UAE residential prices edge up in Dec

30/01/2014 14:22 AST

Property prices in Dubai and Abu Dhabi housing markets increased 2.64 per cent 2 per cent month-on-month respectively in December 2013, according to a report.

The Dubai residential property sales index for all residential increased by 6.5 points, from 245.3 to 251.8, representing an increase of 2.64 per cent month-on-month (m-o-m), while prices increased 23.8 per cent year-on-year (y-o-y), said the Dubai/Abu Dhabi Residential Property Price Indices: Sales Price Indices for December, 2013, a report published by Reidin.com, a real estate information company focusing on emerging markets.

Apartment sales prices registered an increase in December 2013. Prices increased 2.59 per cent mom and 25.68 per cent y-o-y.

Villa sales prices registered an increase on a mom basis in December 2013. Prices increased 2.80 per cent mom and 16.90 per cent y-o-y.

Dubai Rental Price Indices

Residential property prices in Dubai rental market increased by 1.60 points, from 90.30 to 91.60, which represents an increase of 1.77 per cent mom in December 2013. On the other hand, rental prices increase 18.26 per cent y-o-y.

Apartment rental prices show an increase on a mom basis in December 2013. Prices increased 1.99 per cent mom and 19.73 per cent y-o-y.

Villa rental prices registered an increase in December 2013. Prices increased 0.74 per cent mom and 11.48 per cent y-o-y.

Abu Dhabi

The Abu Dhabi Residential Property Price Index for all residential increased by 1.50 points, from 76.50 to 78.00, which represents an increase of 2.03 per cent mom in December 2013. On the other hand, prices increased 20.60 per cent y-o-y.

Apartment sales prices registered an increase in December 2013. Prices increased 1.48 per cent mom and 21.42 per cent y-o-y.

Villa sales prices registered an increase in December 2013. Prices increased 2.17 per cent mom but increased 17.53 per cent y-o-y.

Abu Dhabi Rental Price Indices

Residential property prices in Abu Dhabi rental market increased by 0.30 points, from 62.60 to 62.90, which represents an increase of 0.55 per cent mom in December 2013. On the other hand, prices increased 3.40 per cent y-o-y.

Apartment rental prices increased 0.81 per cent in December 2013 compared to November 2013 and increased 8.41 per cent compared to December 2012.

Villa rental prices increased 0.61 per cent in December 2013 compared to November 2013 and increased 4.89 per cent compared to December 2012.

Trade Arabia