The prices in real estate in Dubai Harbour, 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 Dubai Harbour has had a strong decrease during the last 6 months. In April, the average price per sq.feet was AED 20,719. In May this price pretty much remained the same at a value of AED 21,567 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 21,143 to AED 21,820 per sq.feet. The price per sq.feet has had a considerable deflation of 46 % 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 21,481.5 to AED 9,935.5 during August, and September.
Based upon to the price in Dubai Harbour (cities), this has fallen considerably in the last 6 months. In our first sample month during April, the average price is AED 3,327,910. In May This price remains at AED 3,187,552. During the following two months (June, July) the average price fell 94 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from AED 3,158,477.5 to AED 1,363,286, which means a 43 % fall.