The prices in real estate in Baniyas, in the Abu Dhabi region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Baniyas has fallen in the last 6 months. In February, the average price per sq.feet was AED 7,023. In the following month the price per sq.feet decreased considerably to AED 4,719. The price for the following two months in (April, May) had a considerable increment of 151 %. The price per sq.feet has had a considerable deflation of 60 % 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 7,362.25 to AED 4,381.5 during June, and July.
Based upon to the price in Baniyas (cities), this has gone downing the last 6 months. In our first sample month during February, the average price is AED 2,505,250. In March This price remains at AED 2,495,172. In the following two months the average price has remained the same with regard to the previous two months from AED 2,500,211 to AED 2,463,947. During the last two months the average price has had a strong fall compared to the previous four going from AED 2,482,079 to AED 2,085,515, which means a 84 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 2,158,563 they are 70 % more affordable than the average price for Baniyas. The properties with the highest average price have 4 bedrooms, Their price is 84 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,363,889.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 3,350 / sq.feet, with an average AED 3,900 / sq.feet price in Baniyas. The properties with the highest average prices have 4 bedrooms. They are 20 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 4,370 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 2,158,563 it is 58 % cheaper than the average price in Baniyas. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Apartment". At a price of AED 935,444 it is 73 % 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 782 / sq.feet followed by "Villa" priced at AED 4,044 / sq.feet. "Apartment" is the most costly type of property with a AED 7,930 / sq.feet cost followed by "Villa" with an average price of AED 4,044 / sq.feet.