The prices in real estate in Al Reef, in the Abu Dhabi 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 Reef has had a strong decrease during the last 6 months. In September, the average price per sq.feet was AED 1,671. In the following month the price per sq.feet increased considerably to AED 3,021. The price for the following two months in (November, December) had a considerable decrease of 53 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 39 % 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 1,794 to AED 701 during January, and February.
Based upon to the price in Al Reef (cities), this has gone downing the last 6 months. The average price for September is AED 1,676,795. During October the price had a slight fall till AED 1,592,863. During the following two months (November, December) the average price fell 93 % 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 93 %, going from AED 1,575,058.75 to AED 1,466,423 in January and February.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,512,108 they are 58 % more affordable than the average price for Al Reef. The properties with the highest average price have 4 bedrooms, Their price is 34 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,349,237.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of AED 4,850 / sq.feet, with an average AED 674 / sq.feet price in Al Reef. The properties with the highest average prices have 4 bedrooms. They are 727 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 5,268 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,512,108 it is 69 % 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 1,037,500 it is 19 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Flat" at an average cost of AED 775 / sq.feet followed by "Studio" priced at AED 988 / sq.feet. "Apartment" is the most costly type of property with a AED 5,529 / sq.feet cost followed by "Villa" with an average price of AED 2,908 / sq.feet.