REIDIN United Arab Emirates Residential Property Price Indices: August 217 Results - Edition:15 September 2, 217
REIDIN United Arab Emirates Residential Property Price Indices July 217 Results 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
Dubai Residential Property Price Indices Sales Price Indices The Dubai Residential Property Sales Price Index for all residential decreased by 1.7 points, from 258.4 to 256.7, which represents a decrease of.63% in August 217. On the other hand, prices decreased 1.45 % y-o-y. Apartment sales prices registered a decrease in August 217. Prices decreased.7% m-o-m and also decreased 1.54% y-o-y. Villa sales prices registered an increase in August 217. Prices decreased.36% m-o-m and also decreased 1.12% y-o-y. 3
Dubai Residential Property Price Indices Sales Price Indices All Residential 3 27 259.1 258.4 256.7 2 : -.63% : -.7% : -.36% 1 1. 23 Jan 217 Jun 217 Jul 217 Aug Apartment Villa 3 4 445.2 442.9 441.3 25 2 234.9 234.4 232.7 3 2 1 1. 1 1. 23 Jan 217 Jun 217 Jul 217 Aug 23 Jan 217 Jun 217 Jul 217 Aug (January 23 = 1) 4
Dubai Residential Property Price Indices Sales Price Indices -.63% -.7% -.36% Sales Price Indices -1,5 Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year -.6% -.36% -.63% -.7% -.88% -.87% -.9% -1.1% -1.25% -1.12% -1.45% -1.54% -3,5-5 -3.26% -3.19% -3.58% Residential (%) Apartment (%) Villa (%) 5
Dubai Residential Property Price Indices Sales Price Indices and Monthly Changes ALL RESIDENTIAL APARTMENT VILLA Month (Jan.23=1) Index Number Index Number Index Number December 216 259.9 -.21% 235.7 -.25% 446.1 -.4% January 217 259.1 -.31% 235.4 -.13% 441.3-1.7% February 217 259.4.1% 235.7.12% 441.6.6% March 217 258.4 -.37% 234.6 -.44% 441. -.12% April 217 258.3 -.2% 234.3 -.13% 443..44% May 217 259..25% 234.8.18% 445.3.53% June 217 259.1.4% 234.9.6% 445.2 -.2% July 217 258.4 -.29% 234.4 -.23% 442.9 -.52% August 217 256.7 -.63% 232.7 -.7% 441.3 -.36% 6
Dubai Residential Property Price Indices Rental Price Indices The Dubai Residential Property Rental Price Index for all residential decreased by.8 points, from 92.8 to 92., which represents a decrease of.86% in August 217. On the other hand, prices decreased 6.33% y-o-y. Apartment rental prices registered a decrease in August 217. Prices decreased.87% m-o-m and also decreased 6.16% y-o-y. Villa rental prices registered a decrease in August 217. Prices decreased.86% m- o-m and also decreased 7.31% y-o-y. 7
Dubai Residential Property Price Indices Rental Price Indices All Residential 12 11 1 1. : -.86% : -.87% : -.86% 9 93.6 92.8 92. 29 Jan 217 Jun 217 Jul 217 Aug Apartment Villa 11 13 15 1 1. 12 15.4 14.1 13.2 9 91.8 91. 9.3 1 1. 29 Jan 217 Jun 217 Jul 217 Aug 29 Jan 217 Jun 217 Jul 217 Aug (January 29 = 1) 8
