Dubai property prices rose over 22pc last year

Property prices in Dubai rose by over 22 per cent last year, according to the latest REIDIN index.

The figures show that real estate values climbed 22.4 per cent across the 12 months to the end of November 2013 and were 2.44 per cent above the previous month.

Apartment prices climbed an even higher 24.5 per cent year-on-year, compared to an annual increase in value of 14.9 per cent in villa values.

Rents also climbed 3.7 per cent annually, adds Property Wire, with apartment rents again marking a more extreme leap of 9 per cent year-on-year.