Residential property prices have continued to fall across Dubai and Abu Dhabi, with the latest index showing decreases across all real estate sectors in November.
In Dubai prices fell by 1.2% month on month and were down by 3.84% year on year. The ReidIn data shows that apartment prices fell by 1.2% month on month and 4.19% year on year while villa prices were down 1.09% and 2.41%.
Rents were also down. There was a 0.95% fall in apartment rents month on month and a fall of 6.4% year on year while rents for villas were down 0.69% on a monthly basis and down 6.8% year on year.
In neighbouring Abu Dhabi prices fell by 0.43% in November and prices were down by 9.62% year on year, the ReidIn index also shows.
Within the residential sector apartment prices were down 0.65% month on month and down by 10.48% year on year. In the villa sector prices fell by 0.23% month on month and by 6.86% year on year.
As with Dubai, rents also fell in Abu Dhabi, with apartment rent down by 1.27% on a monthly basis and down by 11.17% year on year. Villa rents were down by 1.08% month on month and down by 9.71% year on year.
