Dubai apartment prices continue to fall in April, down 7.3% on year

Dubai apartment prices continued to fall marginally during April, bring values down by 7.3 percent annually, according to a new report.

ReidIn's Dubai Residential Property Sales Price Index decreased by 1.4 points last month, from 259.0 to 257.6, which represents a decrease of 0.53 percent.

The report showed that apartment sales prices fell 0.75 percent during the month and by 7.3 percent year-on-year while villa sales prices registered an increase in April of 0.40 percent but decreased 8.2 percent annually.

ReidIn's rental index showed a small rise of 0.05 percent last month while values were down by 4.2 percent year-on-year.

Apartment rental prices rose by 0.14 percent for the month but decreased 3.9 percent compared to April 2015 while villa rents fell by 0.46 percent and 6.3 percent respectively.

The Abu Dhabi Residential Property Price Index decreased by 0.6 points, from 83.6 to 83.0, which represents a decrease of 0.71 percent in April but an annual increase of 1.3 percent.

Apartment sales prices registered a decrease in April of 0.58 percent and also a fall of 0.8 percent compared to April 2015.

Villa sales prices registered a decrease in April of 1.13 percent but an annual increase of 3 percent.

Rental values in the UAE capital decreased by 0.08 points, from 66.84 to 66.76, which represents a decrease of 0.12 percent in April and a 0.4 percent fall annually.

Apartment rent fell 0.13 percent compared to March and also decreased 1.2 percent annually while villa rents fell 0.04 percent month-on-month but increased 1 percent annually.

Arabian Business.com Contribution Time: 31-May-2016 11:52 (GMT)
Arabian Business.com Last Update Time: 31-May-2016 11:53 (GMT)