The prices in real estate in DAMAC Hills, 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 DAMAC Hills has increased strongly during the last 6 months. In July, the average price per sq.feet was AED 4,534. In the following month the price per sq.feet increased considerably to AED 5,612. In the following two months the price per sq.feet has increased 115 %, going from AED 5,073 to AED 5,814.5 per sq.feet. The price per sq.feet has decreased 85 % 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 5,443.75 to AED 4,633.5 during November, and December.
Based upon to the price in DAMAC Hills (cities), this has gone downing the last 6 months. In our first sample month during July, the average price is AED 1,631,501. In August This price remains at AED 1,562,819. During the following two months (September, October) the average price fell 94 % 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 1,550,272.25 to AED 1,281,994.5, which means a 83 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 1,255,508 they are 44 % more affordable than the average price for DAMAC Hills. The properties with the highest average price have 4 bedrooms, Their price is 61 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,000,375.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the most costly ones at a cost of AED 5,523 / sq.feet, with an average AED 2,266 / sq.feet price in DAMAC Hills. The properties with the highest average prices have 1 bedroom. They are 251 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 6,177 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 1,255,508 it is 40 % cheaper than the average price in DAMAC Hills. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "House". At a price of AED 1,987,500 it is 217 % 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 855 / sq.feet followed by "House" priced at AED 934 / sq.feet. "Villa" is the most costly type of property with a AED 8,257 / sq.feet cost followed by "Townhouse" with an average price of AED 8,002 / sq.feet.