The prices in real estate in Business Bay, in the Dubai region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Business Bay has increased during the last 6 months. In September, the average price per sq.feet was AED 1,577. In the following month the price per sq.feet increased to AED 1,677. In the following two months the price per sq.feet has increased 110 %, going from AED 1,627 to AED 1,788.5 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of AED 1,707.75 to AED 1,693 during January y February
Based upon to the price in Business Bay (cities), these have remained the same in the last 6 months. In our first sample month during September, the average price is AED 1,805,813. In October This price remains at AED 1,774,541. In the following two months the average price has remained the same with regard to the previous two months from AED 1,790,177 to AED 1,869,338.5. 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 1,922,924 they are 25 % more affordable than the average price for Business Bay. The properties with the highest average price have 4 bedrooms, Their price is 641 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,138,661.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 1,679 / sq.feet, with an average AED 1,668 / sq.feet price in Business Bay. The properties with the highest average prices have 4 bedrooms. They are 74 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 2,026 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,922,924 it is 53 % cheaper than the average price in Business Bay. "Apartment" is seen as the second most affordable property type. The dearest property type is "Penthouse" followed by "Duplex". At a price of AED 4,556,809 it is 2212 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of AED 1,255 / sq.feet followed by "Commercial" priced at AED 1,284 / sq.feet. "Penthouse" is the most costly type of property with a AED 4,538 / sq.feet cost followed by "Duplex" with an average price of AED 2,753 / sq.feet.