Dubai House Prices and Macroeconomic Fluctuations: A Time Series Analysis

Dubai House Prices and Macroeconomic Fluctuations: A Time Series Analysis

This paper aims to examine the relationship between selected macroeconomic indicators with the real estate industry (house prices index as proxy) of Dubai, United Arab Emirates. Time series regression has been applied to achieve the objectives using monthly data from 2008-2017 collected from Thomson...

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Veröffentlicht in:Pacific Business Review International 2020-07, Vol.13 (1)
Hauptverfasser: Ahmed, Farhan, SandhiaMaheshwari, Sajid Hussain Mirani
Format: Artikel
Sprache:eng
Schlagworte:
Foreign exchange rates
Housing prices
Investors
Macroeconomics
Petroleum industry
Sales
Time series
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Zusammenfassung:This paper aims to examine the relationship between selected macroeconomic indicators with the real estate industry (house prices index as proxy) of Dubai, United Arab Emirates. Time series regression has been applied to achieve the objectives using monthly data from 2008-2017 collected from Thomson Reuters DataStream. Findings show the negative impact of the exchange rate (ER) and oil prices (COP) on house price index (HPI) and positive impact of inflation (CPI) and money supply (M2). To the best of authors’ knowledge, the real estate market in Dubai has received less attention from researchers.
ISSN:0974-438X