The prices in real estate in Deira, in the Dubai region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Deira has increased strongly during the last 6 months. In April, the average price per sq.feet was AED 1,459. In May this price pretty much remained the same at a value of AED 1,500 per sq.feet. The price for the following two months in (June, July) had a considerable increment of 145 %. The price per sq.feet has had a considerable increase of 169 % 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 1,810 to AED 3,059 during August, and September.
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 April, is AED 3,807,103. During May the price went through a considerable rise reaching AED 15,290,714. During the following two months (June, July) the price has had an average incrementation from AED 9,548,908 to AED 10,060,732. Based on an analysis of the first four prices and the last two months the average price has gone up 112 % 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 10,850,253 they are 88 % more affordable than the average price for Deira. The properties with the lowest average price have 1 bedroom, Their price is 13 % cheaper than the average. After that we have properties with 4 bedrooms priced at AED 2,689,215.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 766 / sq.feet, with an average AED 2,289 / sq.feet price in Deira. The properties with the lowest average prices have 1 bedroom. They are 10 % cheaper than the average followed by properties with 2 bedrooms with a price at AED 912 / sq.feet.
The graph displaying the average prices displays the property type "Building" as the most affordable one. At an cost of AED 10,850,253 it is 87 % 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 24,834,300 it is 224 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of AED 877 / sq.feet followed by "Apartment" priced at AED 915 / sq.feet. "Villa" is the most costly type of property with a AED 2,651 / sq.feet cost followed by "Commercial" with an average price of AED 2,477 / sq.feet.