The prices in real estate in Dubai Silicon Oasis, 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 Dubai Silicon Oasis has increased strongly during the last 6 months. In May, the average price per sq.feet was AED 474. In the following month the price per sq.feet increased to AED 526. The price for the following two months in (July, August) had a considerable increment of 115 %. The price per sq.feet has had a considerable increase of 129 % 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 537.5 to AED 693.5 during September, and October.
Based upon to the price in Dubai Silicon Oasis (cities), this has gone up in the last 6 months. In our first sample month during May, the average price is AED 679,335. In June This price remains at AED 680,265. During the following two months (July, August) the price has had an average incrementation from AED 679,800 to AED 763,966. Based on an analysis of the first four prices and the last two months the average price has gone up 111 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 888,292 they are 24 % more affordable than the average price for Dubai Silicon Oasis. The properties with the highest average price have 4 bedrooms, Their price is 277 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,074,541.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 615 / sq.feet, with an average AED 647 / sq.feet price in Dubai Silicon Oasis. The properties with the highest average prices have 4 bedrooms. They are 30 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 799 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 888,292 it is 62 % cheaper than the average price in Dubai Silicon Oasis. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Commercial". At a price of AED 1,042,563 it is 229 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of AED 512 / sq.feet followed by "Apartment" priced at AED 636 / sq.feet. "Commercial" is the most costly type of property with a AED 751 / sq.feet cost followed by "Studio" with an average price of AED 749 / sq.feet.