The prices in real estate in Dubai Festival City, in the Dubai region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Dubai Festival City has increased during the last 6 months. In April, the average price per sq.feet was AED 1,180. In May this price pretty much remained the same at a value of AED 1,203 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,191.5 to AED 1,243 per sq.feet. The price per sq.feet has increased 106 % 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 1,217.25 to AED 1,288 during August, and September.
Based upon to the price in Dubai Festival City (cities), this has gone downing the last 6 months. In our first sample month during April, the average price is AED 3,027,115. In May This price remains at AED 3,004,768. During the following two months (June, July) the average price fell 88 % 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 2,831,957 and AED 2,729,783 between August and September.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 2,619,351 they are 40 % more affordable than the average price for Dubai Festival City. The properties with the highest average price have 4 bedrooms, Their price is 115 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 3,264,066.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 1,090 / sq.feet, with an average AED 1,257 / sq.feet price in Dubai Festival City. The properties with the highest average prices have 4 bedrooms. They are 24 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 1,370 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 2,619,351 it is 16 % cheaper than the average price in Dubai Festival City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Commercial". At a price of AED 3,434,053 it is 150 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of AED 991 / sq.feet followed by "Flat" priced at AED 1,215 / sq.feet. "Villa" is the most costly type of property with a AED 1,786 / sq.feet cost followed by "Apartment" with an average price of AED 1,295 / sq.feet.