The prices in real estate in Mohammed Bin Rashid City, in the Dubai region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Mohammed Bin Rashid City has remained the same in the last 6 months. In September, the average price per sq.feet was AED 1,407. In October this price pretty much remained the same at a value of AED 1,387 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,397 to AED 1,373 per sq.feet. The price per sq.feet has increased 106 % 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 1,385 to AED 1,468.5 during January, and February.
Based upon to the price in Mohammed Bin Rashid City (cities), this has fallen considerably in the last 6 months. The average price for September is AED 5,581,330. During October the price had a considerable reduction till AED 4,281,392. During the following two months (November, December) 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 4,505,807 to AED 3,545,979, which means a 79 % 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 3,461,677 they are 69 % more affordable than the average price for Mohammed Bin Rashid City. The properties with the highest average price have 4 bedrooms, Their price is 127 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,267,421.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 5,230 / sq.feet, with an average AED 1,449 / sq.feet price in Mohammed Bin Rashid City. The properties with the highest average prices have 4 bedrooms. They are 791 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 8,387 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 3,461,677 it is 59 % cheaper than the average price in Mohammed Bin Rashid City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Land". At a price of AED 8,709,250 it is 252 % more expensive than the average price.
According to the average cost per sq.feet, the most expensive property type would be "Apartment" at an average cost of AED 1,513 / sq.feet followed by "Flat" priced at AED 1,533 / sq.feet. "Villa" is the most costly type of property with a AED 14,806 / sq.feet cost followed by "Duplex" with an average price of AED 11,290 / sq.feet.