-on-month
Emirates Living - Apartments
Med. Price AED 991,897
1.09%
month-on-month
Emirates Living - Villas
Med. Price AED 4,335,760
3.36%
month-on-month
Falcon City of Wonders
Med. Price AED 2,028,780
2.39%
month-on-month
International City
Med. Price AED 271,891
-0.23%
month-on-month
Jumeirah Beach Residence
Med. Price AED 1,491,728
3.10%
month-on-month
Jumeirah Golf Estates - Villas
Med. Price AED 5,261,070
5.90%
month-on-month
Jumeirah Lakes Towers
Med. Price AED 930,668
3.64%
month-on-month
Jumeirah Park
Med. Price AED 3,388,090
2.36%
month-on-month
Jumeirah Village Circle - Apartments
Med. Price AED 684,047
3.91%
month-on-month
Jumeirah Village Triangle - Villas
Med. Price AED 1,929,451
2.32%
month-on-month
Living Legends
Med. Price AED 1,029,375
-2.76%
month-on-month
Liwan
Med. Price AED 399,226
0.19%
month-on-month
Mohammed Bin Rashid City - Apartments
Med. Price AED 1,717,827
0.09%
month-on-month
Mohammed Bin Rashid City Townhouses
Med. Price AED 3,982,680
-0.38%
month-on-month
Motor City - Apartments
Med. Price AED 731,930
-1.51%
month-on-month
Motor City - Villas
Med. Price AED 3,795,156
-6.59%
month-on-month
Mudon
Med. Price AED 3,250,775
2.56%
month-on-month
Palm Jumeirah - Apartments
Med. Price AED 2,303,292
5.71%
month-on-month
Palm Jumeirah Fronds - Garden Homes
Med. Price AED 11,212,560
1.58%
month-on-month
Reem Townhouses
Med. Price AED 1,689,389
3.21%
month-on-month
Remraam
Med. Price AED 629,169
1.20%
month-on-month
The Hills
Med. Price AED 1,882,634
0.60%
month-on-month
The Villa
Med. Price AED 3,205,485
3.69%
month-on-month
Town Square - Apartments
Med. Price AED 916,319
1.34%
month-on-month
Town Square Townhouses
Med. Price AED 1,387,296
2.23%
month-on-month
Full
6M
1Y
3Y
5Y

 

Property Monitor launches new ‘dynamic’ index to track property trends in Dubai

  • New index series intended for banking sector clients and property professionals
  • Property Monitor Dynamic Price Index to cover 42 geographic communities in Dubai
  • Indices leverage a vast pool of historic datasets, proprietary algorithms and machine learning
  • Dynamically repopulates by incorporating any new datapoint or dataset that becomes available

Property Monitor, the UAE’s only data platform backed by property professionals accredited by the Royal Institution of Chartered Surveyors (RICS), has announced the launch of the Property Monitor Dynamic Price Index (DPI) - a new real estate market index family covering property price movement in Dubai. Apart from providing a macro-level view of Dubai with January 2008 as the base period, the indices cover in depth 42 geographic communities of the emirate.

The next-generation family of indices leverages a vast pool of historic datasets, proprietary algorithms and machine learning to most accurately capture the underlying trend in property values. These datasets are intended for use by Property Monitor’s banking clients, regulators and other property professionals who require a level of accuracy and data integrity that goes beyond simplistic indices based primarily on ‘asking prices’.

As a unique feature, the DPI dynamically repopulates by incorporating any new datapoint or dataset that becomes available, overcoming any historical inaccuracies or misrepresentation of values and trends. Since it uses the fullest dataset available, the DPI will always reflect the most up-to-date and accurate information.

Speaking on the launch, Zhann Jochinke, Chief Operating Officer, Property Monitor said, “In emerging markets like ours, additional information often becomes available when historical data is digitised and when previously confidential datasets or those with limited access are made public. The Property Monitor Dynamic Price Index has been designed to dynamically reflect these additional datasets to provide the latest and most accurate view of the real estate market, which is a key pillar of the Dubai and UAE economy. Our latest innovation aims to provide a holistic solution to our banking sector clients and property professionals to help them take informed decisions and derive maximum benefits.”

To further limit the possibility of the distortion of data, DPI follows a strict cleansing process whereby extreme values, outliers and atypical, potentially erroneous data points are removed from the dataset.

The index family is calculated using a moving average algorithm of median prices and the Dutot price index formula. The 3-month rolling average allows the indices enough time to sufficiently react to the short-term price movements but prevents misrepresentations caused by one-off events such as the release of a large amount of property supply into the market or any unusual, high-value transactions.

The new indices naturally replace the previous generation of Property Monitor price movement and indexation products which were compiled in collaboration with leading property consultancy and chartered surveying firm Cavendish Maxwell.

Commenting on the launch, Sofia Underabi, Partner, Head of Residential Valuation at Cavendish Maxwell said, “Property Monitor is playing a lead role to fulfil the market’s objectives to implement enhanced automation techniques and achieve technological advancement. Key to its derived solution is Property Monitor’s understanding of local and international regulatory requirements along with the technologies required to align with the Fintech strategies of the region’s key sectors including banking and real estate. The new index family is a leap forward in this direction.”

The DPI will provide updates on a monthly basis, releasing findings within the first working week of the month.

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