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Dubai real estate .... sees growth in residential property prices.

UAE residential markets post steady growth in Feb

DUBAI, April 1, 2015

The property rental rates in both Dubai and Abu Dhabi residential markets witnessed steady growth in February increasing 7.7 per cent and 2.2 per cent year-on-year (y-o-y) respectively, said a report.

The villa sales market too has registered steady growth in the UAE with the prices in Dubai posting a 6.2 per cent y-o-y growth and 1.1 per cent in Abu Dhabi, stated Reidin.com, a real estate information company focusing on emerging markets.

However, the apartment sales prices registered a month-on-month decrease in both these markets in February, according to Reidin 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.
 
On the Dubai residential properties sales price trends, Spid said the sales price index for all residential units decreased by 3.4 points, from 288.9 to 285.5, which represents a decrease of 1.18 per cent in February 2015. On the other hand, prices increased 6.6 per cent y-o-y.

On the apartment sales prices, Spid said Dubai had registered a decrease in February. Prices dropped 1.86 per cent m-o-m but increased 6.7 per cent y-o-y, while the villa sales prices registered an increase in February 2015.

The residential property prices in Dubai rental market increased by 0.8 points, from 104.9 to 104.1, which represents a decrease of 0.76 per cent in February 2015.

The apartment rental prices showed a decrease on a m-o-m basis in February but increased 8.8 per cent y-o-y, while the villa rental prices registered an increase on a m-o-m basis in February, stated Spid.

On the Abu Dhabi residential properties sales price trends, Reidin said the index for all residential units decreased by 0.7 points, from 84 to 83.3, which represents a decrease of 0.83 per cent. On the other hand, prices increased 1.3 per cent y-o-y.

The apartment sales prices fell 0.89 per cent m-o-m and 0.1 per cent y-o-y, while the villa sales prices registered a drop in February. The prices decreased 0.75 per cent m-o-m but rose 1.1 per cent y-o-y, it stated.
 
On the residential properties rent price trends for the UAE capital, Spid said residential property prices in Abu Dhabi rental market decreased by 0.7 points, from 67 to 66.3, the report added.-TradeArabia News Service




Tags: UAE | abu dhabi | Dubai | residential |

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