The prices in real estate in Meydan, 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 Meydan has increased strongly during the last 6 months. In February, the average price per sq.feet was AED 1,089. In the following month the price per sq.feet increased considerably to AED 1,357. The price for the following two months in (April, May) had a considerable increment of 209 %. The price per sq.feet has had a considerable increase of 434 % 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 1,888.5 to AED 8,190.5 during June, and July.
Based upon to the price in Meydan (cities), this has fallen considerably in the last 6 months. In our first sample month during February, the average price is AED 2,341,686. In March This price remains at AED 2,445,329. During the following two months (April, May) the average price had a considerable reduction of 83 % 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 2,192,897 to AED 1,434,843.5, which means a 65 % 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 1,192,691 they are 25 % more affordable than the average price for Meydan. The properties with the highest average price have 4 bedrooms, Their price is 209 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,245,780.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of AED 1,143 / sq.feet, with an average AED 3,942 / sq.feet price in Meydan. The properties with the highest average prices have 1 bedroom. They are 178 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 8,694 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 1,192,691 it is 7 % cheaper than the average price in Meydan. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 3,198,385 it is 668 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of AED 1,021 / sq.feet followed by "Flat" priced at AED 1,270 / sq.feet. "Villa" is the cheapest type of property with a AED 2,153 / sq.feet value followed by "Apartment" with an average price of AED 1,500 / sq.feet.