The prices in real estate in Al Barsha, in the Dubai region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Al Barsha has had a strong decrease during the last 6 months. In February, the average price per sq.feet was AED 10,509. In the following month the price per sq.feet decreased considerably to AED 7,522. In the following two months the price per sq.feet has barely changed, going from AED 9,015.5 to AED 8,587 per sq.feet. The price per sq.feet has had a considerable deflation of 11 % 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 8,801.25 to AED 946 during June, and July.
Based upon to the price in Al Barsha (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during February, is AED 3,315,254. During March the price went through a considerable rise reaching AED 4,694,860. During the following two months (April, May) the average price had a considerable increase of 116 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 5,089,785 they are 84 % more affordable than the average price for Al Barsha. The properties with the lowest average price have 4 bedrooms, Their price is 31 % cheaper than the average. After that we have properties with 3 bedrooms priced at AED 3,365,262.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 858 / sq.feet, with an average AED 887 / sq.feet price in Al Barsha. The properties with the highest average prices have 4 bedrooms. They are 19 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,017 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 5,089,785 it is 82 % cheaper than the average price in Al Barsha. "House" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of AED 28,781,800 it is 587 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Residential Plot" at an average cost of AED 346 / sq.feet followed by "Villa" priced at AED 736 / sq.feet. "House" is the most costly type of property with a AED 14,577 / sq.feet cost followed by "Commercial" with an average price of AED 2,220 / sq.feet.