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

The Dubai Residential Property Sales Price Index for all residentials increased by 2.6 points, from 258.7 to 261.3, which represents an increase of 1.03 per cent in November 2015. On the other hand, prices decreased 11.5 per cent year-on-year (y-o-y), according to Reidin.com, a real estate information company focusing on emerging markets.

Apartment sales prices too registered an increase in November. The prices increased 1.6 per cent m-o-m but were down 11.6 per cent y-o-y.

Residential property prices in Dubai rental market increased by 0.2 points, from 101.7 to 101.9, which represents an increase of 0.26 per cent in November 2015. On the other hand, rental prices decreased 2.3 per cent y-o-y, it stated.

Reidin.com said apartment rental prices registered an increase in November 2015. Prices increased 0.47 per cent m-o-m but decreased 1.9 per cent y-o-y.

Villa rental prices registered a decrease in November 2015. Prices decreased 0.88 per cent m-o-m and also decreased 4.0 per cent y-o-y, it added.

On the Abu Dhabi scenario, the residential property price index for all residentials increased by 0.7 points, from 82.5 to 83.2, up 0.85 per cent in November. On the other hand, prices decreased 2.1 per cent y-o-y.

Apartment sales prices registered an increase in November 2015. Prices increased 1.03 per cent m-o-m but decreased 3.9 per cent y-o-y.

Villa sales prices registered an increase in November 2015. Prices increased 0.53 per cent m-o-m and also increased 0.2 per cent y-o-y, said the Reidin.com in its report.

Residential property prices in Abu Dhabi rental market decreased by 0.5 points, from 65.8 to 65.3, which represents a decrease of 0.64 per cent in November 2015. On the other hand, prices decreased 3.5 per cent y-o-y.

Apartment rental prices registered a decrease in November 2015. Prices decreased 1.32 per cent m-o-m and also decreased 2.7 per cent y-o-y, said the report.

Villa rental prices registered an increase in November 2015. Prices increased 0.21 per cent m-o-m but decreased 3.4 per cent y-o-y, it added.-TradeArabia News Service