The Department of Lands and Properties in Dubai, in partnership with the Property Finder group, revealed the second edition of the official selling price index in the Emirate of Dubai, after working to improve it and expand it, to become an annual and quarterly indicator, in addition to the monthly index that came in the current version .
The issuance included the quarterly index for the first quarter of the year 2020, and the monthly index for the year 2020 until April, while the year 2012 was taken as the base year, and from January 2012 the base month, and the first quarter of the same year separated the base.
According to the quarterly data, the first quarter of 2020 witnessed a 16% increase in the number of real estate transactions compared to the first quarter of 2019, while February 2020 witnessed a significant increase by 40% in terms of the number of real estate transactions compared to February 2019.
During the new edition, the historical performance was reviewed, and changes in trends over the past few years were clarified, based on data issued by the Department of Lands and Properties in Dubai, as Dubai recorded 40 thousand and 517 allegations during 2019 compared to 34 thousand and 414 sales in 2018, achieving growth of 18%.
Latifa Ibrahim Ahmed, director of the first real estate studies and research department, said: “The indicator becomes more important because it is based on the relevant monthly data, and combined with data on the required real estate prices.” Noting that the index includes enormous market advantages, because it provides all Those interested in an overview of the in-depth analyzes of the market, and they can also see how real estate prices in Dubai changed during a particular month.
In turn, Lynette Abbad, Director of Research and Data at Propertyfinder, said that investors can rely on this indicator to feel confident about the accuracy of the data it provides to them, to contribute to enhancing the transparency of the real estate market, while providing it with an average view. Selling prices, average square feet and other important details.