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03-Jan-2016

REIDIN November 2015: Overall better month for UAE property market     

REIDIN released its Dubai and Abu Dhabi Residential Property Price Indices for November 2015. In Dubai, the general index covering all sold residential units rose 1.0% M-o-M and fell 11.5% Y-o-Y (-2.4% M-o-M and -13.1% Y-o-Y in October), with apartment sales prices increasing 1.6% M-o-M and falling 11.6% Y-o-Y (-2.4% M-o-M and -13.5% Y-o-Y October), and sales prices for villas falling 1.3% M-o-M and 11.1% Y-o-Y (-2.6% M-o-M and -11.3% Y-o-Y October). As for the rental market, prices inched up 0.3% M-o-M and dropped 2.3% Y-o-Y (-0.3% M-o-M and -3.2% Y-o-Y in October), with apartment rental prices rising 0.5% M-o-M, but dropping 1.9% Y-o-Y (-0.3% M-o-M and -3.1% Y-o-Y in October), while rental prices for villas were down 0.9% M-o-M and 4.0% Y-o-Y (-0.2% M-o-M and -3.5% Y-o-Y in October).   In Abu Dhabi, the general index for all sold residential units increased 0.9% M-o-M and dropped 2.1% Y-o-Y (+0.4% M-o-M, -2.0% Y-o-Y in October), with apartment sales prices rising 1.0% M-o-M and falling 3.9% Y-o-Y (-0.4% M-o-M and -4.7% Y-o-Y October), and sales prices for villas rising 0.5% M-o-M and 0.2% Y-o-Y (+1.5% M-o-M and +1.2% Y-o-Y in October). As for the rental market, prices fell 0.6% M-o-M and 3.5% Y-o-Y (-0.1% M-o-M, -2.0% Y-o-Y in October), with apartment rental prices falling 1.3% M-o-M and 2.7% Y-o-Y (-0.3% M-o-M and -2.7% Y-o-Y in October), and rental prices for villas increasing 0.2% M-o-M and dropping 3.4% Y-o-Y (+0.4% M-o-M, -0.7% Y-o-Y in October). (REIDIN)

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