Real time property prices index launched in Dubai

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The first ever real time guide to property prices in Dubai has been launched, in a joint venture between Arabian Business and Better Homes.

The Dubai Property Index features live prices based on up to the minute data from the region’s biggest estate agent Better Homes, with the prices – for both sales and rentals – reflecting actual transactions.

The index launched today features seven key areas of the emirate -  Downtown Dubai, Dubai Investment Park, Dubai Marina, Jumeirah Lake Towers, Jumeriah Village circle, The Greens and The Palm Jumeirah.

TO SEE THE INDEX CLICK HERE

The latest prices are shown for all types of properties available in those areas, including the latest monthly changes.

Better Homes CEO Ryan Mahoney said: “This is the first time that anyone in Dubai – whether buying or renting  - can get an accurate, up to the minute guide, or prices in the key areas of the emirate. Nothing else is as close to real time prices. Over the coming months, we will be hoping to roll this out across other areas of Dubai, and then eventually other cities.”

Shane McGinley, Executive Editor of Arabian Business added: “So far anyone trying to find out true property prices  has had to make a judgment based on listed prices, which as we all know can be very different to the real prices. This data from Better Homes reflects what people are actually paying rather than what landlords and sellers are asking – right now, we are confident there is no better guide to prices in the market.”

TO SEE THE INDEX CLICK HERE

 

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Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

Posted by: lima

The article says that the index reflects what people are actually paying, not listed prices. But when you click on the index methodology link, it says based on Better Homes listed prices. Fail.

Posted by: Property Consultant

Cluttons and Bloomberg have long had a Dubai property index. RERA and the Land Department however would be the only ones able to produce a truly accurate index that reflected the market. Current information provided by the LD is often skewed as the transaction information lacks details which would enable comparison or are based on registration dates, not sales dates.

Posted by: RayC

I checked the price of 3B/R Villa in Arabian Ranches being listed at AED 3.65Million. This is totally incorrect. Probably they are stating price of ALMA types. The 3R/B Saheel villas are selling between AED 4.6-4.8 Mill. The Alvorada 3B/R (Type A1&A2) are selling between AED 4.8 to 5.6 Mill depending on plot size & landscaping/pool/location etc. So this "Index" data is meaningless.

C'mon Ryan you can do better & I thing Arabian Business being such an informative & dynamic news portal should reply on better sources. No offense meant by provide something that is correct, reliable & one which reflects the facts.

Posted by: desert dream

What on earth is this? I am a property bull but why do i need real time property rates? Is the property market now a stock market with a ticker tape to flash live rates? Firstly the rates are wrong. The price for a studio is not 1.2 mil in downtown I have bought something for 900k last week.

Posted by: douni

I personally believe that data from better homes cannot be presented as property index for the entire dubai market because compared to other real estate agencies in dubai better homes prices r always the highest, plus you cannot categorize by area it has to be by tower or sub communities because even that makes a huge difference in pricing the property. So i don't find it to be a very reliable source in getting ur market price.

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