The prices in real estate in The Marina, in the Dubai region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in The Marina has had a strong decrease during the last 6 months. In August, the average price per sq.feet was AED 1,800. In September this price pretty much remained the same at a value of AED 1,836 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,818 to AED 1,766.5 per sq.feet. The price per sq.feet has had a considerable deflation of 51 % 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 1,792.25 to AED 913.5 during December, and January.
Based upon to the price in The Marina (cities), this has gone downing the last 6 months. The average price during our first sample month during August, is AED 4,736,250. During September the price went through a considerable rise reaching AED 7,064,286. During the following two months (October, November) the average price fell 95 % 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 5,751,473 to AED 1,131,944.5, which means a 20 % fall.