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REIDIN United Arab Emirates Residential Property Price Indices: SEPTEMBER 2017
Results - Edition:106
October 22, 2017
Dubai Market Analysis
Dubai Residential Property Price Indices: Sales Price Indices
Dubai Residential Property Price Indices: Rental Price Indices
Dubai Gross Rental Yields and Price-to-Rent Ratios
Dubai Residential Property Price Indices and Financial Indicators
Page
3
7
11
13
Abu Dhabi Market Analysis
Abu Dhabi Residential Property Price Indices: Sales Price Indices
Abu Dhabi Residential Property Price Indices: Rental Price Indices
Abu Dhabi Gross Rental Yields and Price-to-Rent Ratios
14
18
22
Methodology and Coverage 25
REIDIN United Arab Emirates Residential Property Price Indices September 2017 Results
The Dubai Residential
Property Sales Price Index
for all residential decreased
by 1.5 points, from 256.7 to
255.2, which represents a
decreased of 0.59% in
September 2017. On the
other hand, prices
decreased 1.97 % y-o-y.
Apartment sales prices
registered a decrease in
September 2017. Prices
decreased 0.79% m-o-m
and decreased 2.23% y-o-y.
Villa sales prices registered
an increase in September
2017. Prices increased
0.28% m-o-m but
decreased 0.91% y-o-y.
Dubai Residential Property Price IndicesSales Price Indices
3
Dubai Residential Property Price IndicesSales Price Indices
Apartment
300
250
200
100
0
100.0
234.4 232.7 230.9
Villa
400
300
200
100
0
100.0
442.9 441.3 442.6
All Residential
300
270
200
100
0
100.0
258.4 256.7 255.2
2003 Jan 2017 Jul 2017 Sep2017 Aug
M-o-M:
-0.59% M-o-M:
-0.79% M-o-M:
0.28%
4(January 2003 = 100)
2003 Jan 2017 Jul 2017 Sep2017 Aug2003 Jan 2017 Jul 2017 Sep2017 Aug
Dubai Residential Property Price IndicesSales Price Indices
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
Sales Price Indices
M-o-M
-0.59% M-o-M
-0.79% M-o-M
0.28%
5
-0.59%
-1.50%-1.23%
-1.97%
-3.71%
-0.79%
-1.72% -1.61%-2.23%
-3.84%
0.28%
-0.60%
0.35%
-0.91%
-3.20%
-2,5
-5
0
Dubai Residential Property Price IndicesSales Price Indices and Monthly Changes
ALL RESIDENTIAL APARTMENT VILLA
Month
(Jan.2003=100)
Index
NumberM-o-M
Index
NumberM-o-M
Index
NumberM-o-M
January 2017 259.1 -0.31% 235.4 -0.13% 441.3 -1.07%
February 2017 259.4 0.10% 235.7 0.12% 441.6 0.06%
March 2017 258.4 -0.37% 234.6 -0.44% 441.0 -0.12%
April 2017 258.3 -0.02% 234.3 -0.13% 443.0 0.44%
May 2017 259.0 0.25% 234.8 0.18% 445.3 0.53%
June 2017 259.1 0.04% 234.9 0.06% 445.2 -0.02%
July 2017 258.4 -0.29% 234.4 -0.23% 442.9 -0.52%
August 2017 256.7 -0.63% 232.7 -0.70% 441.3 -0.36%
September 2017 255.2 -0.59% 230.9 -0.79% 442.6 0.28%
6
The Dubai Residential
Property Rental Price Index
for all residential decreased
by 0.9 points, from 92.0 to
91.1, which represents a
decrease of 0.96% in
September 2017. On the
other hand, prices decreased
6.32% y-o-y.
Apartment rental prices
registered a decrease in
September 2017. Prices
decreased 0.85% m-o-m and
also decreased 6.07% y-o-y.
Villa rental prices registered
a decrease in September
2017. Prices decreased
1.49% m-o-m and also
decreased 7.74% y-o-y.
