REIDIN January 2016: Better month for Dubai sales, but not for rentals; Abu Dhabi numbers continue to show resilience
REIDIN released its Dubai and Abu Dhabi Residential Property Price Indices for January 2016. In Dubai, the general index covering all sold residential units rose 0.1% M-o-M and fell 9.6% Y-o-Y, with apartment sales prices inching down 0.2% M-o-M and dropping 9.7% Y-o-Y, and sales prices for villas increasing 1.2% M-o-M, but dropping 8.9% Y-o-Y. As for the rental market, rates dropped by 1.6% M-o-M and 5.3% Y-o-Y, with apartment rental prices falling 1.7% M-o-M and 5.2% Y-o-Y, while rental prices for villas were down 1.0% M-o-M and 5.9% Y-o-Y. In Abu Dhabi, the general index for all sold residential units inched up by 0.6% M-o-M and 0.1% Y-o-Y, with apartment sales prices rising 0.9% M-o-M and falling 2.6% Y-o-Y, and sales prices for villas rising 0.1% M-o-M and 3.1% Y-o-Y. As for the rental market, prices rose by 2.1% M-o-M and dropped by 1.8% Y-o-Y, with apartment rental prices rising 2.3% M-o-M and dropping 0.9% Y-o-Y, and rental prices for villas increasing 1.9% M-o-M and dropping 1.6% Y-o-Y. (REIDIN)
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