REIDIN United Arab Emirates Residential Property Price Indices: April 2017 Results
Edition:101
May 31, 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 April 2017 Results
The Dubai Residential
Property Sales Price Index for
all residential decreased by
0.04 points, from 258.40 to
258.36, which represents a
decrease of 0.02% in April
2017. On the other hand,
prices increased 0.28 % y-o-y.
Apartment sales prices
registered a decrease in
April 2017. Prices decreased
0.13% m-o-m but increased
0.51% y-o-y.
Villa sales prices registered an
increase in April 2017. Prices
increased 0.44% m-o-m but
decreased 0.66% 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
235.7 234.6 234.3
Villa
400
300
200
100
0
100.0
441.6 441.0 443.0
All Residential
300
250
200
100
0
100.0
259.4 258.4 258.4
2003 Jan 2017 Feb 2017 Apr2017 Mar
M-o-M:
-0.02% M-o-M:
-0.13% M-o-M:
0.44%
4(January 2003 = 100)
2003 Jan 2017 Feb 2017 Apr2017 Mar2003 Jan 2017 Feb 2017 Apr2017 Mar
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
-0.02% M-o-M
-0.13% M-o-M
0.44%
5
-0.02% -0.29%-0.81%
0.28%
-7.20%
-0.13% -0.45% -0.83%
0.51%
-6.79%
0.44% 0.38%
-0.76% -0.66%
-8.85%
-0
-4
-7
-10
-12
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
August 2016 260.5 0.14% 236.4 0.19% 446.3 -0.07%
September 2016 260.4 -0.06% 236.1 -0.09% 446.6 0.07%
October 2016 260.5 0.04% 236.3 0.07% 446.4 -0.06%
November 2016 260.5 -0.01% 236.3 0.00% 446.3 -0.02%
December 2016 259.9 -0.21% 235.7 -0.25% 446.1 -0.04%
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 258.40 -0.37% 234.6 -0.44% 441.0 -0.12%
April 2017 258.36 -0.02% 234.3 -0.13% 443.0 0.44%
6
The Dubai Residential Property
Rental Price Index for all
residential decreased by 0.4
points, from 95.1 to 94.7, which
represents a decrease of 0.39%
in April 2017. On the other
hand, prices decreased 4.08%
y-o-y.
Apartment rental prices
registered a decrease in April
2017. Prices decreased 0.41%
m-o-m and also decreased
3.49% y-o-y.
Villa rental prices registered a
decrease in April 2017. Prices
decreased 0.31% m-o-m and
also decreased 7.29% y-o-y.
Dubai Residential Property Price IndicesRental Price Indices
7
Dubai Residential Property Price IndicesRental Price Indices
Apartment
110
105
100
95
0
100.0
93.0 93.4 93.0
Villa
130
120
110
100
0
100.0
106.3 106.0 105.7
All Residential
120
110
100
90
0
100.0
94.8 95.1 94.7
8(January 2009 = 100)
M-o-M:
-0.39% M-o-M:
-0.41% M-o-M:
-0.31% 2009 Jan 2017 Feb 2017 Apr2017 Mar
2009 Jan 2017 Feb 2017 Apr2017 Mar2009 Jan 2017 Feb 2017 Apr2017 Mar
Dubai Residential Property Price IndicesRental Price Indices
Rental Price Indices
-2
-6
-9
-12
-16
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
M-o-M
-0.39% M-o-M
-0.41% M-o-M
-0.31%
9
-0.39% -0.94%-1.83%
-4.08%
-8.14%
-0.41%-1.00%
-1.63%
-3.49%
-7.27%
-0.31% -0.68%
-2.99%
-7.29%
-13.16%
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
August 2016 98.2 0.30% 96.2 0.46% 111.3 -0.63%
September 2016 97.3 -0.97% 95.3 -0.95% 110.1 -1.04%
October 2016 96.5 -0.79% 94.6 -0.75% 108.9 -1.08%
November 2016 95.8 -0.70% 94.0 -0.54% 107.2 -1.57%
December 2016 95.8 -0.04% 94.0 -0.02% 107.1 -0.15%
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%
10
Dubai Gross Rental Yields (%)
Apartment
7,5
0
Villa
5
0
All Residential
7,2
7,1
0
2017 Mar2017 Feb
5.5% 5.5% 5.5%
7.2%
7.6%
5.5%
7.5%
7.6% 7.6%
7.1%
7.2% 7.2%
11
2017 Apr
2017 Mar2017 Feb 2017 Apr 2017 Mar2017 Feb 2017 Apr
Dubai Price-to-Rent Ratios
Apartment
13
0
Villa
18
0
All Residential
14
0
18.6 18.6
18.8
14.4
13.7
18.8
13.7
13.6
13.7
14.5
14.4 14.4
12
2017 Mar2017 Feb 2017 Apr
2017 Mar2017 Feb 2017 Apr 2017 Mar2017 Feb 2017 Apr
Dubai Residential Property Price Indices & Financial Indicators
345.7 358.1
165.9 169.2
258.4 258.4
320
250
170
80
0
Oil Price Index Dubai Residential Property Price Index Gold Price Index
(January 2003 = 100)
2017 Mar 2017 Apr
M-o-M
3.58%M-o-M
2.03%M-o-M
-0.02%
Dubai Residential Property Price Indices & Financial Indicators
13
The Abu Dhabi Residential
Property Sales Price Index for all
residential decreased by 0.5
points, from 97.3 to 96.8, which
represents a decrease of 0.47%
in April 2017. On the other
hand, prices decreased 6.55% y-
o-y.
