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 February, the average price per sq.feet was AED 972. In March this price pretty much remained the same at a value of AED 941 per sq.feet. The price for the following two months in (April, May) had a considerable increment of 912 %. The price per sq.feet has had a considerable increase of 129 % 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 4,838.25 to AED 6,252.5 during June, and July.
Based upon to the price in DAMAC Hills (cities), this has gone up in the last 6 months. The price in February is AED 1,582,754, rising in March till AED 1,772,216. During the following two months (April, May) the price has had an average incrementation from AED 1,677,485 to AED 1,796,198. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 90 %, going from AED 1,736,841.5 to AED 1,570,560.5 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 1,730,406 they are 59 % more affordable than the average price for DAMAC Hills. The properties with the highest average price have 4 bedrooms, Their price is 91 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,098,602.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the most costly ones at a cost of AED 8,148 / sq.feet, with an average AED 5,439 / sq.feet price in DAMAC Hills. The properties with the highest average prices have 1 bedroom. They are 98 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 9,823 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 1,730,406 it is 46 % 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 "Townhouse". At a price of AED 2,400,263 it is 178 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "House" at an average cost of AED 787 / sq.feet followed by "Flat" priced at AED 1,047 / sq.feet. "Apartment" is the most costly type of property with a AED 10,719 / sq.feet cost followed by "Villa" with an average price of AED 9,626 / sq.feet.