The value of residential real estate in Dubai increased by 1.53 per cent in April, compared to a month earlier, while in Abu Dhabi property prices dropped by 0.65 per cent.
In Abu Dhabi, this now means the cost of buying a home has fallen 5.82 per cent year-on-year. By contrast, it has become more expensive to make a purchase in Dubai, with prices there climbing by 11.46 per cent in the same period, according to the REIDIN figures.
It is a similar picture in the rental market too, with Dubai experiencing both monthly and yearly rental price rises. However, the cost of leasing smaller apartments in the emirate fell last month.
Rental values in Abu Dhabi continued to slide month-on-month and registered a 9.38 per cent decline since April 2011. Conversely, it is small apartments that are performing well in Abu Dhabi, with flats measuring under 50 sq m or between 51 sq m and 100 sq m seeing monthly rises in rental charges.
In the latest Knight Frank Prime Global Cities Index, Dubai was the best performing Middle Eastern destination, posting a quarterly increase in property values of four per cent during the first three months of 2012.
Source: http://www.propertyshowrooms.com/united%20arab%20emirates/property/news/dubai-real-estate-outperforms-abu-dhabi-property_312127.html
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