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 March, the average price per sq.feet was AED 1,254. In April this price pretty much remained the same at a value of AED 1,274 per sq.feet. The price for the following two months in (May, June) had a considerable decrease of 84 with regard to the prior two months. The price per sq.feet has increased 107 % 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 1,165.75 to AED 1,242 during July, and August.
Based upon to the price in Business Bay (cities), this has gone downing the last 6 months. The average price for March is AED 1,577,943. During April the price had a slight fall till AED 1,371,903. During the following two months (May, June) the average price fell 90 % with regard to the previous two months. 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 1,398,464.75 and AED 1,360,736 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,363,872 they are 23 % more affordable than the average price for Business Bay. The properties with the highest average price have 4 bedrooms, Their price is 293 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,820,651.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of AED 1,132 / sq.feet, with an average AED 1,230 / sq.feet price in Business Bay. The properties with the highest average prices have 3 bedrooms. They are 10 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,303 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,363,872 it is 49 % cheaper than the average price in Business Bay. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Commercial". At a price of AED 1,695,600 it is 240 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of AED 894 / sq.feet followed by "Villa" priced at AED 956 / sq.feet. "Studio" is the most costly type of property with a AED 1,429 / sq.feet cost followed by "Apartment" with an average price of AED 1,311 / sq.feet.