19 December 2010

REIDIN.com Index Shows Marginal Rise in Dubai Apartment Prices during November 2010


Dubai, United Arab Emirates: REIDIN.com, the leading real estate information company covering emerging economies, today announced apartment prices in the ‘51-100 sq. metre’ category in Dubai were marginally up during November 2010, remaining stronger than prices for other categories of apartments on a month-on-month basis.
However, prices in the ’50 sq metre and less’, ‘101 – 150 sq. metre’ and ‘151 sq metre and above’ categories remained depressed, according to the figures computed through REIDIN.com Sales Price Index for Dubai (SPID), part of REIDIN.com’s comprehensive online property information databases that also cover proprietary indices for the UAE, intended to accurately track price fluctuations in the residential real estate market.

A reliable and consistent benchmark of residential property prices in Dubai, the REIDIN.com Sales Price Indices (SPID) are powered with the transactions data from the Real Estate Regulatory Agency (RERA), in addition to various property listings and valuation reports. The raw data is made available through REBIS – UAE, a REIDIN.com product that offers data, information and analysis covering over 8,750 property profiles, projects, transactions, listings, indices, reports and analytics.

“As a leading source for authentic information on the real estate sector, REIDIN.com’s data provide industry analysts and investors a benchmark that can be relied upon for taking the right investment or purchase decision. Through our in-house real estate research experts and strategic partnerships we continue to offer accurate information and effectively contribute to strengthening the overall transparency levels of the industry,” emphasised Ahmet Kayhan, CEO of REIDIN.com.

Chart 1.2 Residential Price Appreciation: By Apartment Size November 2010

According to the latest statistics, prices in the ’50 sq. metre and less’ category were below by a nominal 17.55% year-on-year in November 2010 while on a month-on-month basis, prices fell by a nominal 0.10% during the month.
In the ‘51-100 sq. metre’ category segment, the average nominal price decreased 9.06% year-on-year and 0.11% month-on-month in November 2010.
In the ‘101-150 sq. metres’ segment, the average nominal price decreased 6.30% year-on-year and 2.31% month-on-month in November 2010.
Prices in the ‘151 sq. metre and more’ category were down by a nominal 7.91% year-on-year in November 2010 and decreased by a nominal 2.36% month-on-month during the period.

Overall, apartment prices decreased by 1.12%, while villa prices fell by 0.81% in November 2010 compared to October 2010.
The REIDIN.com SPID – All Residential dropped by 8.36 points in Q3 2010 to 167.60 basis points, a 4.75% decrease from Q3 2009. At the same time, the apartment index declined by 7.48%, while the villa index increased by 0.90% between Q3 2009 and Q3 2010.

Chart 1.1 Residential Price Appreciations: November 2010

The overall residential sales prices were down by a nominal 2.30%, with apartment sales prices dipping 1.12% and villa prices falling 0.81% during November 2010. On a year on year basis, this represented a decline of 13.90% between November 2009 and November 2010 in the SPID-All Residential.

Table 1.2 SPID – Apartment (Nominal, January 2006 = 100)

In November 2010, the REIDIN.com Residential Sales Price Index was a mere 55.60 points (55.60%) above its base value of 100 points in January 2003. Whereas, the REIDIN.com Apartment Sales Price Index was 40.30 points (40.30%) above and the REIDIN.com Villa Sales Price Index was 182.42 (182.42%) above their base value of 100 points in January 2003.

Chart 1.3 Sales Price Index Dubai (January 2003 = 100)

The REIDIN.com SPID – All Residential, oil and gold indices change between the period January 2003 and November 2010. In November 2010, the REIDIN.com SPID was 55.60% above its base value of 100 points in January 2003. Whereas, the oil index was 173.04% above and the gold index was 287.77% above their base value of 100 points in January 2003.

Chart 1.4 SPID – All Residential vs. Oil Index vs. Gold Index 

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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.
REIDIN.com provides hard–to-find proprietary real estate data and intelligence with online tools and services that enable real estate professionals to enhance their understanding of emerging markets such as United Arab Emirates, China, India, Vietnam, Singapore, Malaysia, Russia, Saudi Arabia, Kuwait, Turkey, Poland, Bulgaria, Romania, Hungary, Brazil, Argentina and more.

REIDIN.com services are used by investors, fund managers, developers, consultants, researchers, valuation experts, construction and project managers, occupiers, as well as many others who are interested in monitoring and understanding the market trends and business challenges relevant to them in real estate markets.
REBIS – Real Estate Business Intelligence Service:
REIDIN.com’s flagship product covering over 36 emerging countries in addition to UAE from GCC/MENA, Asia, Europe and Latin America. Property profiles, Comparables: Listings, Valuations and Transactions, occupancy rates, Projects Data, Indices, Macroeconomic Data, Supply and Demand information, News, Reports from over 500 information sources in addition to REIDIN.com’s proprietary data sources.

For Further Media Enquires please contact:

Walid El-Tigi
PO Box 79241, Dubai, UAE
Tel: +971-55-4048296

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