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 February, the average price per sq.feet was AED 1,425. In March this price pretty much remained the same at a value of AED 1,439 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,432 to AED 1,422.5 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 1,427.25 to AED 1,356.5 during June y July
Based upon to the price in Mohammed Bin Rashid City (cities), this has fallen considerably in the last 6 months. The average price for February is AED 4,681,991. During March the price had a considerable reduction till AED 3,454,115. During the following two months (April, May) the average price fell 87 % 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 gone up 109 % 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 3,516,262 they are 70 % more affordable than the average price for Mohammed Bin Rashid City. The properties with the highest average price have 4 bedrooms, Their price is 66 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,194,204.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of AED 2,572 / sq.feet, with an average AED 1,342 / sq.feet price in Mohammed Bin Rashid City. The properties with the highest average prices have 1 bedroom. They are 416 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 5,555 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 3,516,262 it is 61 % 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 "Commercial" followed by "Land". At a price of AED 18,610,500 it is 1852 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Commercial" at an average cost of AED 978 / sq.feet followed by "Flat" priced at AED 1,527 / sq.feet. "Villa" is the most costly type of property with a AED 12,481 / sq.feet cost followed by "Townhouse" with an average price of AED 7,778 / sq.feet.