The rent prices in real estate in Deira, in the Dubai region have slightly fallen in the last couple of months. There has been a fall in the rent prices in this city.
The price per sq.feet in Deira has fallen during the last 6 months. In February, the average price per sq.feet was AED 95.05. In March this price barely changed remaining at AED 93.17 per sq.feet. The price for the following two months in (April, May) had a considerable rise of 121 %. The price per sq.feet has had a considerable fall of 55 % 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 103.86 to AED 56.74 during June, and July.
When referring to the price in Deira (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is AED 113,433. In March This price remains at AED 116,921. In the following two months the average price has hardly changed with regard to the previous two months from AED 115,177 to AED 115,745. During the last two months the average price has fallen greatly compared to the previous four going from AED 115,461 to AED 63,735, which means a 55 % fall.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of AED 58,960 they are 29 % more affordable than the average price for Deira . The properties with the highest average price have 4 bedrooms, Their price is 99 % more expensive than the average. After that we have properties with 3 bedrooms priced at AED 78,218.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of AED 38.98 / sq.feet, with an average AED 53.54 / sq.feet price in Deira. The properties with the most affordable average prices have 1 bedroom. They are 11 % more affordable than the average followed by properties with 2 bedrooms with a price at AED 45.43 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of AED 58,960 it is 7 % more affordable than the average price in Deira. "Townhouse" is seen as the second most affordable property type. The most expensive property type is "Building" followed by "Commercial". At a price of AED 147,688 it is 299 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Townhouse" at an average price of AED 31.91 / sq.feet followed by "Villa" priced at AED 33.61 / sq.feet. "Building" is the most expensive type of property with a AED 470 / sq.feet value followed by "Commercial" with an average price of AED 167.81 / sq.feet.