Dubai Residential Property Price Indices Rental Price Indices -.86% -.87% -.86% Rental Price Indices Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year - -.86% -.87% -.86% -5-2.68% -2.67% -2.71% -2.92% -2.93% -2.95% -8-6.33% -6.16% -7.31% -11-1.6% -9.56% -15-12.79% Residential (%) Apartment (%) Villa (%) 9
Dubai Residential Property Price Indices Rental Price Indices and Monthly Changes ALL RESIDENTIAL APARTMENT VILLA Month (Jan.29=1) Index Number Index Number Index Number December 216 95.8 -.4% 94. -.2% 17.1 -.15% January 217 95.6 -.16% 94. -.7% 16.4 -.63% February 217 94.8 -.9% 93. -1.4% 16.3 -.1% March 217 95.1.35% 93.4.45% 16. -.26% April 217 94.7 -.39% 93. -.41% 15.7 -.31% May 217 94.5 -.21% 92.7 -.3% 16..32% June 217 93.6 -.92% 91.8 -.97% 15.4 -.63% July 217 92.8 -.92% 91. -.86% 14.1-1.23% August 217 92. -.86% 9.3 -.87% 13.2 -.86% 1
Dubai Gross Rental Yields (%) All Residential 7.% 7.4% 7,1 7.1% 7, 7.% 7.% 5.4% 217 Jun 217 Jul 217 Aug Apartment Villa 7,5 7.5% 5,4 5.4% 5.4% 5.4% 7,4 7.4% 7.4% 217 Jun 217 Jul 217 Aug 217 Jun 217 Jul 217 Aug 11
Dubai Price-to-Rent Ratios All Residential 14.8 14. 14,8 14.7 14.8 14,6 14.6 19.2 217 Jun 217 Jul 217 Aug Apartment Villa 19,2 19.2 14, 14. 14. 19,1 19.1 13,6 13.9 19, 18,8 18.9 217 Jun 217 Jul 217 Aug 217 Jun 217 Jul 217 Aug 12
Dubai Residential Property Price Indices & Financial Indicators 3.34% 5.69% -.63% (January 23 = 1) Dubai Residential Property Price Indices & Financial Indicators 32 25 165 348.5 36.1 258.4 256.7 154.7 163.5 8 217 Jul 217 Aug Gold Price Index Oil Price Index Dubai Residential Property Price Index 13
Abu Dhabi Residential Property Price Indices: Sales Price Indices The Abu Dhabi Residential Property Sales Price Index for all residential decreased by 1.1 points, from 95.1 to 94., which represents a decrease of 1.9% in August 217. On the other hand, prices decreased 8.75% y-o-y. Apartment sales prices registered a decrease in August 217. Prices decreased 1.17% m-o-m and also decreased 8.77% y-o-y. Villa sales prices registered a decrease in August 217. Prices decreased.85% m-om and also decreased 8.7% y-o-y. 14
Abu Dhabi Residential Property Price Indices Sales Price Indices All Residential 1 1. : -1.9% : -1.17% : -.85% 95.9 95.1 94. 214 Jan 217 Jun 217 Jul 217 Aug Apartment Villa 1 1. 1 1. 95.6 94.9 93.8 96.5 95.8 94.9 214 Jan 217 Jun 217 Jul 217 Aug 214 Jan 217 Jun 217 Jul 217 Aug (January 214 = 1) 15
Abu Dhabi Residential Property Price Indices Sales Price Indices -1.9% -1.17% -.85% Sales Price Indices Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year -% -5% -1.9% -1.17% -.85% -3.27% -3.48% -2.6% -4.29% -4.34% -4.18% -8% -11% -8.75% -8.77% -8.7% -1.19% -9.45% -14% -12.51% Residential (%) Apartment (%) Villa (%) 16
Abu Dhabi Residential Property Price Indices Sales Price Indices and Monthly Changes ALL RESIDENTIAL APARTMENT VILLA Month (Jan.214=1) Index Number Index Number Index Number December 216 1.9 -.97% 1.7-1.4% 11.7 -.77% January 217 99.4-1.51% 99.1-1.56% 1.3-1.34% February 217 98.3-1.13% 98. -1.11% 99.1-1.21% March 217 97.3-1.% 97.2 -.81% 97.5-1.64% April 217 96.8 -.47% 96.8 -.48% 97. -.44% May 217 97.2.41% 97.1.4% 97.5.45% June 217 95.9-1.41% 95.6-1.54% 96.5 -.95% July 217 95.1 -.8% 94.9 -.81% 95.8 -.82% August 217 94. -1.9% 93.8-1.17% 94.9 -.85% 17
