Average house price now at AED 2.6 million
Apartment transfers decreased by nearly 24% over first two months of 2019
Property Monitor, the UAE's leading real estate intelligence platform from Cavendish Maxwell, has released its Dubai House Price Index for February 2019. The index has been tracking the prices of a selection of apartments and villas/townhouses since September 2015.
The index indicates that the average annual house price in Dubai decreased by 10.6% in February 2019, with some communities registering even higher price declines. Discovery Gardens, Jumeirah Islands, Arabian Ranches, Emirates Living and Dubai Sports City were some of the communities that registered price declines of more than 11% on average.
Month-on-month, the price decline for February is 1.8%, 0.1% higher than in January. House prices in the three months up to February were 4.5% lower than in the previous quarter. Overall, the average house price in Dubai decreased to AED 2.6 million.
The rate of off-plan apartment transfers remained high in February, as has been the case over the past year. However, the total volume of off-plan apartment transfers decreased by nearly 24% over the first two months of 2019, compared to the same period in 2018. The volume of villa/townhouse transfers nearly doubled over the same period.
According to February’s House Price Index, the average apartment price remained relatively stable at AED 1.8 million, with only a marginal change from January, while the average villa/townhouse price decreased to AED 4.6 million. Average prices for properties tracked since September 2015 were AED 2.1 million and AED 5.6 million for apartments and villas/townhouses respectively.
The Dubai House Price Index is produced by Property Monitor, a product of Cavendish Maxwell – one of the UAE's leading property consultancies – and was developed in response to a need for greater market transparency.
To read the full report, please visit https://marketing.propertymonitor.ae/house-price-index/
About Property Monitor
Powered by Cavendish Maxwell, Property Monitor is the UAE’s only RICS-compliant real estate intelligence platform.
Real estate agencies, developers, banks and consultancies can access real-time data and expert intelligence in order to make more informed decisions based on actual transactions, valuations and trends.
Property Monitor offers users the ability to search up-to-date residential sales and leasing transactions, off-plan sales, commercial transactions and valuation data, as well as a professional opinion on achievable prices across major areas of Dubai and Abu Dhabi.
For media-related queries, please contact firstname.lastname@example.org
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.