The prices in real estate in Deira, in the Dubai region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Deira has had a strong decrease during the last 6 months. In October, the average price per sq.feet was AED 3,169. In the following month the price per sq.feet decreased considerably to AED 1,889. The price for the following two months in (December, January) had a considerable increment of 147 %. The price per sq.feet has had a considerable deflation of 44 % 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 3,120.25 to AED 1,360.5 during February, and March.
Based upon to the price in Deira (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during October, is AED 3,671,733. During November the price went through a considerable rise reaching AED 5,636,000. In the following two months the average price has remained the same with regard to the previous two months from AED 4,653,866.5 to AED 4,462,567.5. Based on an analysis of the first four prices and the last two months the average price has gone up 107 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of AED 5,299,958 they are 75 % more affordable than the average price for Deira. The properties with the lowest average price have 1 bedroom, Their price is 0 % cheaper than the average. After that we have properties with 4 bedrooms priced at AED 2,686,525.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 423 / sq.feet, with an average AED 1,561 / sq.feet price in Deira. The properties with the lowest average prices have 2 bedrooms. They are 42 % cheaper than the average followed by properties with 4 bedrooms with a price at AED 831 / sq.feet.
The graph displaying the average prices displays the property type "Building" as the most affordable one. At an cost of AED 5,299,958 it is 73 % cheaper than the average price in Deira. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Commercial". At a price of AED 24,809,465 it is 562 % 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 876 / sq.feet followed by "Apartment" priced at AED 914 / sq.feet. "Villa" is the most costly type of property with a AED 2,648 / sq.feet cost followed by "Commercial" with an average price of AED 2,474 / sq.feet.