Property prices in Dubai increased by more than 22 % in the 12 months to the end of November 2013, according the latest index.
Property prices in Dubai increased by more than 22% in the 12 months to the end of November 2013, according the latest index.
On an annual basis they are up 22.4% and on a monthly basis they are up 2.44% compared with October, according to the data from REIDIN which measures the average change in house prices in certain districts in Dubai.
Apartment prices increased by 2.9% in November on a month on month basis and were up by 24.5% on an annual basis, the index also showed.
Villa sales prices registered an increase of 0.73% compared to the previous month and were 14.9% higher than in November 2012.
The REIDIN rental index showed Dubai rents rose 1.33% in November and were up by 16.6% compared to the year earlier period.
Apartment rents showed an increase of 1.37% month on month and 17.6% year on year while villa rents rose by 1.11% and 12.6% respectively.
In Abu Dhabi, the index showed prices rose by 1.96% in November compared to October and were up by 19.7% on an annual basis.
Apartment sales prices registered an increase of 1.77% in November and 21% compared to November 2012 while villa prices rose 2.04% and 16.5% respectively.
Rental values in the UAE capital also rose in November by 0.88%, resulting in a 3.7% increase on an annual basis, the REIDIN data showed.
Apartment rents increased 1.73% in November and by 9% compared to November 2012 while villa rents increased 0.63% and 4.6% respectively.