The sale prices of residential properties in Dubai, UAE, decreased by 2.8 per cent year-on-year (y-o-y) during April, a report said.

The Dubai Residential Property Sales Price Index for all residential decreased by 3.0 points, from 281.4 to 278.4, which represents a decrease of 1.07 per cent in April compared to the previous month, explained the latest Dubai/Abu Dhabi Residential Property Price Indices: April released by Reidin, a major real estate information provider.

Reidin Sales Price Indices (SPID) are designed to be a reliable and consistent benchmark of residential property prices, a statement said. The index measures the average change in house prices in certain districts and communities in Dubai.

Apartment sales prices registered a decrease in April. Prices decreased 0.87 per cent month-on-month (m-o-m) and also decreased 3.6 per cent y-o-y.

Villa sales prices registered a decreased in April. Prices decreased 1.84 per cent m-o-m but increased 0.4 per cent y-o-y.

Dubai residential properties rent price trends:

Residential property prices in Dubai's rental market decreased by 0.7 points, from 103.8 to 103.1, which represents a decrease of 0.67 per cent in April. On the other hand, rental prices increased 2.9 per cent y-o-y.

Apartment rental prices show a decrease on a m-o-m basis in April. Prices decreased 0.69 per cent m-o-m but increased 3.4 per cent y-o-y.

Villa rental prices registered a decrease on a m-o-m basis in April. Prices decreased 0.25 per cent m-o-m but increased 0.7 per cent y-o-y.
         
Abu Dhabi residential properties price trends:

The Abu Dhabi Residential Property Price Index for all residential decreased by 0.9 points, from 82.9 to 82.0, which represents a decrease of 1.09 per cent in April. On the other hand, prices decreased 1.1 per cent y-o-y.

Apartment sales prices registered a decrease in April. Prices decreased 1.06 per cent m-o-m and decreased 3.4 per cent y-o-y.

Villa sale prices registered a decrease in April. Prices decreased 1.23 per cent m-o-m but increased 0.1 per cent y-o-y.

Meanwhile, residential property prices in Abu Dhabi's rental market increased by 1.2 points, from 65.8 to 67.0, which represents an increase of 1.82 per cent in April. On the other hand, prices increased 4.5 per cent y-o-y.

Apartment rental prices registered an increase in April. Prices increased 2.11 per cent m-o-m and increased 2.1 per cent y-o-y.

Villa rental prices registered an increase in April. Prices increased 1.65 per cent m-o-m and 6.9 per cent y-o-y. – TradeArabia News Service