The residential property sales price across the major UAE markets of Dubai and Abu Dhabi registered a slight drop in September with both the apartment and villa rentals hitting a new low on a month-on-month (m-o-m) basis, said a report.

The Dubai Residential Property Sales Price Index for all residential decreased by 0.3 points, from 265.4 to 265.1, which represents a decrease of 0.12 per cent in September 2015. On the other hand, prices decreased 10.4 per cent year-on-year (y-o-y), according to Reidin.com, a real estate information company focusing on emerging markets.

The rental market decreased by 0.3 points, from 102.3 to 102.0, which represents an increase of 0.30 per cent in September 2015. On the other hand, rental prices decreased 2.4 per cent y-o-y, said the report.

According to Reidin, the apartment sales prices registered a decrease in September. Prices also fell 0.12 per cent m-o-m and 10.9 per cent y-o-y.

Villa sales prices too registered a decrease in September, it stated.

On the apartment scenario, Reidin said the rental prices showed a decrease on a m-o-m basis. The prices fell 0.34 per cent m-o-m and 2.4 per cent y-o-y.

The Abu Dhabi Residential Property Price Index for all residential decreased by 0.2 points, from 82.4 to 82.2, which represents a decrease of 0.21 per cent in September 2015. On the other hand, prices decreased three per cent y-o-y, stated Reidin in its report.

The apartment sales prices in the UAE capital registered a decline in September. The prices fell 0.95 per cent m-o-m and 4.3 per cent y-o-y.

However, the villa sales prices in Abu Dhabi registered a m-o-m increase in September with the prices up 0.63 per cent. The rental prices too registered an jump increased 0.07 per cent m-o-m.

Residential property prices in Abu Dhabi rental market decreased by 0.2 points, from 66.0 to 65.8, which represents a decrease of 0.23 per cent in September 2015. On the other hand, prices decreased 1.1 per cent y-o-y.

The apartment rental prices registered a decrease in September, said Reidin in its report. The prices fell 0.42 per cent m-o-m and 1.7 per cent y-o-y, it added.-TradeArabia News Service