The House Price Dynamics and the Macro-Economy: an Empirical Perspective of UAE

Abstract

Objective: The paper aims to examine house price drivers in Dubai, addressing the effect of internal and external factors afecting house prices
 
 Design/methedology/approach: Using the Hedonic price model, the study examined the implications of house size (space), the availability of bathrooms, bedrooms, waterfronts, and pool and cell phone towers within residential area as auxiliary determinant factors to housing price within developed cities by using the Hedonic Modelling. Also, study highlight the effect of the green strategies that been followed by developer on the housing prices.
 
 Findings: The study is expected to reveal results with significant ramifications for researchers, practitioners and policy makers. From a policy perspective, there is an obvious interest in understanding whether the price of housing is affected by different attributes differently along its distribution.
 
 Research limitations/implications: The data used in this study could be limited, and depends on information to be provided by the Dubai Land Department. There is a room for future research to include more data (such as on other house attributes such as house condition, plot numbers and configuration).