REIDIN released its Dubai and Abu Dhabi Residential Property Price Indices for May 2016. In Dubai, the general index covering all sold residential units rose 1.0% M-o-M and dropped 5.3% Y-o-Y (-0.5% M-o-M, -7.5% Y-o-Y in April), with apartment sales prices registering a 1.1% rise M-o-M and a 5.2% drop Y-o-Y (-0.8% M-o-M, -7.3% Y-o-Y in April), and sales prices for villas rising 0.6% M-o-M and dropping 6.0% Y-o-Y (+0.4% M-o-M, -8.2% Y-o-Y in April). As for the rental market, rates went up by 0.3% M-o-M and down 3.6% Y-o-Y (+0.1% M-o-M, -4.2% Y-o-Y in April), with apartment rental prices rising 0.5% M-o-M and dropping by 3.0% Y-o-Y (+0.1% M-o-M, -3.9% Y-o-Y in April), while rental prices for villas fell 0.5% M-o-M and 6.4% Y-o-Y (-0.5% M-o-M, -6.3% Y-o-Y in April).   In Abu Dhabi, the general index for all sold residential units dropped by 0.2% M-o-M and increased by 1.3% Y-o-Y (-0.7% M-o-M, +1.3% Y-o-Y in April), with apartment sales prices dropping 0.3% M-o-M and 0.7% Y-o-Y (-0.6% M-o-M, -0.8% Y-o-Y in April), and sales prices for villas increasing 0.3% M-o-M and 3.2% Y-o-Y (-1.1% M-o-M, +3.0% Y-o-Y in April). As for the rental market, prices dropped by 0.7% M-o-M and 1.5% Y-o-Y (-0.1% M-o-M, -0.4% Y-o-Y in April), with apartment rental prices dropping 0.9% M-o-M and 2.2% Y-o-Y (-0.1% M-o-M, -1.2% Y-o-Y in April), and rental prices for villas dropping 0.2% M-o-M and 0.1% Y-o-Y (roughly unchanged M-o-M, +1.0% Y-o-Y in April). (REIDIN)