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Dubai .... sharp rise in both apartment and villa rental prices.

Dubai residential property prices up 24.2pc

DUBAI, November 30, 2014

The residential property prices in Dubai, UAE, posted solid growth in October with a 24.2 per cent year-on-year (y-o-y) increase over the same period last year, said a report.

The Dubai Residential Property Sales Price Index for all residential property increased by 1.6 points, from 295.9 to 297.5, which represents an increase of 0.54 per cent in October, according to Reidin.com sales price indices (Spid).
 
A reliable and consistent benchmark of residential property prices in Dubai, Spid measures the average change in house prices in certain districts and communities in Dubai.
 
The apartment sales prices in the emirate increased 26.9 per cent y-o-y while the villa sales prices posted an annual growth of 14.4 per cent, said the report.

According to Reidin, the residential property prices in Dubai's rental market increased by 0.5 points, from 104.5 to 105, which represents an increase of 0.41 per cent in October 2014. On the other hand, rental prices increased 17.8 per cent y-o-y.

The apartment rental prices increased 0.43 per cent month-on-month (m-o-m) and increased 20.2 per cent y-o-y. The villa rental prices too posted a jump increasing 0.29 per cent m-o-m and 6.6 per cent y-o-y.
 
On the Abu Dhabi's residential sector, Reidin said the scenario was slightly different with the residential property price index for all residential decreasing by 0.5 points in October from 84.7 to 84.2, down 0.54 per cent. On the other hand, the prices increased 12.3 per cent y-o-y.

The apartment sales prices in the UAE capital too witnessed a drop last month. The prices decreased 0.08 per cent m-o-m but increased 10.9 per cent y-o-y, stated the Reidin report.

The villa sales prices too registered a decrease in October. Prices decreased 1.01 per cent m-o-m but increased 10.5 per cent y-o-y.
 
The residential property prices in Abu Dhabi rental market increased by 0.6 points, from 66.5 to 67.1, thus representing an increase of 0.90 per cent in October. On the other hand, prices increased 8.1 per cent y-o-y, said the property expert.

According to Reidin, the apartment rental prices in the UAE capital posted a 0.73 per cent m-o-m increase and a 1.5 per cent growth over the same period last year, while villa rental prices grew 1.05 per cent on a m-o-m basis and increased 11.5 per cent y-o-y, it added.-TradeArabia News Service




Tags: Dubai | property | residential |

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