The rent prices in real estate in Motor City, 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 Motor City has had a strong fall during the last 6 months. In September, the average price per sq.feet was AED 45.73. In the following month the price per sq.feet fell to AED 42.6. The price for the following two months in (November, December) fell 88 % with regard to the previous two months. The price per sq.feet has fallen 86 % 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 41.51 to AED 35.6 during January, and February.
When referring to the price in Motor City (cities), there have hardly been any changes in the last 6 months. In our first sample month during September, the average price is AED 71,699. In October This price remains at AED 68,549. In the following two months the average price has hardly changed with regard to the previous two months from AED 70,124 to AED 73,124. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 92 %, going from AED 71,624 to AED 65,757 in January and February.
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 59,858 they are 18 % more affordable than the average price for Motor City . The properties with the highest average price have 3 bedrooms, Their price is 72 % more expensive than the average. After that we have properties with 4 bedrooms priced at AED 94,149.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of AED 24.22 / sq.feet, with an average AED 34.17 / sq.feet price in Motor City. The properties with the most expensive average prices have 3 bedrooms. They are 10 % more expensive than the average followed by properties with 1 bedroom with a price at AED 34.64 / sq.feet.
The graph displaying the average rent prices displays the property type "Apartment" as the most affordable one. At an cost of AED 59,858 it is 13 % more affordable than the average price in Motor City. "Commercial" is seen as the second most affordable property type. The most expensive property type is "Office" followed by "Flat". At a price of AED 143,612 it is 314 % 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 26.46 / sq.feet followed by "Flat" priced at AED 32.08 / sq.feet. "Office" is the most expensive type of property with a AED 53 / sq.feet value followed by "Villa" with an average price of AED 50.42 / sq.feet.