Bahrain
Kuwait
Oman
Qatar
Saudi Arabia
UAE
Print
Email
Discuss this article (9 Comments)RERA announces house price index plan for 2010
by This email address is being protected from spam bots, you need Javascript enabled to view it on Tuesday, 06 October 2009
PRICE INDEX: RERA is to launch a house price index in early 2010. (Getty Images)
Dubai's real estate watchdog has announced plans to introduce a house price index in early 2010, similar to its rental index.
Mahmoud Hesham Al Burai, director of Development at the Real Estate Regulatory Authority (RERA) said that the property price index would help to benchmark property values in the emirate.
"We will announce the price index in the beginning of next year," Al Burai said in comments published in Khaleej Times on Tuesday.
Related: Cityscape Day 1 - as it happened
Related: 2009 rental index prices revealed
The price index would be comprehensive and cover all property developments in the emirate, he added.
Established in July 2007 by a royal decree, RERA is part of the Dubai Land Department, which regulates, manages and licenses various real estate-related activities in Dubai.
"We want to see the market where the rights of all parties will be protected, and in this regard the agency needs cooperation of all stakeholders," he told the paper.
Around 420 developers and 8,000 brokers are registered with RERA.
READERS' COMMENTS
Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.
Rental Index by RERA in Sept 09
Posted by KM,Dubai, Dubai, United Arab Emirates on Sunday 11 October 2009 at 15:51 UAE time
Where is the rental index after Apr 09. The rents have considerably come down in all areas as many flats are empty in Dubai after recession. There are no takers. Still RERA wants landlords to enjoy unjustified increase of rents in 2009 by not publishing the current rental Index. This is not fair!!!
RERA must immediately release the new rental index for fair and transparent present rents in Dubai.
Posted by KM,Dubai, Dubai, United Arab Emirates on Sunday 11 October 2009 at 15:51 UAE time
Where is the rental index after Apr 09. The rents have considerably come down in all areas as many flats are empty in Dubai after recession. There are no takers. Still RERA wants landlords to enjoy unjustified increase of rents in 2009 by not publishing the current rental Index. This is not fair!!!
RERA must immediately release the new rental index for fair and transparent present rents in Dubai.
RERA
Posted by trudy_mettler@yahoo.com, Dubai, United Arab Emirates on Wednesday 7 October 2009 at 21:25 UAE time
So many people complain about RERA. All these people have right. Also Maheen, also our flat went up by more than 20%. They do not have money anymore. So where they will get it is the tenant.
But all you people why always writing about RERA, we can not do anything. Also if we complain about it. They have there plan and they (Landlords) need money. That is all. They do not care if you can affort it or not. We do not have to say anything. Do not lose your time with writing.
Posted by trudy_mettler@yahoo.com, Dubai, United Arab Emirates on Wednesday 7 October 2009 at 21:25 UAE time
So many people complain about RERA. All these people have right. Also Maheen, also our flat went up by more than 20%. They do not have money anymore. So where they will get it is the tenant.
But all you people why always writing about RERA, we can not do anything. Also if we complain about it. They have there plan and they (Landlords) need money. That is all. They do not care if you can affort it or not. We do not have to say anything. Do not lose your time with writing.
RERA
Posted by naive, Dubai, UAE on Wednesday 7 October 2009 at 14:09 UAE time
Rera job is to regulate market when upward and that also in realistic manner not the way done with rent index which is causing problem to lot of people in this downturn time
It will be better for economy and market that RERA does not interfere in this crisis time just to keep prices artificially high
Posted by naive, Dubai, UAE on Wednesday 7 October 2009 at 14:09 UAE time
Rera job is to regulate market when upward and that also in realistic manner not the way done with rent index which is causing problem to lot of people in this downturn time
It will be better for economy and market that RERA does not interfere in this crisis time just to keep prices artificially high
HOUSE PRICE INDEX
Posted by Kumar A, dubai, united arab emirates on Tuesday 6 October 2009 at 23:34 UAE time
RERA is bent on doing something for someone. But like its rent index ( The benchmark for failed indexes) this is not going to take off. That is why only 5 persons commented on this article which was put on the website more than 12 hours ago. The article and the contents dont mean anything to a majority.
Also the promised rent index in sep 09 has still not been seen by anyone and was full of ERRORs the first time. instead of correcting the past errors why create a new index with no statistics to back it up other than the inflated values of 2008.
Posted by Kumar A, dubai, united arab emirates on Tuesday 6 October 2009 at 23:34 UAE time
RERA is bent on doing something for someone. But like its rent index ( The benchmark for failed indexes) this is not going to take off. That is why only 5 persons commented on this article which was put on the website more than 12 hours ago. The article and the contents dont mean anything to a majority.
Also the promised rent index in sep 09 has still not been seen by anyone and was full of ERRORs the first time. instead of correcting the past errors why create a new index with no statistics to back it up other than the inflated values of 2008.
Click here to post a comment
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST REAL ESTATE
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST REAL ESTATE
LATEST MIDDLE EAST BUSINESS NEWS
SHARE PRICE CHECK
RELATED STORIES
Cityscape 2009
3 stories- Almost 70% think Cityscape will be a flop - poll
8 Oct '09 | News - Limitless offers 10% of customers help in land deals
8 Oct '09 | News - Aldar says Abu Dhabi still key market for future
7 Oct '09 | News
Real Estate Regulatory Authority
| 33 stories- Poll finds over 46% against RERA house price index
13 Oct '09 | News - Dubai's RERA plans open days to meet with customers
16 Jun '09 | News
Mobile
