The prices in real estate in Al Hamra Village, in the Ras al-Khaimah 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 Hamra Village has increased strongly during the last 6 months. In April, the average price per sq.feet was AED 484. In the following month the price per sq.feet increased considerably to AED 3,052. The price for the following two months in (June, July) had a considerable decrease of 26 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 21 % 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 1,117.25 to AED 234 during August, and September.
Based upon to the price in Al Hamra Village (cities), this has fallen considerably in the last 6 months. The average price during our first sample month during April, is AED 726,094. During May the price went through a considerable rise reaching AED 916,654. During the following two months (June, July) the average price had a considerable reduction of 78 % 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 731,294.25 to AED 292,241.5, which means a 40 % fall.