The prices in real estate in Al Reef, in the Abu Dhabi region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Al Reef has remained the same in the last 6 months. In December, the average price per sq.feet was AED 639. In the following month the price per sq.feet increased to AED 719. In the following two months the price per sq.feet has barely changed, going from AED 679 to AED 701.5 per sq.feet. The price per sq.feet has decreased 89 % 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 690.25 to AED 614.5 during April, and May.
Based upon to the price in Al Reef (cities), this has gone downing the last 6 months. In our first sample month during December, the average price is AED 1,431,787. In January This price remains at AED 1,426,425. In the following two months the average price has remained the same with regard to the previous two months from AED 1,429,106 to AED 1,389,101.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 87 %, going from AED 1,409,103.75 to AED 1,223,851 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 1,192,412 they are 45 % more affordable than the average price for Al Reef. The properties with the highest average price have 4 bedrooms, Their price is 49 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,249,242.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 584 / sq.feet, with an average AED 605 / sq.feet price in Al Reef. The properties with the highest average prices have 4 bedrooms. They are 3 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 613 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,192,412 it is 60 % cheaper than the average price in Al Reef. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Flat". At a price of AED 1,068,889 it is 28 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Villa" at an average cost of AED 585 / sq.feet followed by "Apartment" priced at AED 661 / sq.feet. "Townhouse" is the most costly type of property with a AED 1,097 / sq.feet cost followed by "Studio" with an average price of AED 997 / sq.feet.