Dubai

Real estate information company Reidin.com, which is covering emerging markets, yesterday announced the figures.

Spid, a part of its IndexFocus-UAE product, is an online database of proprietary real estate indices in the UAE.

It is designed to accurately track price fluctuations in the residential real estate market.

"We are very pleased to announce this month's figures, which show the consistent 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 Ahmad Kayhan, CEO of Reidin.com.

According to the data released for June, the All Residential Spid showed a decrease of 0.35 per cent between May and last month compared to a decrease of 1.23 per cent between April and May.

In the same period, apartment prices increased by 0.71 per cent compared to a decrease of 2.88 per cent last month, while villa prices decreased 2.18 per cent compared to an increase of 0.63 per cent in May. Year-on-year, this reflects a slight increase of 0.26 per cent over June 2009.

Actual transactions

The Spid was launched by Reidin.com based on the actual transactions in an exclusive partnership with the Real Estate Regulatory Agency and the Dubai Land Department.

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.