The prices in real estate in Al Furjan, in the Dubai region have had a strong rise in the last couple of months. The real estate prices for second hand homes have gone through a strong increase in this city.
The price per sq.feet in Al Furjan has increased strongly during the last 6 months. In January, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to AED 885. The price for the following two months in (March, April) had a considerable increment of 187 %. The price per sq.feet has had a considerable increase of 134 % 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 634 to AED 852.5 during May, and June.
Based upon to the price in Al Furjan (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during January, is . During February the price went through a considerable rise reaching AED 1,589,343. During the following two months (March, April) the average price had a considerable increase of 198 % 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 risen strongly 137 % 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 1,504,471 they are 54 % more affordable than the average price for Al Furjan. The properties with the highest average price have 4 bedrooms, Their price is 118 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,056,628.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 776 / sq.feet, with an average AED 865 / sq.feet price in Al Furjan. The properties with the highest average prices have 1 bedroom. They are 10 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 920 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,504,471 it is 69 % cheaper than the average price in Al Furjan. "Flat" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Villa". At a price of AED 3,217,769 it is 121 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Land" at an average cost of AED 260 / sq.feet followed by "Villa" priced at AED 735 / sq.feet. "Studio" is the most costly type of property with a AED 1,117 / sq.feet cost followed by "Flat" with an average price of AED 981 / sq.feet.