The prices in real estate in Motor City, in the Dubai region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Motor City has fallen in the last 6 months. In February, the average price per sq.feet was AED 857. In March this price pretty much remained the same at a value of AED 828 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 842.5 to AED 804.5 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 823.5 to AED 794 during June y July
Based upon to the price in Motor City (cities), this has gone downing the last 6 months. In our first sample month during February, the average price is AED 1,502,408. In March This price remains at AED 1,495,628. During the following two months (April, May) the average price fell 91 % with regard to the previous two months. 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 1,433,707.75 and AED 1,441,046 between June and July.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,432,920 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 156 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,191,578.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 750 / sq.feet, with an average AED 799 / sq.feet price in Motor City. The properties with the highest average prices have 4 bedrooms. They are 21 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 802 / sq.feet.
The graph displaying the average prices displays the property type "Commercial" as the most affordable one. At an cost of AED 1,432,920 it is 31 % cheaper than the average price in Motor City. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 3,563,453 it is 206 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of AED 658 / sq.feet followed by "Flat" priced at AED 676 / sq.feet. "Villa" is the most costly type of property with a AED 1,061 / sq.feet cost followed by "Commercial" with an average price of AED 908 / sq.feet.