The rent prices in real estate in Greens, in the Dubai 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 Greens has had a strong fall during the last 6 months. In March, the average price per sq.feet was AED 66.87. In April this price barely changed remaining at AED 66.11 per sq.feet. The price for the following two months in (May, June) had a considerable fall of 82 with regard to the previous two months. The price per sq.feet has had a considerable fall of 63 % 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 60.43 to AED 37.92 during July, and August.
When referring to the price in Greens (cities), this has fallen in the last 6 months. The rent price in March is AED 98,285, rising in April till AED 105,274. In the following two months the average price has hardly changed with regard to the previous two months from AED 101,779.5 to AED 96,854.5. During the last two months the average price has fallen greatly compared to the previous four going from AED 99,317 to AED 75,814, which means a 76 % 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 69,973 they are 13 % more affordable than the average price for Greens . The properties with the highest average price have 4 bedrooms, Their price is 61 % more expensive than the average. After that we have properties with 3 bedrooms priced at AED 108,056.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of AED 27.23 / sq.feet, with an average AED 39.11 / sq.feet price in Greens. The properties with the most expensive average prices have 3 bedrooms. They are 17 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 36.58 / sq.feet.
The graph displaying the average rent prices displays the property type "Commercial" as the most affordable one. At an cost of AED 69,973 it is 77 % more affordable than the average price in Greens. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Villa" followed by "Office". At a price of AED 163,144 it is 174 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Commercial" at an average price of AED 8.76 / sq.feet followed by "Apartment" priced at AED 13.43 / sq.feet. "Office" is the most expensive type of property with a AED 102.27 / sq.feet value followed by "Flat" with an average price of AED 77.53 / sq.feet.