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 June, the average price per sq.feet was AED 56.65. In the following month the price per sq.feet fell considerably to AED 46.39. The price for the following two months in (August, September) fell 87 % 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 48.23 to AED 41.26 during October, and November.
When referring to the price in Motor City (cities), this has fallen in the last 6 months. In our first sample month during June, the average price is AED 85,758. In July This price remains at AED 83,907. During the following two months (August, September) the average price fell 86 % with regard to the previous two months. During the last two months, the average price has fallen with regard to the previous ones. To be precise it has fallen 91 %, going from AED 78,715 to AED 71,819 in October and November.
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 75,089 they are 25 % more affordable than the average price for Motor City . The properties with the highest average price have 4 bedrooms, Their price is 103 % more expensive than the average. After that we have properties with 3 bedrooms priced at AED 93,020.
With regard to the average price per sq.feet, those properties with 1 bedroom are the most affordable ones at a cost of AED 34.4 / sq.feet, with an average AED 39.93 / sq.feet price in Motor City. The properties with the most expensive average prices have 4 bedrooms. They are 12 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 39.19 / sq.feet.
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of AED 75,089 it is 17 % more affordable than the average price in Motor City. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Commercial" followed by "Villa". At a price of AED 135,905 it is 228 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Villa" at an average price of AED 29.35 / sq.feet followed by "Apartment" priced at AED 35.69 / sq.feet. "Townhouse" is the most expensive type of property with a AED 65.44 / sq.feet value followed by "Commercial" with an average price of AED 54.15 / sq.feet.