The Dubai Residential Property Sales Price Index for all residential decreased by 4.3 points, from 261.2 to 256.9, which represents a decrease of 1.65 per cent in February 2016, said a report.

On the other hand, prices decreased 10.0 per cent year-on-year (y-o-y), according to Reidin.com sales price indices (Spid).

A reliable and consistent benchmark of residential property prices in Dubai, Spid measures the average change in house prices in certain districts and communities in Dubai.
 
Apartment sales prices registered a decrease in February 2016. Prices decreased 1.76 per cent month-on-month (m-o-m) and also decreased 9.6 per cent y-o-y, it stated.

The villa sales prices too posted a decrease in February. Prices fell 1.23 per cent m-o-m and also decreased 11.5 per cent y-o-y.

Residential property prices in Dubai rental market decreased by 0.9 points, from 99.3 to 98.4, which represents a decrease of 0.93 per cent in February 2016. On the other hand, rental prices decreased 5.5 per cent y-o-y.

Apartment rental prices registered a decrease in February 2016. Prices decreased 1.17 per cent m-o-m and also decreased 5.4 per cent y-o-y.

Villa rental prices registered an increase in February 2016. Prices increased 0.33 per cent m-o-m but decreased 5.7 per cent y-o-y.

On the Abu Dhabi market, Reidin said the residential property price for all residential decreased by 0.3 points, from 84.1 to 83.8, which represents a drop of 0.29 per cent in February. However, the prices increased 0.6 per cent y-o-y, it stated.

Apartment sales prices registered a decrease for the month. The prices fell 0.26 per cent m-o-m and 1.9 per cent y-o-y.

Villa sales prices registered a decrease plunging 0.35 per cent m-o-m. However, the sale price rose 3.5 per cent y-o-y.

Residential property prices in Abu Dhabi rental market increased by 1.1 points, from 65.8 to 66.9, which represents an increase of 1.69 per cent in February. On the other hand, prices increased 0.9 per cent y-o-y.

According to Reidin, the apartment rental prices registered an increase in February. Prices too rose 2.08 per cent m-o-m and 0.7 per cent y-o-y.

The villa rental prices too witnessed an increase in January 2016. Prices rose one per cent m-o-m and also increased 1.7 per cent y-o-y.-TradeArabia News Service