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Dubai Chamber of Commerce calls for property price index |
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7/29/2006 9:08:40 AM |
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Dubai property and finance markets are inextricably linked, more so than previously thought, according to a new study by Dubai Chamber of Commerce and Industry (DCCI) that has called for a real estate price index for an appraisal of the Dubai economy.
DCCI economist Eisa Abdelgalil said a real estate price index is common among developed economies and would be a crucial tool to measure Dubai’s most important sector. The real estate price index would help investors assess and value real estate, both residential and commercial, in addition to providing key data for real estate mortgage, management, taxation, and assist the government with monetary policy. Experts opine that the index would shed further light on inflation and the role of the real estate market, home to highly fluctuating prices. |
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