20 February 2012
Real estate figures from the United Arab Emirates (UAE)
Real estate figures from the United Arab Emirates (UAE) have seen mixed results, with property values in some areas rising, while others are falling.
According to the REIDIN.com UAE Residential Property Price Indices: January 2012 Results, Dubai has had an increase in real estate values since December 2011.
Findings showed prices for residential property rose by 1.21 per cent in the month, resulting in a boost for property in the UAE.
The report revealed apartment sales prices grew by 0.54 per cent, while villa sales values increased by 1.58 per cent during this period.
However, the figures also showed residential real estate in Abu Dhabi declined in value between December 2011 and January 2012 by 0.59 per cent, as a result of apartment and villa sales prices dropping by 0.98 per cent and 0.04 per cent respectively over the month.
This follows Jones Lang LaSalle’s Top trends for UAE Real Estate in 2012 report, which predicted that while there will be a greater number of property transactions in 2012 compared with last year, there will be more realism among investors, with the focus being directed towards long-term commercial viability.