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 January, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to AED 736. The price for the following two months in (March, April) had a considerable increment of 198 %. The price per sq.feet has had a considerable increase of 124 % 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 549 to AED 680.5 during May, and June.
Based upon to the price in Al Reef (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during January, is . During February the price went through a considerable rise reaching AED 1,471,037. During the following two months (March, April) the average price had a considerable increase of 190 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 126 % 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 1,315,362 they are 50 % more affordable than the average price for Al Reef. The properties with the highest average price have 4 bedrooms, Their price is 50 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,370,875.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 650 / sq.feet, with an average AED 667 / sq.feet price in Al Reef. The properties with the highest average prices have 1 bedroom. They are 19 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 705 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,315,362 it is 64 % 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 994,762 it is 27 % 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 637 / sq.feet followed by "Apartment" priced at AED 705 / sq.feet. "Townhouse" is the most costly type of property with a AED 1,119 / sq.feet cost followed by "Studio" with an average price of AED 923 / sq.feet.