Home prices and also leas have actually fallen in Dubai at the beginning of 2016, with the most up to date index numbers suggesting a falling or stagnant market. General building costs increased simply 0.09 % in January and were down 9.6 % year on year, according to the information from the current ReidIn index. A malfunction of the numbers reveals that apartment or condo prices fell 0.19 % month on month and 9.7 % year on year while suite costs increased 1.23 % yet are down 8.9 % year on year. Total residential property leasing worths fell by 1.57 % as well as were down 5.3 % year on year. Apartment or condo rents dropped 1.67 % month on month and also 5.2 % year on year while vacation home rents were down 0.9 % month on month and 5.9 % year on year. In adjoining Abu Dhabi Residential the residential property markets are also basically stagnant with the overall property consumer price index up by 0.62 % month on month as well as by 0.1 % year on year. Apartment costs boosted 0.89 % month on month but were down 2.6 % year on year while villa rates raised 0.13 % month on month and also 3.1 % year on year. The rental market in Abu Dhabi was a little so much more resilient and also values increased by 2.11 % in January as compared to December yet are down 1.8 % compared to January 2015. A failure of the figures reveal that house rental fees enhanced 2.3 month on month however were down 0.9 % year on year while suite leas raised 1.86 % month on month however were down 1.6 % year on year. Continue reading
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