Residential property market in Dubai stabilising, latest index data suggests

The real estate market in Dubai is stabilising with the latest index showing that prices increased by 0.28% in April compared with a year ago and sales were down just 0.02%.

The data from the ReidIn residential index also shows that apartment prices fell by 0.13% month on month but increased by 0.51% year on year while villa prices increased 0.44% month on month but fell 0.66% year on year.

In the lettings market the index shows that rents fell by 0.39% in April and are down 4.08% compared to the same month in 2016. Apartment rents fell 0.41% month on month and by 3.49% year on year while villa rents were down 0.31% month on month and down 7.29% year on year.

In neighbouring Abu Dhabi the market is still on a downward trend as prices fell by 0.47% month on month and are down 6.55% compared to April 2016. Apartment prices were down 0.48% month on month and 6.51% year on year while villa prices fell 0.44% month on month and 6.68% year on year.

In the Abu Dhabi lettings market rents were down 0.88% in April and 10.47% year on year. Apartment rents fell by 0.74% month on month and 11.02% year on year while villa rents were down 1.45% month on month and 8.29% year on year.

Residential property market in Dubai stabilising, latest index data suggests

The real estate market in Dubai is stabilising with the latest index showing that prices increased by 0.28% in April compared with a year ago and sales were down just 0.02%.

The data from the ReidIn residential index also shows that apartment prices fell by 0.13% month on month but increased by 0.51% year on year while villa prices increased 0.44% month on month but fell 0.66% year on year.

In the lettings market the index shows that rents fell by 0.39% in April and are down 4.08% compared to the same month in 2016. Apartment rents fell 0.41% month on month and by 3.49% year on year while villa rents were down 0.31% month on month and down 7.29% year on year.

In neighbouring Abu Dhabi the market is still on a downward trend as prices fell by 0.47% month on month and are down 6.55% compared to April 2016. Apartment prices were down 0.48% month on month and 6.51% year on year while villa prices fell 0.44% month on month and 6.68% year on year.

In the Abu Dhabi lettings market rents were down 0.88% in April and 10.47% year on year. Apartment rents fell by 0.74% month on month and 11.02% year on year while villa rents were down 1.45% month on month and 8.29% year on year.