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 January, the average price per sq.feet was AED 1,542. In the following month the price per sq.feet decreased to AED 1,427. The price for the following two months in (March, April) decreased 93 % 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 1,435 to AED 1,365.5 during May y June
Based upon to the price in Business Bay (cities), these have remained the same in the last 6 months. The price in January is AED 1,721,464, rising in February till AED 1,859,064. In the following two months the average price has remained the same with regard to the previous two months from AED 1,790,264 to AED 1,829,402.5. 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 1,809,833.25 and AED 1,758,946.5 between May and June.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,651,731 they are 24 % more affordable than the average price for Business Bay. The properties with the highest average price have 4 bedrooms, Their price is 357 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,980,125.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 1,390 / sq.feet, with an average AED 1,403 / sq.feet price in Business Bay. The properties with the highest average prices have 4 bedrooms. They are 21 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 1,596 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most costly one. At an cost of AED 1,651,731 it is 1 % more expensive than the average price in Business Bay. "Office" is seen as the second dearest property type. The dearest property type is "House" followed by "Penthouse". At a price of AED 21,063,225 it is 2045 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of AED 686 / sq.feet followed by "Office" priced at AED 1,020 / sq.feet. "Penthouse" is the most costly type of property with a AED 2,993 / sq.feet cost followed by "Apartment" with an average price of AED 1,529 / sq.feet.