Dubai residential property sale prices decreased 1.29 per cent in May, marking a drop of 5.7 per cent year-on-year (y-o-y), a report said.

Apartment sales prices registered a decrease of 1.19 per cent month-on-month (m-o-m) and also decreased 6.8 per cent y-o-y, added the Dubai/Abu Dhabi Residential Property Price Indices: May 2015 published by Reidin, a real estate information company.

Villa sales prices decreased 1.72 per cent m-o-m and also decreased 0.8 per cent y-o-y.

Residential property prices in Dubai rental market decreased by 0.4 points of Reidin Sales Price Indices (SPID), from 103.1 to 102.7, which represents a decrease of 0.37 per cent in May. On the other hand, rental prices increased 1.0 per cent y-o-y.

Apartment rental prices decreased 0.44 per cent m-o-m but increased 1.2 per cent y-o-y, while villa rental prices decreased 0.44 per cent m-o-m but unchanged y-o-y.

Abu Dhabi residential properties sales/rent price trends:

The Abu Dhabi Residential Property Price Index for all residential decreased by 0.2 points, from 82.0 to 81.8, which represents a decrease of 0.27 per cent in May. On the other hand, prices decreased 2.3 per cent y-o-y.

Apartment sales prices decreased 0.52 per cent m-o-m and decreased 4.5 per cent y-o-y, while villa sales prices increased 0.08 per cent m-o-m but decreased 1.2 per cent y-o-y.

Residential property prices in Abu Dhabi rental market increased by 0.3 points, from 67.0 to 67.3, which represents an increase of 0.37 per cent in May. On the other hand, prices increased 5.1 per cent y-o-y.

Apartment rental prices increased 0.18 per cent m-o-m and increased 2.8 per cent y-o-y, while villa rental prices increased 0.68 per cent m-o-m and increased 7.5 per cent y-o-y. – TradeArabia News Service