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 February, the average price per sq.feet was AED 442. In the following month the price per sq.feet increased to AED 467. The price for the following two months in (April, May) had a considerable increment of 389 %. The price per sq.feet has had a considerable deflation of 42 % 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 1,111.25 to AED 466.5 during June, and July.
Based upon to the price in Al Hamra Village (cities), this has gone up in the last 6 months. In our first sample month during February, the average price is AED 625,600. In March This price remains at AED 633,955. During the following two months (April, May) the average price had a considerable increase of 130 % with regard to the previous two months. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 88 %, going from AED 725,575.75 to AED 641,214.5 in 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 650,186 they are 30 % more affordable than the average price for Al Hamra Village. The properties with the highest average price have 4 bedrooms, Their price is 143 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 1,111,250.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 402 / sq.feet, with an average AED 483 / sq.feet price in Al Hamra Village. The properties with the highest average prices have 4 bedrooms. They are 5 % more expensive than the average followed by properties with 1 bedroom with a price at AED 481 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 650,186 it is 40 % cheaper than the average price in Al Hamra Village. "Townhouse" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Townhouse". At a price of AED 1,322,222 it is 443 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of AED 471 / sq.feet followed by "Townhouse" priced at AED 482 / sq.feet. "Villa" is the most costly type of property with a AED 596 / sq.feet cost followed by "Townhouse" with an average price of AED 482 / sq.feet.