The prices in real estate in Mohammed Bin Rashid 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 Mohammed Bin Rashid City has increased during the last 6 months. In May, the average price per sq.feet was AED 1,284. In the following month the price per sq.feet increased to AED 1,383. In the following two months the price per sq.feet has barely changed, going from AED 1,333.5 to AED 1,388 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of AED 1,360.75 to AED 1,427.5 during September y October
Based upon to the price in Mohammed Bin Rashid City (cities), these have remained the same in the last 6 months. The average price for May is AED 3,935,292. During June the price had a considerable reduction till AED 3,174,501. In the following two months the average price has remained the same with regard to the previous two months from AED 3,554,896.5 to AED 3,513,458. Based on an analysis of the first four prices and the last two months the average price has risen strongly 122 % 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 4,502,995 they are 75 % more affordable than the average price for Mohammed Bin Rashid City. The properties with the highest average price have 4 bedrooms, Their price is 37 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,584,487.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 1,280 / sq.feet, with an average AED 1,402 / sq.feet price in Mohammed Bin Rashid City. The properties with the lowest average prices have 2 bedrooms. They are 1 % cheaper than the average followed by properties with 4 bedrooms with a price at AED 1,322 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 4,502,995 it is 69 % cheaper than the average price in Mohammed Bin Rashid City. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 3,845,065 it is 148 % 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 1,286 / sq.feet followed by "Townhouse" priced at AED 1,295 / sq.feet. "Flat" is the most costly type of property with a AED 1,555 / sq.feet cost followed by "Villa" with an average price of AED 1,375 / sq.feet.