REIDIN.com , the leading real estate information company covering emerging markets has today announced the June figures of its Sales Price Index for Dubai (SPID) part of its INDEXFocus -UAE product, an online database of proprietary real estate indices for UAE designed to accurately track price fluctuations in the residential real estate market. INDEXFocus is a service dedicated to providing real estate indicies and other benchmark data. Sales Price Index for Dubai (SPID) is launched by REIDIN.com based on the actual transactions in an exclusive partnership with the Real Estate Regulatory Agency (RERA) and the Dubai Land Department (DLD). The service provides the Dubai market with a series of indices and data sets that can help improve transparency across the market and help real estate professionals to benchmark and analyse residential price trends.
“We are very pleased to anounce this month’s figures, which show the consisitent dynamism of the Dubai real estate sector. What we see as numbers highlighted in our indices are more of what is expected in a regular summer. We believe the slight drop in the last two months is moreover a reflection of the seasonal adjustments rather than a trend.” Said Ahmet Kayhan, CEO, REIDIN.com.
According to the data released for the month of June 2010, the All Residential Sales Price Index for Dubai (SPID) showed a decrease of 0.35% between May 2010 and June 2010, compared to a decrease of 1.23% for the coresponding period between April and May 2010. In the same period, apartment prices increased by 0.71% compared to a decrease of 2.88% last month, while villa prices decreased 2.18% compared to an increase of 0.63% in the month of May. Year-on-year, this reflects a slight increase of 0.26% over June 2009.