The residential property sale prices across Dubai, UAE, fell 9.8 per cent year-on-year (y-o-y) in July, while in capital Abu Dhabi the prices were down two per cent, said a report.

The Dubai Residential Property Sales Price Index for all residential decreased by four points, from 271.4 to 267.4, which represents a decrease of 1.47 per cent in July 2015, stated Reidin.com, a real estate information company focusing on emerging markets.

The apartment sales prices in the emirate registered a decrease in July. Prices were down 1.63 per cent month-on-month and also decreased 10.5 per cent y-o-y.

According to Reidin, the villa sales prices registered a decrease in July 2015. The prices tumbled 7.1 per cent y-o-y.

In the Dubai rental market, the residential property prices fell by 0.7 points, from 102.2 to 101.5, which represents a decrease of 0.68 per cent in July 2015. On the other hand, rental prices were down 1.2 per cent y-o-y.

The apartment rental prices show a decrease on a m-o-m basis in July 2015. Prices decreased 0.70 per cent m-o-m and also decreased 0.9 per cent y-o-y.

The villa rental prices registered a decrease on a m-o-m basis in July 2015. Prices decreased 0.50 per cent m-o-m and also decreased 2.3 per cent y-o-y.

Meanwhile, the scenario in the UAE capital was slightly different. Abu Dhabi Residential Property Price Index for all residential rose by 0.5 points, from 82 to 82.5, which represents an increase of 0.61 per cent in July 2015. However, the prices decreased two per cent y-o-y.

The apartment sales prices too registered a hike in July. The prices increased 0.46 per cent m-o-m but decreased 3.7 per cent y-o-y.

According to Reidin, the villa sales prices registered an increase in July 2015 with a 0.85 per cent m-o-m jump but decreased 1.1 per cent y-o-y.

On the rental market, the residential property prices decreased by 0.5 points, from 66.6 to 66.1 in Abu Dhabi. On the other hand, prices increased 1.1 per cent y-o-y.

The apartment rental prices tumbled 1.19 per cent m-o-m and 0.6 per cent y-o-y, while the villa rental prices registered a decrease in July. The prices fell 0.44 per cent m-o-m, however it rose 2.7 per cent on an annual basis.-TradeArabia News Service