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 December, the average price per sq.feet was AED 1,592. In the following month the price per sq.feet decreased considerably to AED 728. The price for the following two months in (February, March) had a considerable decrease of 61 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 79 % 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 932 to AED 738.5 during April, and May.
Based upon to the price in Al Reef (cities), these have remained the same in the last 6 months. In our first sample month during December, the average price is AED 1,470,782. In January This price remains at AED 1,420,738. In the following two months the average price has remained the same with regard to the previous two months from AED 1,445,760 to AED 1,487,233. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 94 %, going from AED 1,466,496.5 to AED 1,371,929 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 1,460,375 they are 53 % more affordable than the average price for Al Reef. The properties with the highest average price have 4 bedrooms, Their price is 40 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,407,688.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 729 / sq.feet, with an average AED 740 / sq.feet price in Al Reef. The properties with the highest average prices have 4 bedrooms. They are 472 % more expensive than the average followed by properties with 1 bedroom with a price at AED 3,927 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,460,375 it is 68 % 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 1,052,738 it is 38 % 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 754 / sq.feet followed by "Villa" priced at AED 756 / sq.feet. "Apartment" is the most costly type of property with a AED 16,324 / sq.feet cost followed by "Townhouse" with an average price of AED 1,073 / sq.feet.