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UAE residential property prices down in December

DUBAI, January 31, 2016

The residential property sales price across the major UAE markets of Dubai and Abu Dhabi fell in December with both the apartment and villa rentals plunging on a month-on-month (m-o-m) basis, according to Reidin, a real estate information company focusing on emerging markets.

On the Dubai scenario, the report said the residential property sales price index for all residentials decreased by 0.3 points, from 261.3 to 261.0, which represents a decrease of 0.14 per cent last month. On the other hand, prices decreased 11 per cent y-o-y, it stated.

Apartment sales prices registered a decrease in December 2015. Prices decreased 0.14 per cent m-o-m and also decreased 11.1 per cent y-o-y, it added.

According to the report, the villa sales prices registered a decrease in December. Prices decreased 0.10 per cent m-o-m and also decreased 10.9 per cent y-o-y, it said.

Residential property prices in Abu Dhabi rental market decreased by 0.9 points, from 65.3 to 64.4, which represents a decrease of 1.36 per cent in December 2015. On the other hand, prices decreased 3.8 per cent y-o-y.

The residential property prices in Dubai rental market increased by 1.0 points, from 101.9 to 100.9, which represents a decrease of 1.03 per cent in December 2015. On the other hand, rental prices decreased 3.2 per cent y-o-y, said the report.

Apartment rental prices registered a decrease for the month, while the rental prices for villas posted a drop in December 2015. The prices were down 0.64 per cent m-o-m and also decreased 4.6 per cent y-o-y.

On the Abu Dhabi sceanrio, the Reidin report said the residential property price index for all residential increased by 0.3 points, from 83.2 to 83.5, which represents an increase of 0.42 per cent in December. However, on a y-o-y basis, it decreased 0.8 per cent.

Apartment sales prices registered an increase in December 2015. Prices increased 0.20 per cent m-o-m but decreased 3.4 per cent y-o-y.

Villa sales prices registered an increase in December 2015. Prices increased 0.70 per cent m-o-m and also increased 2.4 per cent y-o-y, stated the report.

According to Reidin, the residential property prices in Abu Dhabi rental market decreased by 0.9 points, from 65.3 to 64.4, which represents a decrease of 1.36 per cent in December 2015. On the other hand, prices decreased 3.8 per cent y-o-y.

Apartment rental prices registered a decrease in December 2015. Prices decreased 1.32 per cent m-o-m and also decreased 3.2 per cent y-o-y, it stated.

Villa rental prices registered a decreased in December 2015. Prices decreased 1.48 per cent m-o-m and also decreased 3.6 per cent y-o-y, the report added.-TradeArabia News Service




Tags: UAE | December | Residential property |

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