The prices in real estate in Greens, 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 Greens has had a strong decrease during the last 6 months. In March, the average price per sq.feet was AED 803. In the following month the price per sq.feet decreased to AED 749. The price for the following two months in (May, June) had a considerable decrease of 64 with regard to the prior two months. The price per sq.feet has decreased 93 % 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 636.5 to AED 589.5 during July, and August.
Based upon to the price in Greens (cities), these have remained the same in the last 6 months. In our first sample month during March, the average price is AED 1,404,698. In April This price remains at AED 1,415,389. In the following two months the average price has remained the same with regard to the previous two months from AED 1,410,043.5 to AED 1,442,747. 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 1,426,395.25 and AED 1,407,421 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,363,509 they are 7 % more affordable than the average price for Greens. The properties with the highest average price have 4 bedrooms, Their price is 71 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,085,821.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 376 / sq.feet, with an average AED 621 / sq.feet price in Greens. The properties with the highest average prices have 2 bedrooms. They are 76 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 1,011 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 1,363,509 it is 6 % cheaper than the average price in Greens. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 3,256,740 it is 145 % 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 559 / sq.feet followed by "Townhouse" priced at AED 680 / sq.feet. "Commercial" is the most costly type of property with a AED 1,347 / sq.feet cost followed by "Office" with an average price of AED 1,329 / sq.feet.