Dubai launches official House Price Index

Mo’asher will receive data from DLD on a monthly basis, that will be coupled with data on property asking prices by Data Finder, according to a press release on Sunday.

Moreover, Mo’asher will educate customers about Dubai real estate market and how property prices in Dubai perform during a particular month through transparently providing enhanced data.

Pertinent details, including the average price per sale and the average price per square foot, will be shared by Mo’asher, among other information.

Furthermore, the index registered positive findings for November 2019, with the Dubai Sales Price Index rising by 1.4% and the average Dubai property sales price reaching AED 1.177 million, compared to AED 1.161 million in October.

Additionally, the Sales Price Index for apartments inched up by 0.2% in November compared to October.

As regards villas and townhouses, the index was up by 1%, while Dubai’s current average gross yield stood at a healthy 6%.

“The creation of Mo’asher, or the Dubai House Price Index, is a consolidation of our promise to provide consumers with superior insights to support them in taking property-buying decisions,” said DLD’s director general, Sultan Butti bin Mejren.

Meanwhile, the CEO of the Promotion and Real Estate Investment Management sector at DLD, Majida Ali Rashid, concluded, “The collaboration with Property Finder in launching this index will attract new investors to the real estate market. We will work hard to provide important statistics about our real estate market, especially as data plays an important role in enhancing the transparency of the sector and gaining investor confidence.”