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Dubai's House Price Index marks November growth

Sunday, 29 December 2019 20:12

iStock/gan chaonan

Average property prices in Dubai showed a 1.4 per cent rise in the month of November.

That's according to Mo'asher Index, which has been introduced by Dubai Land Department (DLD) and Property Finder, to provide consumers with updated property sales price insights in the emirate.

It showed that average house price rose to AED 1.17 million, compared to AED1.16 million in October.

The Sales Price Index for apartments also increased marginally by 0.2 per cent in November, compared to October. However, for villas and townhouses, the Sales Price Index increased by 1 per cent. The Index also revealed that Dubai’s current average gross yield stands at a healthy 6 per cent.

The formation of the Higher Real Estate Planning Committee has boosted market confidence, with a 23 per cent increase in the volume of transactions and a 33 per cent increase in the value of investments in October.

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