Dubai Residential Property Price IndicesRental Price Indices
7
Dubai Residential Property Price IndicesRental Price Indices
Apartment
110
105
100
90
0
100.0
91.0 90.3 89.5
Villa
130
120
100
0
100.0
104.1103.2
101.6
All Residential
120
110
100
90
0
100.0
92.8 92.0 91.1
8(January 2009 = 100)
M-o-M:
-0.96% M-o-M:
-0.85% M-o-M:
-1.49% 2009 Jan 2017 Jul 2017 Sep2017 Aug
2009 Jan 2017 Jul 2017 Sep2017 Aug2009 Jan 2017 Jul 2017 Sep2017 Aug
Dubai Residential Property Price IndicesRental Price Indices
Rental Price Indices
-0
-6
-8
-11
-15
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
M-o-M
-0.96% M-o-M
-0.85% M-o-M
-1.49%
9
-0.96%
-2.71%-4.19%
-6.32%
-10.65%
-0.85%
-2.56%-4.19%
-6.07%
-10.03%
-1.49%
-3.55% -4.15%
-7.74%
-14.01%
Dubai Residential Property Price IndicesRental Price Indices and Monthly Changes
ALL RESIDENTIAL APARTMENT VILLA
Month
(Jan.2009=100)
Index
NumberM-o-M
Index
NumberM-o-M
Index
NumberM-o-M
January 2017 95.6 -0.16% 94.0 -0.07% 106.4 -0.63%
February 2017 94.8 -0.90% 93.0 -1.04% 106.3 -0.10%
March 2017 95.1 0.35% 93.4 0.45% 106.0 -0.26%
April 2017 94.7 -0.39% 93.0 -0.41% 105.7 -0.31%
May 2017 94.5 -0.21% 92.7 -0.30% 106.0 0.32%
June 2017 93.6 -0.92% 91.8 -0.97% 105.4 -0.63%
July 2017 92.8 -0.92% 91.0 -0.86% 104.1 -1.23%
August 2017 92.0 -0.86% 90.3 -0.87% 103.2 -0.86%
September 2017 91.1 -0.96% 89.5 -0.85% 101.6 -1.49%
10
Dubai Gross Rental Yields (%)
Apartment
0
Villa
5,4
0
All Residential
7,0
0
2017 Aug2017 Jul
5.4% 5.4%
5.3%
7.0%
7.4%
5.3%
7.4% 7.4% 7.4%
7.0% 7.0% 7.0%
11
2017 Sep
7,4
2017 Aug2017 Jul 2017 Sep2017 Aug2017 Jul 2017 Sep
5,2
Dubai Price-to-Rent Ratios
Apartment
0
Villa
0
All Residential
0
19.1
19.2
19.5
14.8
14.0
19.5
14.0 14.0 14.0
14.7
14.8 14.8
12
19
19,5
14,8
19,314,0
2017 Aug2017 Jul 2017 Sep
2017 Aug2017 Jul 2017 Sep2017 Aug2017 Jul 2017 Sep
Dubai Residential Property Price Indices & Financial Indicators
360.1 368.7
163.5 176.2
256.7 255.2
320
250
165
80
0
Oil Price Index Dubai Residential Property Price Index Gold Price Index
(January 2003 = 100)
2017 Aug 2017 Sep
M-o-M
2.38%M-o-M
7.74%M-o-M
-0.59%
Dubai Residential Property Price Indices & Financial Indicators
13
The Abu Dhabi Residential
Property Sales Price Index
for all residential decreased
by 1.0 points, from 94.0 to
93.0, which represents a
decrease of 1.11% in
September 2017. On the
other hand, prices
decreased 9.29% y-o-y.
Apartment sales prices
registered a decrease in
September 2017. Prices
decreased 1.35%
m-o-m and also decreased
9.50% y-o-y.
Villa sales prices registered a
decrease in September
2017. Prices decreased
0.28% m-o-m and also
decreased 8.63% y-o-y.
