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 February, the average price per sq.feet was AED 1,181. In the following month the price per sq.feet increased considerably to AED 2,561. In the following two months the price per sq.feet has increased 107 %, going from AED 1,871 to AED 1,997 per sq.feet. The price per sq.feet has had a considerable deflation of 71 % 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 1,934 to AED 1,372.5 during June, and July.
Based upon to the price in Deira (cities), this has fallen considerably in the last 6 months. The average price for February is AED 11,976,720. During March the price had a slight fall till AED 10,674,164. During the following two months (April, May) the average price had a considerable reduction of 78 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 86 %, going from AED 10,080,834 to AED 8,706,272 in June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 2 bedrooms are the cheapest ones. At a price of AED 13,787,806 they are 90 % more affordable than the average price for Deira. The properties with the lowest average price have 1 bedroom, Their price is 32 % cheaper than the average. After that we have properties with 4 bedrooms priced at AED 2,670,443.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 803 / sq.feet, with an average AED 1,808 / sq.feet price in Deira. The properties with the highest average prices have 1 bedroom. They are 1 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 853 / sq.feet.
The graph displaying the average prices displays the property type "Building" as the most affordable one. At an cost of AED 13,787,806 it is 90 % cheaper than the average price in Deira. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Townhouse". At a price of AED 14,613,281 it is 79 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Villa" at an average cost of AED 870 / sq.feet followed by "Apartment" priced at AED 908 / sq.feet. "Commercial" is the most costly type of property with a AED 2,456 / sq.feet cost followed by "Townhouse" with an average price of AED 1,358 / sq.feet.