Property Monitor Dynamic Price Index (DPI)

 

Release

Secondary Market Transfers
Dec 2019
280
up-to-date
Off Plan Transfers
Dec 2019
387
up-to-date
Al Furjan - Apartments
AED 1,160,341 Avg. Price
2.23%
month-on-month
Al Furjan - Villas
AED 2,644,871 Avg. Price
-2.99%
month-on-month
Al Habtoor City
AED 2,086,376 Avg. Price
-1.75%
month-on-month
Al Khail Heights
AED 717,038 Avg. Price
-4.13%
month-on-month
Al Sufouh
AED 1,000,372 Avg. Price
-2.99%
month-on-month
Arabian Ranches
AED 1,913,723 Avg. Price
-0.22%
month-on-month
Arabian Ranches 2
AED 3,693,789 Avg. Price
-4.13%
month-on-month
Barsha Heights (Tecom)
AED 1,332,997 Avg. Price
7.30%
month-on-month
Business Bay
AED 1,561,590 Avg. Price
0.18%
month-on-month
City Walk
AED 3,026,351 Avg. Price
1.96%
month-on-month
Culture Village - Apartments
AED 1,606,167 Avg. Price
3.29%
month-on-month
Damac Hills (Akoya By Damac) - Apartments
AED 1,391,949 Avg. Price
0.66%
month-on-month
Damac Hills (Akoya By Damac) - Villas
AED 3,329,178 Avg. Price
10.22%
month-on-month
Discovery Gardens
AED 423,337 Avg. Price
-0.44%
month-on-month
Downtown Burj Khalifa
AED 1,791,470 Avg. Price
-0.01%
month-on-month
Dubai Festival City
AED 2,518,338 Avg. Price
0.88%
month-on-month
Dubai Investments Park - Apartments
AED 1,301,937 Avg. Price
-11.92%
month-on-month
Dubai Investments Park - Villas
AED 3,051,967 Avg. Price
-1.05%
month-on-month
Dubai Marina
AED 1,420,509 Avg. Price
0.69%
month-on-month
Dubai Residence Complex
AED 521,198 Avg. Price
17.50%
month-on-month
Dubai Science Park (DuBiotech) - Apartments
AED 1,331,564 Avg. Price
-1.88%
month-on-month
Dubai Science Park (DuBiotech) - Villas
AED 3,578,025 Avg. Price
-6.84%
month-on-month
Dubai Silicon Oasis - Apartments
AED 516,945 Avg. Price
-3.41%
month-on-month
Dubai Silicon Oasis - Villas
AED 2,884,285 Avg. Price
0.00%
month-on-month
Dubai South (Dubai World Central) - Apartments
AED 875,232 Avg. Price
1.93%
month-on-month
Dubai South (Dubai World Central) Townhouses
AED 1,427,322 Avg. Price
-1.99%
month-on-month
Dubai Sports City - Apartments
AED 629,350 Avg. Price
-0.02%
month-on-month
Dubai Sports City - Villas
AED 3,390,932 Avg. Price
-3.28%
month-on-month
Dubai Studio City
AED 764,841 Avg. Price
-1.32%
month-on-month
Emirates Living - Apartments
AED 1,097,492 Avg. Price
-1.80%
month-on-month
Emirates Living - Villas
AED 3,995,626 Avg. Price
-1.17%
month-on-month
Falcon City of Wonders
AED 2,540,400 Avg. Price
-5.82%
month-on-month
IMPZ
AED 420,732 Avg. Price
0.30%
month-on-month
International City
AED 306,397 Avg. Price
0.14%
month-on-month
Jumeirah Beach Residence
AED 1,528,272 Avg. Price
1.24%
month-on-month
Jumeirah Golf Estates - Apartments
AED 1,484,175 Avg. Price
0.13%
month-on-month
Jumeirah Golf Estates - Villas
AED 7,057,597 Avg. Price
0.27%
month-on-month
Jumeirah Islands
AED 5,334,000 Avg. Price
-3.70%
month-on-month
Jumeirah Lakes Towers
AED 1,069,573 Avg. Price
-0.71%
month-on-month
Jumeirah Park
AED 3,432,614 Avg. Price
-4.64%
month-on-month
Jumeirah Village Circle - Apartments
AED 725,876 Avg. Price
-2.67%
month-on-month
Jumeirah Village Triangle - Apartments
AED 881,287 Avg. Price
2.49%
month-on-month
Jumeirah Village Triangle - Villas
AED 2,004,414 Avg. Price
-1.18%
month-on-month
Living Legends
AED 965,696 Avg. Price
-3.77%
month-on-month
Liwan
AED 543,058 Avg. Price
-3.71%
month-on-month
Mirdif
AED 1,237,600 Avg. Price
0.00%
month-on-month
Mohammed Bin Rashid City - Apartments
AED 1,600,892 Avg. Price
-3.67%
month-on-month
Mohammed Bin Rashid City Townhouses
AED 3,381,297 Avg. Price
-2.17%
month-on-month
Motor City - Apartments
AED 956,921 Avg. Price
5.22%
month-on-month
Motor City - Villas
AED 3,593,286 Avg. Price
32.84%
month-on-month
Mudon
AED 3,135,241 Avg. Price
2.21%
month-on-month
Palm Jumeirah - Apartments
AED 2,627,552 Avg. Price
2.54%
month-on-month
Palm Jumeirah Fronds - Garden Homes
AED 12,796,352 Avg. Price
-8.58%
month-on-month
Reem Townhouses
AED 1,764,705 Avg. Price
-1.76%
month-on-month
Remraam
AED 750,362 Avg. Price
-0.88%
month-on-month
The Hills
AED 1,920,146 Avg. Price
0.08%
month-on-month
The Lagoons
AED 0 Avg. Price
0.00%
month-on-month
The Villa
AED 2,998,800 Avg. Price
-4.03%
month-on-month
Town Square - Apartments
AED 1,878,894 Avg. Price
-1.06%
month-on-month
Town Square Townhouses
AED 1,434,399 Avg. Price
-0.31%
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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