Residential property prices in the Dubai housing market registered a 22.4 per cent year-on-year (YOY) increase in November, said the Dubai Residential Property Sales Index.
The index increased by 5.8 points, up 2.44 month-over-month (MOM) in November, according to the Reidin.com Sales Price Indices (SPID).
Apartment sales prices in the emirate registered an increase of 2.9 per cent MOM and 24.5 per cent YOY, while villa prices increased 0.73 per cent in the month and 14.9 per cent YOY.
Meanwhile, the Abu Dhabi Residential Property Price Index increased by 1.50 points, up 1.96 per cent MOM, with prices increasing by 19.7 per cent YOY.
Apartment sales prices registered an increase of 1.77 per cent in November and 21 per cent YOY, while villa prices increased by 2.04 per cent MOM and 16.5 per cent YOY.
Abu Dhabi’s rental market prices increased 0.50 points in November, with prices increasing by 3.7 per cent as compared to November 2012.
Apartment rental prices rose 1.73 per cent as compared to October and was up 9 per cent compared to November last year, while villa rentals increased 0.63 per cent MOM and 4.6 per cent YOY.