According to a new price index for real estate in Dubai, in the fourth quarter of 2009, compared with the third, real estate prices in the emirate rose by 0.7%. New sales price index for real estate in Dubai (SPID) is compiled by experts Portal REIDIN.com together with the Agency for Regulation of the real estate sector in Dubai (REPA) and the Department of Land Resources of Dubai. Its mission is to provide the market a set of indicators and data that will help make the market work more transparent and allow experts in real estate more accurately assess and analyze trends in housing prices. According to the latest data, in the fourth quarter of villas rose by 2.6%, while compared to the last quarter of 2008, although in 2009 the prices of Dubai property, as a whole, fell by 19.7%. The index takes into account market conditions in several areas among the 10 major areas of Dubai, including the Palm Jumeirah, where real estate has risen by 2% qoq. At the same time, quarterly indicators in Emirates Hills real estate value and Jumeirah Lake Towers for the same period fell by 19%. On this Site www.propertywire.com