Abu Dhabi Residential Property Price Indices: Sales Price Indices
14
Apartment
100
0
Villa
100
0
100.0
95.894.9 94.7
All Residential
100
0
100.0
95.194.0
93.0
Abu Dhabi Residential Property Price IndicesSales Price Indices
100.0
94.993.8
92.5
15(January 2014 = 100)
M-o-M:
-1.11% M-o-M:
-1.35% M-o-M:
-0.28% 2014 Jan 2017 Jul 2017 Sep2017 Aug
2014 Jan 2017 Jul 2017 Sep2017 Aug2014 Jan 2017 Jul 2017 Sep2017 Aug
Sales Price Indices
-0%
-5%
-8%
-11%
-14%
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
M-o-M
-1.11% M-o-M
-1.35% M-o-M
-0.28%
Abu Dhabi Residential Property Price IndicesSales Price Indices
16
-1.11%
-2.97%-4.40%
-9.29%
-10.88%
-1.35%
-3.29%
-4.87%
-9.50%-10.30%
-0.28%
-1.94%-2.86%
-8.63%
-12.67%
Abu Dhabi Residential Property Price IndicesSales Price Indices and Monthly Changes
ALL RESIDENTIAL APARTMENT VILLA
Month
(Jan.2014=100)
Index
NumberM-o-M
Index
NumberM-o-M
Index
NumberM-o-M
January 2017 99.4 -1.51% 99.1 -1.56% 100.3 -1.34%
February 2017 98.3 -1.13% 98.0 -1.11% 99.1 -1.21%
March 2017 97.3 -1.00% 97.2 -0.81% 97.5 -1.64%
April 2017 96.8 -0.47% 96.8 -0.48% 97.0 -0.44%
May 2017 97.2 0.41% 97.1 0.40% 97.5 0.45%
June 2017 95.9 -1.41% 95.6 -1.54% 96.5 -0.95%
July 2017 95.1 -0.80% 94.9 -0.81% 95.8 -0.82%
August 2017 94.0 -1.09% 93.8 -1.17% 94.9 -0.85%
September 2017 93.0 -1.11% 92.5 -1.35% 94.7 -0.28%
17
The Abu Dhabi Residential
Property Rental Price Index
for all residential decreased
by 0.7 points, from 92.7 to
92.0, which represents a
decrease of 0.73% in
September 2017. On the
other hand, prices
decreased 10.70% y-o-y.
Apartment rental prices
registered a decrease in
September 2017. Prices
decreased 1.00% m-o-m
and also decreased 11.21%
y-o-y.
Villa rental prices registered
an increase in September
2017. Prices increased 0.25%
m-o-m but decreased 8.76%
y-o-y.
Abu Dhabi Residential Property Price IndicesRental Price Indices
18
Apartment
100
0
Villa
100
0
100.0
92.8 92.4 92.6
All Residential
100
0
100.0
93.892.7
92.0
100.0
94.092.8
91.9
Abu Dhabi Residential Property Price IndicesRental Price Indices
19(January 2014 = 100)
M-o-M:
-0.73% M-o-M:
-1.00% M-o-M:
0.25% 2014 Jan 2017 Jul 2017 Sep2017 Aug
2014 Jan 2017 Jul 2017 Sep2017 Aug2014 Jan 2017 Jul 2017 Sep2017 Aug
Rental Price Indices
-5%
-10%
-15%
-20%
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
-0.73%-2.74%
-4.37%
-10.70%
-15.00%
-1.00%-3.33%
-4.74%
-11.21%
-16.30%
0.25%
-0.50%-3.02%
-8.76% -9.74%
M-o-M
-0.73% M-o-M
-1.00% M-o-M
0.25%
Abu Dhabi Residential Property Price IndicesRental Price Indices
20
0%
Abu Dhabi Residential Property Price IndicesRental Price Indices and Monthly Changes
ALL RESIDENTIAL APARTMENT VILLA
Month
(Jan.2014=100)
Index
NumberM-o-M
Index
NumberM-o-M
Index
NumberM-o-M
January 2017 98.5 -1.57% 98.7 -1.59% 97.8 -1.46%
February 2017 97.4 -1.20% 97.5 -1.26% 96.9 -0.98%
March 2017 96.2 -1.14% 96.4 -1.07% 95.5 -1.42%
April 2017 95.4 -0.88% 95.7 -0.74% 94.1 -1.45%
May 2017 95.5 0.13% 96.0 0.28% 93.6 -0.50%
June 2017 94.6 -0.93% 95.0 -1.01% 93.1 -0.60%
July 2017 93.8 -0.90% 94.0 -1.06% 92.8 -0.30%
August 2017 92.7 -1.13% 92.8 -1.30% 92.4 -0.45%
September 2017 92.0 -0.73% 91.9 -1.00% 92.6 0.25%
21
Abu Dhabi Gross Rental Yields (%)
