The prices in real estate in Dubai Science Park, 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 Science Park has had a strong decrease during the last 6 months. In April, the average price per sq.feet was AED 2,025. In the following month the price per sq.feet increased considerably to AED 3,794. The price for the following two months in (June, July) had a considerable decrease of 34 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 55 % 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 1,955.5 to AED 1,076 during August, and September.
Based upon to the price in Dubai Science Park (cities), this has gone up considerably in the last 6 months. The price in April is AED 722,983, rising in May till AED 769,102. During the following two months (June, July) the average price had a considerable increase of 207 % 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 1,143,683.75 to AED 913,476, which means a 80 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 888,423 they are 8 % more affordable than the average price for Dubai Science Park. The properties with the highest average price have 4 bedrooms, Their price is 450 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,998,055.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 993 / sq.feet, with an average AED 1,067 / sq.feet price in Dubai Science Park. The properties with the highest average prices have 4 bedrooms. They are 13 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 1,131 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 888,423 it is 8 % cheaper than the average price in Dubai Science Park. "Villa" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Apartment". At a price of AED 815,470 it is 405 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of AED 1,059 / sq.feet followed by "Villa" priced at AED 1,216 / sq.feet. "Villa" is the most costly type of property with a AED 1,216 / sq.feet cost followed by "Apartment" with an average price of AED 1,059 / sq.feet.