The prices in real estate in Al Quoz, 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 Quoz has had a strong decrease during the last 6 months. In June, the average price per sq.feet was AED 5,868. In the following month the price per sq.feet decreased considerably to AED 606. The price for the following two months in (August, September) had a considerable decrease of 18 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 30 % 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 1,909.25 to AED 574 during October, and November.
Based upon to the price in Al Quoz (cities), this has fallen considerably in the last 6 months. The average price for June is AED 4,590,248. During July the price had a considerable reduction till AED 1,812,577. During the following two months (August, September) the average price had a considerable reduction of 48 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from AED 2,371,219.75 to AED 1,690,495.5, which means a 71 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,615,710 they are 58 % more affordable than the average price for Al Quoz. The properties with the highest average price have 4 bedrooms, Their price is 75 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,091,000.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 634 / sq.feet, with an average AED 560 / sq.feet price in Al Quoz. The properties with the highest average prices have 3 bedrooms. They are 62 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 830 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 1,615,710 it is 58 % cheaper than the average price in Al Quoz. "Residential Plot" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Land". At a price of AED 4,433,333 it is 1180 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of AED 115 / sq.feet followed by "Land" priced at AED 220 / sq.feet. "Apartment" is the most costly type of property with a AED 663 / sq.feet cost followed by "Villa" with an average price of AED 624 / sq.feet.