Taylor Scott International News
Residential property prices and rents have fallen in Dubai at the start of 2016, with the latest index figures indicating a falling or stagnant market. Overall property prices rose just 0.09% in January and were down 9.6% year on year, according to the data from the latest ReidIn index. A breakdown of the figures shows that apartment prices fell 0.19% month on month and 9.7% year on year while villa prices increased 1.23% but are down 8.9% year on year. Overall property rental values fell by 1.57% and were down 5.3% year on year. Apartment rents fell 1.67% month on month and 5.2% year on year while villa rents were down 0.9% month on month and 5.9% year on year. In neighbouring Abu Dhabi Residential the property markets are also more or less stagnant with the overall property price index up by 0.62% month on month and by 0.1% year on year. Apartment prices increased 0.89% month on month but were down 2.6% year on year while villa prices increased 0.13% month on month and 3.1% year on year. The rental market in Abu Dhabi was slightly more buoyant and values increased by 2.11% in January compared to December but are down 1.8% compared to January 2015. A breakdown of the figures show that apartment rents increased 2.3 month on month but were down 0.9% year on year while villa rents increased 1.86% month on month but were down 1.6% year on year. Taylor Scott International
Taylor Scott International, Taylor Scott