Abu Dhabi Residential Property Price Indices Rental Price Indices The Abu Dhabi Residential Property Rental Price Index for all residential decreased by 1.1 points, from 93.8 to 92.7, which represents a decrease of 1.13% in August 217. On the other hand, prices decreased 1.73% y-o-y. Apartment rental prices registered a decrease in August 217. Prices decreased 1.3% m-o-m and also decreased 11.9% y-o-y. Villa rental prices registered a decrease in August 217. Prices decreased.45% m-om and also decreased 9.34% y-o-y. 18
Abu Dhabi Residential Property Price Indices Rental Price Indices All Residential 1 1. : -1.13% : -1.3% : -.45% 94.6 93.8 92.7 214 Jan 217 Jun 217 Jul 217 Aug Apartment Villa 1 1. 1 1. 95. 94. 92.8 93.1 92.8 92.4 214 Jan 217 Jun 217 Jul 217 Aug 214 Jan 217 Jun 217 Jul 217 Aug (January 214 = 1) 19
Abu Dhabi Residential Property Price Indices Rental Price Indices -1.13% -1.3% -.45% Rental Price Indices % Last 1 Month Last 3 Month Last 6 Month Last 1 Year Last 2 Year 3% -6% -1.13% -1.3% -.45% -2.93% -3.33% -1.35% -4.77% -4.8% -4.64% -9% -12% -1.73% -11.9% -9.34% -1.74% -15% -13.16% -13.77% Residential (%) Apartment (%) Villa (%) 2
Abu Dhabi Residential Property Price Indices Rental Price Indices and Monthly Changes ALL RESIDENTIAL APARTMENT VILLA Month (Jan.214=1) Index Number Index Number Index Number December 216 1.1 -.93% 1.3 -.93% 99.3 -.96% January 217 98.5-1.57% 98.7-1.59% 97.8-1.46% February 217 97.4-1.2% 97.5-1.26% 96.9 -.98% March 217 96.2-1.14% 96.4-1.7% 95.5-1.42% April 217 95.4 -.88% 95.7 -.74% 94.1-1.45% May 217 95.5.13% 96..28% 93.6 -.5% June 217 94.6 -.93% 95. -1.1% 93.1 -.6% July 217 93.8 -.9% 94. -1.6% 92.8 -.3% August 217 92.7-1.13% 92.8-1.3% 92.4 -.45% 21
Abu Dhabi Gross Rental Yields (%) All Residential 7.2% 7.4% 7,2 7.2% 7.2% 7.2% 6.3% 217 Jun 217 Jul 217 Aug Apartment Villa 7,5 7.5% 6,3 6.3% 6.3% 7,4 7.4% 7.4% 6.2 6.2% 217 Jun 217 Jul 217 Aug 217 Jun 217 Jul 217 Aug 22
Abu Dhabi Price-to-Rent Ratios All Residential 14.4 13.9 14.4 14.4 14.4 14.4 16.3 217 Jun 217 Jul 217 Aug Apartment Villa 13.9 13.9 13.9 13.9 16.6 16.5 16.5 16.4 16.4 16.3 217 Jun 217 Jul 217 Aug 217 Jun 217 Jul 217 Aug 23
Abu Dhabi Residential Property Price Indices & Financial Indicators 3.34% 5.69% -1.9% (January 214 = 1) Abu Dhabi Residential Property Price Indices & Financial Indicators 1 99.3 12.7 95.1 94. 75 5 44.8 47.4 25 217 Jul 217 Aug Gold Price Index Oil Price Index Abu Dhabi Residential Property Price Index 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 ) 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
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