The prices in real estate in Al Quoz, in the Dubai region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Al Quoz has increased strongly during the last 6 months. In December, the average price per sq.feet was AED 525. In the following month the price per sq.feet increased considerably to AED 787. The price for the following two months in (February, March) had a considerable increment of 2049 %. The price per sq.feet has had a considerable increase of 166 % 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 7,048.5 to AED 11,670.5 during April, and May.
Based upon to the price in Al Quoz (cities), this has fallen considerably in the last 6 months. The average price for December is AED 7,280,302. During January the price had a considerable reduction till AED 3,512,605. During the following two months (February, March) the average price had a considerable reduction of 67 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 88 %, going from AED 4,507,336 to AED 3,986,942 in April and May.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 4,136,940 they are 76 % more affordable than the average price for Al Quoz. The properties with the highest average price have 4 bedrooms, Their price is 81 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 3,589,930.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 6,957 / sq.feet, with an average AED 11,805 / sq.feet price in Al Quoz. The properties with the highest average prices have 4 bedrooms. They are 57 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 16,231 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 4,136,940 it is 55 % cheaper than the average price in Al Quoz. "Villa" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Villa". At a price of AED 6,849,983 it is 460 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of AED 471 / sq.feet followed by "Apartment" priced at AED 13,210 / sq.feet. "Villa" is the most costly type of property with a AED 16,667 / sq.feet cost followed by "Apartment" with an average price of AED 13,210 / sq.feet.