06 December 2017

United Arab Emirates: Decline in property prices in rent in Dubai and Abu Dhabi

The latest index figures show that both property prices and rents have declined compared to a year ago. This can be felt in both Dubai and Abu Dhabi, however the villa market is starting to show signs of recovery. 

Property prices in Dubai fell by 0.65% month on month in October and down 2.96% year on year as reflected in the latest REIDIN index.  A closer look at the figures shows apartment prices down 0.68% on a monthly basis and villa prices down 0.51% with a year on year decline of 2.96% and 1.36% respectively.

Additionally,  rents in Dubai are declining as well.  Overall rents were down 0.74% month on month and 6.27% year on year.  Apartment rents felt a decline of 0.69% month on month and 6.02% annually.  Villa rents were also down 0.96% month on month and 7.63% year on year.   

Residential prices fell overall in Abu Dhabi by 0.55% month on month for October and were down 9.49% year on year.  Additionally apartment prices were down 0.89% month on month and 9.89% year on year.

However the villa market is showing slight signs of recovery with an increase of 0.55% month on month even though prices overall are still down in October by 8.2% compared to the same period in 2016.






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