Apartment
7,5
0
Villa
0
All Residential
7,2
0
6.3% 6.3% 6.3%
7.2%
7.5%
6.3%
7.4% 7.4%
7.5%
7.2% 7.2% 7.2%
22
7,4
6,3
6.2
2017 Aug2017 Jul 2017 Sep
2017 Aug2017 Jul 2017 Sep2017 Aug2017 Jul 2017 Sep
Abu Dhabi Price-to-Rent Ratios
Apartment
0
Villa
0
All Residential
0
16.4
16.3 16.3
14.4
13.9
16.3
13.9 13.9 13.9
14.4 14.4 14.4
23
14.4
13.9
16.4
16.3
2017 Aug2017 Jul 2017 Sep
2017 Aug2017 Jul 2017 Sep2017 Aug2017 Jul 2017 Sep
Abu Dhabi Residential Property Price Indices & Financial Indicators
102.7 105.1
47.4 51.0
94.0 93.0100
75
50
25
0
Oil Price Index Abu Dhabi Residential Property Price Index Gold Price Index
(January 2014 = 100)
2017 Aug 2017 Sep
M-o-M
2.38%M-o-M
7.74%M-o-M
-1.11%
Abu Dhabi Residential Property Price Indices & Financial Indicators
24
REIDIN-UAE Residential Property Price Indices Methodology & Coverage
REIDIN UAE Residential Property Price Indices (RPPIs) are designed to be a reliable and consistent benchmark of housing sales
and rent prices in Dubai and Abu Dhabi. The purpose of the indices is to measure the average differences in house prices in a
particular geographic market through a timeline.
Methodology and Coverage
Monthly REIDIN Dubai and Abu Dhabi RPPIs are calculated based on moving average median prices– an approach that is widely
used for indexing housing prices – which involves median of sales prices of properties in a corresponding region. The median
series of sales price data is constructed by taking “the median price/sqm” of all properties during a certain time period. REIDIN
Dubai RPPI employs “weighted” average of the median prices of areas for the calculation of the monthly index series. The
weights used in the methodology are the “existing supply” of each area which is derived from housing stock and will be
updated semi-annually. All Dubai indices are calculated by using the Laspeyres price index formula and a moving average
algorithm. On the other hand, REIDIN Abu Dhabi RPPIs are calculated by using the Dutot price index formula (defined as the
ratio of the unweighted arithmetic average of the prices in the current period t to base period 0) and a moving average
algorithm.
The official Dubai and Abu Dhabi Real Estate Residential Sales Price Indices provided to Bank of International Settlements (BIS)
by the Central Bank of United Arab Emirates (CBUAE) is designed and produced by REIDIN.
25
LEGAL NOTICE
Although all values, statements and visual materials in this report are provided, indicated and calculated neatly
by REIDIN, we make no warranty, assurance or guarantee that materials and values are absolutely accurate.
REIDIN highly recommends that this report should not be taken as an endorsement of or recommendation on
any participation by any intending investor or any other party in any transaction whatsoever. This information is
presented exclusively for use by REIDIN clients and professionals and all rights to the material are reserved and
cannot be reproduced without prior written permission of REIDIN.
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Dubai. United Arab Emirates
Tel: +971 4 277 68 35
Fax: +971 4 360 47 88
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