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 March, the average price per sq.feet was AED 976. In April this price pretty much remained the same at a value of AED 969 per sq.feet. The price for the following two months in (May, June) had a considerable increment of 121 %. The price per sq.feet has had a considerable increase of 142 % 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 1,074 to AED 1,529.5 during July, and August.
Based upon to the price in Deira (cities), this has gone up considerably in the last 6 months. In our first sample month during March, the average price is AED 8,045,539. In April This price remains at AED 7,917,925. During the following two months (May, June) the average price had a considerable increase of 147 % 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 9,875,060 and AED 9,409,716 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 7,393,893 they are 64 % more affordable than the average price for Deira. The properties with the highest average price have 4 bedrooms, Their price is 176 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 7,529,791.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of AED 2,296 / sq.feet, with an average AED 1,995 / sq.feet price in Deira. The properties with the highest average prices have 4 bedrooms. They are 21 % more expensive than the average followed by properties with 1 bedroom with a price at AED 2,390 / sq.feet.
The graph displaying the average prices displays the property type "Townhouse" as the most affordable one. At an cost of AED 7,393,893 it is 81 % 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 "Land". At a price of AED 14,485,187 it is 176 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of AED 670 / sq.feet followed by "Townhouse" priced at AED 1,223 / sq.feet. "Apartment" is the most costly type of property with a AED 2,374 / sq.feet cost followed by "Villa" with an average price of AED 1,979 / sq.feet.