Launching INDEXFocus UAE: Access to real estate fundamentals
posted @ 12:00am, Sunday 31 January 2010.
REIDIN.com launches INDEXFocus-UAE' to improve
transparency across the market and help real estate professionals
Sales Price Index for
January 31, 2010 Dubai: The Sales Price Index for Dubai (SPID) - All Residential has risen by 0.7 per cent in the fourth quarter of 2009 as against Q3 2009 (base quarter 2003 Q1), according to figures released by REIDIN.com, the world's first and leading global online information services provider. The figures have been computed via the company's new online service - INDEXFocus-UAE', which is designed to allow accurate tracking of price fluctuations in the residential market. Launched in partnership with the Real Estate Regulatory Agency (RERA) and Dubai Land Department (DLD), the new service provides the market with a series of indices and data sets that can help improve transparency across the market and help real estate professionals' benchmark and analyse residential price trends.
INDEXFocus-UAE' takes the latest information from the
comprehensive database of REIDIN.com's proprietary real
estate indices and tools. According to the latest information released by the
company, the SPID - Villas (Base quarter 2003 Q1) in Dubai rose by 2.6 per cent
during the fourth quarter compared to the third in 2009, but has slid by 19.7 per cent versus the comparable period in
2008. Some of the 10 main districts covered by
INDEXFocus-UAE' include 'Palm Jumeriah', where SPI - All Residential
(Base quarter 2007Q1) increased by 2 per cent (Q4 versus Q3 2009). However, the
quarterly SPI for both 'Emirates Hills' and 'Jumeriah Lake Towers' fell by 19
per cent during the same period (Base quarter 2004 Q1).
"REIDIN.com's mission is to supply real estate
professionals with online information services and tools that improve
transparency across emerging markets, and INDEXFocus' is a significant step
towards the realisation of this goal," said Ahmet Kayhan, CEO, REIDIN.com.
"Given the dynamism of Dubai's property market, we are confident that INDEXFocus - UAE' will provide analysts, investors, financiers and other
real estate professionals with valuable market data analysis tools including
accurate residential property benchmarks and trend analysis to help them grow
their business. The unveiling of our latest offering in Dubai, following the
successful launch of INDEXFocus - Turkey, underlines the product's rapid
evolution, and we are pleased to announce that we are currently working on a
similar product for the Abu Dhabi market."
Similar to the Turkey Real Estate Indices
platform, which covers seven major cities of Istanbul, Ankara, Izmir, Izmit,
Bursa, Adana and Antalya), INDEXFocus' compares house price indices with
commodity prices (such as oil and gold), financial and economic indicators
(such as inflation and interest rates) which are relevant to the real estate
industry. The Dubai indices and calculations are based primarily on transaction
records from DLD (powered by DUBAIFocus', REIDIN.com's exclusive online
information product for analysing real estate transactions in Dubai) and
Property Listings through its partnership with RERA, using a proprietary moving
average median series methodology solely developed in-house by REIDIN.com. The
main districts and major communities/projects covered by INDEXFocus-UAE' include about 7 city-wide indices and a total of 19 district and
project-based indices - 'Business Bay', 'Downtown', 'Dubai Marina', 'Jumeirah
Beach Residence', and 'The Greens', among others.
"Ensuring the accuracy of market data and relevance
to local market conditions is our top priority, which has prompted us to
appoint an advisory committee, comprised of academicians and industry
professionals from different emerging economies to monitor the quality of the
indices. Furthermore, we have established a Property Indices Oversight
Committee to be responsible for reviewing and recommending changes in index
policies and procedures, required data elements, qualifying properties, monthly
index production review and taking of any other actions deemed necessary to
assure index statistical integrity," concluded Kayhan
To know more about INDEXFocus , please contact your
nearest REIDIN.com office.
About REIDIN.com (www.reidin.com )
REIDIN.com is an online
information company providing a range of intelligence products dedicated to
meeting the unique requirements of real estate market professionals interested
in Emerging markets.
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REIDIN.com provides hard
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