The rent prices in real estate in Palm Jumeirah, in the Dubai region have slightly risen in the last couple of months. There has been a rise in the rent prices in this city.
The price per sq.feet in Palm Jumeirah has risen during the last 6 months. In February, the average price per sq.feet was AED 89.78. In March this price barely changed remaining at AED 88.53 per sq.feet. In the following two months the price per sq.feet has practically remained the same, going from AED 89.15 to AED 93.49 per sq.feet. The price per sq.feet has risen 108 % 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 91.32 to AED 98.4 during June, and July.
When referring to the price in Palm Jumeirah (cities), this has risen in the last 6 months. In our first sample month during February, the average price is AED 178,800. In March This price remains at AED 172,362. During the following two months (April, May) the price has had an average rise from AED 175,581 to AED 196,792.5. Based on an analysis of the first four prices and the last two months the average price has had a strong increase of 120 % during the last two months.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of AED 233,585 they are 45 % more affordable than the average price for Palm Jumeirah . The properties with the highest average price have 4 bedrooms, Their price is 87 % more expensive than the average. After that we have properties with 3 bedrooms priced at AED 221,612.
With regard to the average price per sq.feet, those properties with 3 bedrooms are the most affordable ones at a cost of AED 90.63 / sq.feet, with an average AED 97.97 / sq.feet price in Palm Jumeirah. The properties with the most expensive average prices have 1 bedroom. They are 3 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 95.93 / sq.feet.
The graph displaying the average rent prices displays the property type "Flat" as the most affordable one. At an cost of AED 233,585 it is 42 % more affordable than the average price in Palm Jumeirah. "Apartment" is seen as the second most affordable property type. The most expensive property type is "Penthouse" followed by "Villa". At a price of AED 523,998 it is 163 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Flat" at an average price of AED 84.13 / sq.feet followed by "Villa" priced at AED 97.88 / sq.feet. "Penthouse" is the most expensive type of property with a AED 880.53 / sq.feet value followed by "Land" with an average price of AED 510.7 / sq.feet.