The prices in real estate in Business Bay, in the Dubai 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 Business Bay has fallen in the last 6 months. In December, the average price per sq.feet was AED 1,439. In January this price pretty much remained the same at a value of AED 1,392 per sq.feet. The price for the following two months in (February, March) decreased 95 % with regard to the prior two months. 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 1,378.5 to AED 1,325.5 during April y May
Based upon to the price in Business Bay (cities), this has gone downing the last 6 months. The average price for December is AED 1,912,029. During January the price had a slight fall till AED 1,677,380. In the following two months the average price has remained the same with regard to the previous two months from AED 1,794,704.5 to AED 1,817,192. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of AED 1,805,948.25 and AED 1,818,337.5 between 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 1,688,095 they are 18 % more affordable than the average price for Business Bay. The properties with the highest average price have 4 bedrooms, Their price is 550 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 3,318,731.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 1,388 / sq.feet, with an average AED 1,252 / sq.feet price in Business Bay. The properties with the highest average prices have 4 bedrooms. They are 808 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 1,503 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 1,688,095 it is 20 % cheaper than the average price in Business Bay. "Office" is seen as the second most affordable property type. The dearest property type is "Penthouse" followed by "Apartment". At a price of AED 1,902,319 it is 1431 % 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 985 / sq.feet followed by "Commercial" priced at AED 996 / sq.feet. "Penthouse" is the most costly type of property with a AED 83,518 / sq.feet cost followed by "Apartment" with an average price of AED 1,430 / sq.feet.