The prices in real estate in Al Reef, in the Abu Dhabi 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 Reef has increased strongly during the last 6 months. In July, the average price per sq.feet was AED 716. In August this price pretty much remained the same at a value of AED 705 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 710.5 to AED 727.5 per sq.feet. The price per sq.feet has had a considerable increase of 199 % 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 719 to AED 1,428.5 during November, and December.
Based upon to the price in Al Reef (cities), this has gone up in the last 6 months. In our first sample month during July, the average price is AED 1,351,358. In August This price remains at AED 1,363,608. During the following two months (September, October) the price has had an average incrementation from AED 1,357,483 to AED 1,464,467. Based on an analysis of the first four prices and the last two months the average price has gone up 106 % 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 1,595,138 they are 60 % more affordable than the average price for Al Reef. The properties with the highest average price have 4 bedrooms, Their price is 42 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,344,965.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of AED 1,400 / sq.feet, with an average AED 2,095 / sq.feet price in Al Reef. The properties with the highest average prices have 1 bedroom. They are 114 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 3,962 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 1,595,138 it is 39 % cheaper than the average price in Al Reef. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 1,896,201 it is 23 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of AED 752 / sq.feet followed by "Villa" priced at AED 1,278 / sq.feet. "Townhouse" is the most costly type of property with a AED 7,906 / sq.feet cost followed by "Apartment" with an average price of AED 2,806 / sq.feet.