UAE residential property prices edge up in May
Dubai, June 26, 2013
Residential property prices in Dubai housing market increased 2.01 per cent in May, while those in Abu Dhabi rose 1.28 per cent, marking year-on-year increases of 16.1 per cent and 6.2 per cent, respectively, said a report.
The Dubai Residential Property Sales Index of Reidin.com, a leading real estate information company, for all residential increased by 4.2 points, from 208.3 to 212.5.
Apartment sales prices registered an increase in May, said the UAE Residential Property Indices May 2013, prepare by Reidin.com.
Prices increased 2.13 per cent month-on-month and 17.3 per cent year-on-year.
Villa sales prices show relatively high nominal growth on a month-on-month basis in May. Prices increased 1.56 per cent month-on-month and 12.2 per cent year-on-year.
Dubai residential properties rent price trends
Residential property prices in Dubai rental market increased by 1.43 points, from 79.37 to 80.80, which represents an increase of 1.80 per cent month-on-month in May. On the other hand, rental prices increase 11.9 per cent year-on-year.
Apartment rental prices show an increase on a month-on-month basis in May 2013. Prices increased 2.02 per cent month-on-month and 11.6 per cent year-on-year.
Villa rental prices registered an increase in May 2013. Prices increased 0.85 per cent month-on-month and 13.4 per cent year-on-year.
Abu Dhabi residential properties sales price trends
The Abu Dhabi Residential Property Price Index for all residential increased by 0.88 points, from 68.52 to 69.40, which represents an increase of 1.28 per cent month-on-month in May 2013. On the other hand, prices increased 6.2 per cent year-on-year.
Apartment sales prices registered an increase in May 2013. Prices increased 2.04 per cent month-on-month and 5.21 per cent year-on-year.
Villa sales prices registered an increase in May 2013. Prices increased 0.53 per cent month-on-month and 7.27 per cent year-on-year.
Abu Dhabi residential properties rent price trends
Residential property prices in Abu Dhabi rental market increased by 0.22 points, from 61.98 to 62.20, which represents an increase of 0.35 per cent month-on-month in May 2013. On the other hand, prices decreased 0.29 per cent year-on-year.
Apartment rental prices increased 0.35 per cent in May compared to April and also increased 3.97 per cent compared to May 2012.
Villa rental prices increased 0.49 per cent in May compared to April but decreased 1.80 per cent compared to May 2012. – TradeArabia News Service
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