29 September 2014

Dubai Property agents expectations for property price growth moderately positive

REIDIN launches its Housing Market Professionals Sentiment Index (HMPSI) for Dubai.

Dubai – UAE, 30 September 2014: REIDIN, the leading real estate information company released today the Dubai Housing Market Professionals Sentiment Index to be the first available indicator of near future Dubai residential property price trends.

REIDIN HMPSI, is a quarterly survey conducted amongst around 3000 real estate professionals such as Agents, Developers, Bankers and Consultants and provides exclusive information in this sector. With the aim to analyse the current market sales and rent price trends versus the sentiment of real estate professionals concerning the housing market in the next three months, it also providesa valuable early snapshot of the current and future house sales and rent prices in Dubai.

The index is calculated using the internationally recognized “Balance Method”, with values indicators within the range of 0-200. An index score of 100 means neutral sentiment, over 100 is positive and below 100 is negative. Closer to 0 means more negative while closer to 200 means more positive sentiment.

Based on the compiled results of the first survey, REIDIN HMPSI Sales Volume Sentiment Index Score is moderately positive at 102.5. The most optimistic group of professionals is Agents with a HMPSI Sales Volume Sentiment Index Score of 132, followed by Financial Institutions at 106 and followed by Developers at 82. Consultants are the most pessimistic group of professionals with an index score of 79 in contrary to Agents, Developers and Financiers.

REIDIN HMPSI Sales Price Sentiment Index Score is moderately negative at 84.8. The most optimistic group of professionals are Developers and Financial Institutions together with a HMPSI Sales Price Sentiment Index Score of 94, followed by Agents at 88. Consultants are the most pessimistic group of professionals with an index score of 63 versus Agents, Developers and Financiers.

 
REIDIN HMPSI Rental Price Sentiment Index Score is moderately positive at 106.8 and HMPSI Rental Volume Sentiment Index Score is positive at 140.9.

Overall REIDIN HMPSI Economic Outlook Sentiment Index Score among professionals is very positive at almost 140.5.


Ahmet Kayhan CEO of REIDIN commented: “With a positive Economic Outlook of 140.5, we are happy to share these results with the Dubai real estate community. While the market has been slowing by transaction volume and sales price increase pace, we believe the fundamentals of Dubai still stay strong supporting the base for an overall positive Sentiment over the economy and real estate sales and rent prices”. He added: “REIDIN will be conducting this survey every quarter, by gathering detailed level of data and information about the Housing Market Trends and Future Expectations towards Supply, Demand, Developer Brands, Mortgage Rates and will be available to our clients and market participants via REIDIN’s online channels.”

REIDIN Dubai Real Estate Business Sentiment Index is developed by REIDIN Data&Research Teams.

Methodology

The sampling frame is derived from a sampling of 3000 Agents,Developers, Financial Institutions/Banks, and Consultants. A standardized format questionnaire is directed to randomly selected business professionals, via a web-based survey system. Sentiment level is measured around topic of Price Appreciations, Total Sales Volume and Leasing Volume, Supply/Project Launches, Financing Availability and Economic Outlook.
 
About REIDIN
REIDIN.com is the leading real estate information company focusing on emerging markets. REIDIN.com offers intelligent and user-friendly online information solutions helping professionals access relevant data and information in a timely and cost effective basis. REIDIN.com “Data & Research Team” together with a global network of Information Partners endeavors to provide high-end analysis and research support.
 
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