The prices in real estate in Motor 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 Motor City has increased during the last 6 months. In March, the average price per sq.feet was AED 804. In April this price pretty much remained the same at a value of AED 771 per sq.feet. In the following two months the price per sq.feet has increased 106 %, going from AED 787.5 to AED 837.5 per sq.feet. The price per sq.feet has increased 112 % 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 812.5 to AED 911 during July, and August.
Based upon to the price in Motor City (cities), these have remained the same in the last 6 months. The average price for March is AED 1,547,577. During April the price had a slight fall till AED 1,336,084. During the following two months (May, June) the price has had an average incrementation from AED 1,441,830.5 to AED 1,616,546.5. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of AED 1,529,188.5 and AED 1,569,862 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,595,350 they are 35 % more affordable than the average price for Motor City. The properties with the highest average price have 4 bedrooms, Their price is 187 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,413,883.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 1,011 / sq.feet, with an average AED 949 / sq.feet price in Motor City. The properties with the highest average prices have 3 bedrooms. They are 198 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 2,817 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 1,595,350 it is 46 % cheaper than the average price in Motor City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Commercial" followed by "Townhouse". At a price of AED 3,070,000 it is 341 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of AED 569 / sq.feet followed by "Apartment" priced at AED 914 / sq.feet. "Townhouse" is the most costly type of property with a AED 6,631 / sq.feet cost followed by "Commercial" with an average price of AED 1,030 / sq.feet.