The prices in real estate in Meydan City, in the Dubai region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Meydan City has increased during the last 6 months. In August, the average price per sq.feet was AED 1,162. In September this price pretty much remained the same at a value of AED 1,202 per sq.feet. In the following two months the price per sq.feet has increased 112 %, going from AED 1,182 to AED 1,328 per sq.feet. The price per sq.feet has increased 105 % 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 1,255 to AED 1,320 during December, and January.
Based upon to the price in Meydan City (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during August, is AED 1,750,798. During September the price went through a considerable rise reaching AED 2,217,960. During the following two months (October, November) the average price had a considerable increase of 342 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 154 % 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 6,676,947 they are 83 % more affordable than the average price for Meydan City. The properties with the lowest average price have 4 bedrooms, Their price is 35 % cheaper than the average. After that we have properties with 3 bedrooms priced at AED 3,645,336.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,188 / sq.feet, with an average AED 1,302 / sq.feet price in Meydan City. The properties with the highest average prices have 3 bedrooms. They are 10 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 1,351 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 6,676,947 it is 93 % cheaper than the average price in Meydan City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Apartment". At a price of AED 1,463,242 it is 72 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of AED 394 / sq.feet followed by "Apartment" priced at AED 1,259 / sq.feet. "Studio" is the cheapest type of property with a AED 1,275 / sq.feet value followed by "Apartment" with an average price of AED 1,259 / sq.feet.