Dubai residential market reference
M&M Real Estate reports provide historical Dubai-wide price readings. The table sets out selected reported readings, explains what they measure and shows how to use them when assessing a Dubai purchase.
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Dubai property price index: published readings
The table combines a Dynamic Price Index level with average price-per-square-foot figures and monthly changes. Treat these as historical context, not as one uninterrupted index series.
| Reporting period | Reported movement | Price measure | Source report |
|---|---|---|---|
| September 2023 | Dynamic Price Index at 172.04, up 1.35% month-on-month and 17.74% year-on-year. | Average AED 1,232 per sq ft. | M&M September 2023 report, which attributes the index reading to Property Monitor data. |
| October 2023 | Average property prices rose 0.14% for the month. | Average AED 1,234 per sq ft. | M&M October 2023 report. |
| November 2023 | Reported price increase of 1.17% month-on-month. | Average AED 1,271 per sq ft. | M&M November 2023 report. |
| December 2023 | Prices rose 0.8% for the month; reported growth for 2023 was 16.4%. | Average AED 1,281 per sq ft. | M&M December 2023 report. |
| January 2024 | Average price increased 0.19% month-on-month. | Average AED 1,284 per sq ft. | M&M January 2024 report. |
These are historical report readings, not a live index. Each figure has a reporting period and a named metric.
How to read the chart and its limits
A Dubai property price index tracks price movement against an index reference base. Its level is a relative measure, not a currency price: the September 2023 Dynamic Price Index reading of 172.04, reported by M&M Real Estate using Property Monitor data, does not mean a home cost AED 172.04 per square foot. A percentage change describes movement over the stated comparison period.
A reference base defines what an index level is measured against. Separate apartment and villa trends require matched series for each property type, while a continuous series is needed to assess change from 2020.
Average price per square foot and an index answer different questions. The average is the total price measure expressed against floor area for properties included in that report. It can shift when the mix of homes sold changes, even when comparable homes have a different underlying movement. An index aims to track movement over time; where a series uses a hedonic price methodology, hedonic regression can account for differences in property characteristics. Read each figure according to its named metric.
Practical reading: compare like with like. Keep the same index series, frequency, property type and reference base when reviewing monthly, quarterly or yearly movement. Treat an emirate-wide reading as context, then assess the specific community, unit type and project separately.
Apartment, villa and townhouse comparisons
A Dubai House Price Index headline cannot, by itself, tell an investor whether a particular villa community moved in line with apartments across the emirate.
For an off-plan shortlist, compare like-for-like evidence: the same property type, location, completion status and price basis. Keep townhouse data distinct from villa figures where a report groups them separately. An area-level result can differ from the Dubai-wide direction, and an individual home can differ again because of its layout, condition, outlook and building or community features.
Price movement, transaction activity and off-plan sales
Price movement and transaction volume measure different parts of the market. Transaction counts describe market activity, not price movement, and do not show that every property type changed by the same amount. See the September 2023 report on prices and transaction activity for that period’s detail.
Off-plan and ready-property sales can also have different weights in monthly activity. A change in the proportion of newly launched units, resales or higher-priced homes can affect a market average. The M&M August report discusses off-plan sales, while its September-to-January reports provide the price readings in the table. A consistent off-plan-versus-ready price index is needed to compare those segments directly.
For off-plan purchases, M&M’s guide explains payment plans, escrow, Oqood registration, legal protections and risk assessment. Read the Dubai off-plan buying guide alongside the price data, then assess the payment schedule and project details for the property under consideration.
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Reports with dated market readings
M&M’s monthly Dubai updates cover price changes, the Dynamic Price Index, transactions and price tiers. Compare each figure with its stated reporting period and metric.
Off-plan and developer research
M&M’s off-plan guide covers the buying process and payment protections. Its developer assessment considers delivery track record, financial standing, post-handover service and fit with the client’s profile. Explore Dubai developer profiles as part of project research.
Monthly, quarterly and yearly views are useful for different decisions: monthly readings show short-term movement, while longer periods put that movement in context. Use the relevant market series for property analysis, then compare it with the property and developer information available through M&M.
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Dubai market data: common questions
Are Dubai real estate prices dropping?
The historical readings shown here report monthly increases from September 2023 through January 2024. They do not establish the current direction of prices, and the movement of an individual area or property type can differ from the Dubai-wide figures.
Is there a Dubai real estate index?
Yes. The Dynamic Price Index is one measure of Dubai residential price movement. Use the reporting period to understand when a reading applies.
How is a Dubai residential sales price index calculated?
An index expresses price movement relative to a reference base and a defined set of transactions. A hedonic price methodology can adjust for property characteristics, but the M&M report readings here do not specify a complete calculation method or reference-base definition.
How often is the Dubai property price index updated?
Check the month and metric named in each report before comparing two readings.
Does the index provide separate readings for apartments and villas?
No. A Dubai-wide reading cannot be assigned to both property types as if they moved identically.
What is the difference between an index and average price per square foot?
An index is a relative measure; an average price per square foot is a currency amount per unit of floor area.
How do sales volumes and off-plan activity relate to price movements?
Compare transaction volumes with like-for-like price readings; rising sales alone do not establish price growth.
Where can I view historical Dubai property index data?
M&M published Dubai market reports for September, October, November and December 2023, each covering its stated period and measures.
Put the market reading against your shortlist
Use the reported index movement as broad context, then compare the price, property type, location, developer and payment schedule of each shortlisted option.
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Figures are past data, this article is general information and not tax, legal or financial advice, and returns are not guaranteed.
