11 April 2012

Dubai/Abu Dhabi Residential Property Price Indices: March 2012 Results

April, 2012

Dubai Residential Property Price Indices: Sales Price Indices
– Residential property prices in Dubai housing market performed well in March 2012. The Dubai Residential Property Sales Index for all residential increased by 3.4 points, from 170.8 to 174.2, which represents an increase of 2.0% mom.

– Apartment sales prices with the size “50sqm and less”, increased by a nominal 2.07%; for “51sqm-100sqm”, increased by a nominal 2.08%; for “101sqm-150sqm”, increased by 0.13%; for “151sqm and more”, apartment sales prices decreased by a nominal 1.63% in March 2012.

YoY Change in Dubai RPPIs: Sales Price Indices

Apartment sales prices show relatively high nominal growth on a mom basis. Prices increased 2.00%  mom and 1.24% yoy. Villa sales prices registered an increase in March 2012. Prices increased 1.89%  mom and 18.11% yoy.

Dubai Residential Property Price Indices: Rent Price Indices
– Residential property prices in Dubai rental market decreased by 0.24 points, from 74.53 to 74.29, which represents a decrease of 0.33% mom.

– Apartment rental prices with the size “50sqm and less”, decreased by a nominal 1.09%; for “51sqm-100sqm”, decreased by a nominal 1.46%; for “101sqm-150sqm”, increased by 1.43%; for “151sqm and more”, apartment sales prices increased by a nominal 1.56% in March 2012.

YoY Change in Dubai RPPIs: Rent Price Indices

Apartment rental prices show a decrease on a mom basis. Prices decreased 0.25% mom but increased 8.54% yoy. Villa rental prices registered a decrease in March 2012. Prices decreased 0.37% mom but increased 11.64% yoy.

Abu Dhabi Residential Property Price Indices: Sales Price Indices
– The Abu Dhabi Residential Property Price Index for all residential decreased by 0.69 points, from 67.19 to 66.50, which represents a decrease of 1.02% mom.

– Apartment sales prices with the size “50sqm and less”, decreased by a nominal 1.49%; for “51sqm-100sqm”, decreased by a nominal 1.38%; for “101sqm-150sqm”, decreased by 1.19%; for “151sqm and more”, apartment sales prices decreased by a nominal 1.21% in March 2012.

YoY Change in Abu Dhabi RPPIs: Sales Price Indices

Apartment sales prices decreased 1.21% in March 2012 compared to February 2012 and decreased 9.89% compared to March 2011. Villa sales prices registered a decrease in March 2012. Prices decreased 0.78%  mom and 0.28% yoy.

Abu Dhabi Residential Property Price Indices: Rent Price Indices
– Residential property prices in Abu Dhabi rental market decreased by 0.27 points, from 62.90 to 62.63, which represents a decrease of 0.36% mom.

– Apartment rental prices with the size “50sqm and less”, increased by a nominal 1.34%; for “51sqm-100sqm”, increased by a nominal 1.52%; for “101sqm-150sqm”, decreased by 1.24%; for “151sqm and more”, apartment sales prices decreased by a nominal 1.18% in March 2012.

YoY Change in Abu Dhabi RPPIs: Rent Price Indices

Apartment rental prices increased 1.45% in March 2012 compared to February 2012 but decreased 4.63% compared to March 2011. Villa rental prices registered a decrease in March 2012. Prices decreased 0.52%  mom and 11.75% yoy.

Read the full report here