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Dubai's residential property sales price down 8.27pc

DUBAI, December 30, 2018

The Dubai Residential Property Sales Price Index for all residential units decreased by 2.3 points, from 232.1 to 229.8, in November, thus registering a drop of 1.02 per cent over last year. Prices also fell 8.27 per cent year-on-year.

Apartment sales prices too registered a decrease last month. The prices fell 1.06 per cent month-on-month and also decreased 7.91 per cent y-o-y, said a statement from Reidin.com, a real estate information company focusing on emerging markets.

The villa sales prices too registered a decrease in November, down 0.76 per cent m-o-m and 9.39 per cent y-o-y, it stated.

The Dubai Residential Property Rental Price Index for all residential decreased by 1.0 points, from 81.3 to 80.3, which represents a decrease of 1.03 per cent in November. Prices also decreased 10.05 per cent y-o-y.

Apartment rent prices too registered a sharp fall in November. The prices fell 1.14 per cent m-o-m and 10.39 per cent y-o-y. The villa rent prices registered a decrease last month, falling 0.30 per cent m-o-m and decreasing 7.32 per cent y-o-y.

On the Abu Dhabi market, Reidin said the residential property sales price index for all residential decreased by 0.7 points, from 86.9 to 86.2, which represents a decrease of 0.84 per cent. On the other hand, prices decreased 6.39 per cent y-o-y.

Apartment sales prices registered a decrease in November 2018. Prices decreased 0.69 per cent m-o-m and also decreased 7.02 per cent y-o-y.

Villa sales prices registered a decrease in November 2018. Prices decreased 1.32 per cent m-o-m and also decreased 4.36 per cent y-o-y, it stated.

The Abu Dhabi Residential Property Rental Price Index for all residential decreased by 0.4 points, from 81.0 to 80.6, which represents a decrease of 0.51 per cent in November 2018. Prices also decreased 10.49 per cent y-o-y.

Apartment rent prices registered a decrease in November 2018. Prices decreased 0.42 per cent m-o-m and also decreased 10.78 per cent y-o-y, said Reidin in its report.

Villa rent prices registered a decrease in November 2018. Prices decreased 0.76 per cent m-o-m and also decreased 9.52 per cent y-o-y, it stated.

On the northern emirates' scenario, Reidin said the Ajman apartment sales prices registered an increase in November. Prices increased 1.87 per cent m-o-m but decreased 10.55 per cent y-o-y.

Meanwhile, in Ras Al Khaimah the apartment sales prices registered a decline in November 2018. Prices decreased 1.47 per cent and also decreased 4.72 per cent y-o-y.

Sharjah apartment sales prices registered a decrease in November 2018. Prices decreased 2.24 per cent m-o-m but increased 0.08 per cent y-o-y, said the statement from Reidin.

Ajman apartment rent prices registered a decrease in November 2018. Prices decreased 2.61 per cent m-o-m and also decreased 13.46 per cent y-o-y, it stated.

Ras Al Khaimah apartment rent prices registered a decrease in November 2018. Prices decreased 0.65 per cent m-o-m and also decreased 9.00 per cent y-o-y.

Sharjah apartment rent prices registered a decrease in November 2018. Prices decreased 2.33 per cent m-o-m and also decreased 10.25 per cent y-o-y, it added.-TradeArabia News Service




Tags: Dubai | villa | apartment | Reidin | Residential property |

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