The rent prices in real estate in Al Reef, in the Abu Dhabi region have fallen considerably in the last couple of months. There has been a strong fall in the rent prices in this city.
The price per sq.feet in Al Reef has had a strong fall during the last 6 months. In January, the average price per sq.feet was AED 28.12. In February this price barely changed remaining at AED 27.51 per sq.feet. The price for the following two months in (March, April) had a considerable fall of 72 with regard to the previous two months. The price per sq.feet has had a considerable fall of 57 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of AED 23.91 to AED 13.59 during May, and June.
When referring to the price in Al Reef (cities), this has fallen considerably in the last 6 months. In our first sample month during January, the average price is AED 50,922. In February This price remains at AED 50,457. During the following two months (March, April) the average price had a considerable fall of 75 % with regard to the previous two months. During the last two months the average price has fallen greatly compared to the previous four going from AED 44,230 to AED 36,180.5, which means a 82 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 2 bedrooms are the most affordable ones. At a price of AED 41,765 they are 37 % more affordable than the average price for Al Reef . The properties with the highest average price have 4 bedrooms, Their price is 88 % more expensive than the average. After that we have properties with 1 bedroom priced at AED 75,417.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most expensive ones at a cost of AED 15.59 / sq.feet, with an average AED 15.56 / sq.feet price in Al Reef. The properties with the most expensive average prices have 4 bedrooms. They are 77 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 19.9 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of AED 41,765 it is 4 % more affordable than the average price in Al Reef. "Villa" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "Flat". At a price of AED 62,333 it is 144 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Apartment" at an average price of AED 3.09 / sq.feet followed by "Villa" priced at AED 17.87 / sq.feet. "Studio" is the most expensive type of property with a AED 90 / sq.feet value followed by "Flat" with an average price of AED 56.4 / sq.feet.