• Slow start to the year for property prices and rents in UAE

    Slow start to the year for property prices and rents in UAE

    Thursday, 03 March 2016
    Image Residential property prices and rents have fallen in Dubai at the start of 2016, with the latest index figures indicating a falling or stagnant market.

    Overall property prices rose just 0.09% in January and were down 9.6% year on year, according to the data from the latest ReidIn index.

    A breakdown of the figures shows that apartment prices fell 0.19% month on month and 9.7% year on year while villa prices increased 1.23% but are down 8.9% year on year.

    Overall property rental values fell by 1.57% and were down 5.3% year on year. Apartment rents fell 1.67% month on month and 5.2% year on year while villa rents were down 0.9% month on month and 5.9% year on year.

    In neighbouring Abu Dhabi Residential the property markets are also more or less stagnant with the overall property price index up by 0.62% month on month and by 0.1% year on year.

    Apartment prices increased 0.89% month on month but were down 2.6% year on year while villa prices increased 0.13% month on month and 3.1% year on year.

    The rental market in Abu Dhabi was slightly more buoyant and values increased by 2.11% in January compared to December but are down 1.8% compared to January 2015.

    A breakdown of the figures show that apartment rents increased 2.3 month on month but were down 0.9% year on year while villa rents increased 1.86% month on month but were down 1.6% year on year.

     


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