Stay up to date with the latest market news
Property Monitor, the UAE’s leading real estate intelligence platform from Cavendish Maxwell, has released its Dubai House Price Index for April 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 13.2% in April 2019, with some communities registering even higher price declines. Emirates Living, Dubai Silicon Oasis, Jumeirah Lake Towers and IMPZ were some of the communities that registered price declines of more than 14% on average.
Month-on-month, the price decline for April was 1.5% compared to 1.7% in March. House prices in the three months up to March were 4.9% lower than in the previous quarter. Overall, the average house price in Dubai decreased to AED 2.5 million.
The rate of off-plan apartment transfers remained high in April, as has been the case over the past 12 months. However, the total volume of residential transactions over Q1 2019 was 1% lower than the same period in 2018. Meanwhile, the volume of apartment transfers over Q1 2019 decreased by nearly 15% compared to the same period in the past year.
According to the House Price Index for April, the average apartment price declined to AED 1.7 million, marginally below the AED 1.8 million figures from the previous two months. Meanwhile, the average villa/townhouse price remained relatively stable at AED 4.5 million. In September 2015, the prices for apartments and villas/townhouses were AED 2.1 million and AED 5.6 million respectively, indicating a decline of 19% and 20%.
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:
Stay up to date
|_ga||2 years||The _ga cookie, installed by Google Analytics, calculates visitor, session and campaign data and also keeps track of site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognize unique visitors.|
|_ga_34E12VSHW6||2 years||This cookie is installed by Google Analytics.|
|_gat_gtag_UA_66458947_1||1 minute||Set by Google to distinguish users.|
|_gat_UA-66458947-1||session||A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. The pattern element in the name contains the unique identity number of the account or website it relates to.|
|_gid||1 day||Installed by Google Analytics, _gid cookie stores information on how visitors use a website, while also creating an analytics report of the website's performance. Some of the data that are collected include the number of visitors, their source, and the pages they visit anonymously.|
|cookielawinfo-checkbox-statistics||1 year||This cookie is set by the GDPR Cookie Consent plugin to store the user consent for the cookies in the category "Statistics".|