Dubai property prices up 3.17pc in Sept
Dubai, October 31, 2013
Residential property prices in Dubai performed well in September with an increase of 3.17 per cent compared to August. The prices were up 19.8pc compared to September 2012, said a report.
Residential apartment sales prices in the city registered an increase of 3.16 per cent in September compared to the previous month and 21.7 per cent year on year (YoY), according to the REIDIN.com sales price indices.
Villa sales prices also registered an increase of 3.22 per cent month-on month (MoM) and 13.4 per cent year-on-year, it said.
Residential rental rates in Dubai increased by 1.90 points, from 85.30 to 87.20, which represents an increase of 2.19 per cent MoM in September. On the other hand, rental prices increased 15.7pc YoY, the report said.
Apartment rental prices showed an increase of 2.34pc MoM and 16.2pc YoY. Villa rental prices were up 1.45pc MoM and 13.5pc YoY.
The Abu Dhabi Residential property price index for all residential increased by 1.00 points, from 72.60 to 73.60, which represents an increase of 1.33pc MoM. Prices increased 16.20pc YoY.
Apartment sales prices registered an increase of 1.66pc MoM and 18.3pc YoY. Villa sales prices registered a decrease of 0.25pc MoM, but increased 12.7pc YoY.
Residential property prices in Abu Dhabi rental market increased by 0.20 points, from 62.00 to 62.20, which represents an increase of 0.27pc MoM in September. On the other hand, prices increased 2.3pc YoY.
Apartment rental prices increased 0.97pc in September compared to August and increased 6.2pc compared to September 2012. Villa rental prices were up 0.12pc, compared to August and 2.9pc compared to September 2012, the report said. - TradeArabia News Service