Apartment sales prices
registered a decrease in April
2017. Prices decreased 0.48%
m-o-m and also decreased
6.51% y-o-y.
Villa sales prices registered a
decrease in April 2017. Prices
decreased 0.44% m-o-m and
also decreased 6.68% y-o-y.
Abu Dhabi Residential Property Price Indices: Sales Price Indices
14
Apartment
100
70
60
50
0
Villa
100
0
100.099.1
97.5 97.0
All Residential
135
110
85
60
0
100.0
98.397.3 96.8
Abu Dhabi Residential Property Price IndicesSales Price Indices
100.0
98.0
97.296.8
15(January 2014 = 100)
M-o-M:
-0.47% M-o-M:
-0.48% M-o-M:
-0.44% 2014 Jan 2017 Feb 2017 Apr2017 Mar
2014 Jan 2017 Feb 2017 Apr2017 Mar2014 Jan 2017 Feb 2017 Apr2017 Mar
Sales Price Indices
-2%
-4%
-7%
-9%
-12%
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
M-o-M
-0.47% M-o-M
-0.48% M-o-M
-0.44%
Abu Dhabi Residential Property Price IndicesSales Price Indices
16
-0.47%
-2.58%
-5.25%
-6.55%
-7.94%
-0.48%
-2.38%
-4.89%
-6.51%-7.35%
-0.44%
-3.25%
-6.43% -6.68%
-9.84%
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
August 2016 103.1 0.05% 102.8 -0.07% 104.0 0.43%
September 2016 102.5 -0.51% 102.2 -0.56% 103.6 -0.36%
October 2016 102.2 -0.33% 101.7 -0.46% 103.7 0.08%
November 2016 101.9 -0.29% 101.7 0.00% 102.4 -1.21%
December 2016 100.9 -0.97% 100.7 -1.04% 101.7 -0.77%
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%
17
The Abu Dhabi Residential
Property Rental Price Index for
all residential decreased by 0.8
points, from 96.2 to 95.4, which
represents a decrease of 0.88%
in April 2017. On the other
hand, prices decreased 10.47%
y-o-y.
Apartment rental prices
registered a decrease in April
2017. Prices decreased 0.74%
m-o-m and also decreased
11.02% y-o-y.
Villa rental prices registered a
decrease in April 2017. Prices
decreased 1.45% m-o-m and
also decreased 8.29% y-o-y.
Abu Dhabi Residential Property Price IndicesRental Price Indices
18
Apartment
100
70
55
50
0
Villa
100
70
60
50
0
100.0
96.9
95.5
94.1
All Residential
100
70
55
50
0
100.0
97.4
96.295.4
100.0
97.5
96.495.7
Abu Dhabi Residential Property Price IndicesRental Price Indices
19(January 2014 = 100)
M-o-M:
-0.88% M-o-M:
-0.74% M-o-M:
-1.45% 2014 Jan 2017 Feb 2017 Apr2017 Mar
2014 Jan 2017 Feb 2017 Apr2017 Mar2014 Jan 2017 Feb 2017 Apr2017 Mar
Rental Price Indices
-2%
-5%
-7%
-9,5
-12%
Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year
Apartment (%) Villa (%)Residential (%)
-0.88%
-3.19%
-6.77%
-10.47% -10.90%
-0.74%
-3.03%
-6.73%
-11.02% -11.23%
-1.45%
-3.80%
-6.89%
-8.29%
-9.58%
M-o-M
-0.88% M-o-M
-0.74% M-o-M
-1.45%
Abu Dhabi Residential Property Price IndicesRental Price Indices
20
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
August 2016 103.9 -0.53% 104.4 -0.59% 101.9 -0.29%
September 2016 103.1 -0.77% 103.5 -0.87% 101.5 -0.38%
October 2016 102.3 -0.73% 102.6 -0.80% 101.1 -0.43%
November 2016 101.0 -1.24% 101.3 -1.35% 100.2 -0.82%
December 2016 100.1 -0.93% 100.3 -0.93% 99.3 -0.96%
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%
21
Abu Dhabi Gross Rental Yields (%)
Apartment
7,0
0
Villa
0
All Residential
7,1
7,0
0
2017 Mar2017 Feb
6.3% 6.3% 6.3%
7.2%
7.4%
6.3%
7.5% 7.5%
7.4%
7.2% 7.2% 7.2%
2017 Apr
2017 Mar2017 Feb 2017 Apr 2017 Mar2017 Feb 2017 Apr
22
Abu Dhabi Price-to-Rent Ratios
Apartment
0
Villa
0
All Residential
14.3
0
2017 Mar2017 Feb
16.3
16.2
16.4
14.4
13.9
16.4
13.8
13.9 13.9
14.3
14,4 14.4
2017 Apr
2017 Mar2017 Feb 2017 Apr 2017 Mar2017 Feb 2017 Apr
23
Abu Dhabi Residential Property Price Indices & Financial Indicators
98.6 102.1
48.1 49.0
97.3 96.8130
100
60
40
0
Oil Price Index Abu Dhabi Residential Property Price Index Gold Price Index
(January 2014 = 100)
2017 Mar 2017 Apr
M-o-M
3.58%M-o-M
2.03%M-o-M
-0.47%
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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