The prices in real estate in Jumeirah Area, 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 Jumeirah Area has increased strongly during the last 6 months. In November, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to . The price for the following two months in (January, February) had a considerable increment of 2147483647 %. The price per sq.feet has had a considerable increase of 423 % 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 432.5 to AED 1,828.5 during March, and April.
Based upon to the price in Jumeirah Area (cities), this has gone up considerably in the last 6 months. The average price during our first sample month during November, is . During December the price went through a considerable rise reaching . During the following two months (January, February) the average price had a considerable increase of 2147483647 % 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 405 % 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 3,146,153 they are 54 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 139 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,097,778.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 1,741 / sq.feet, with an average AED 1,792 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 3 bedrooms. They are 15 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 1,920 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 3,146,153 it is 15 % cheaper than the average price in Jumeirah Area. "Flat" is seen as the second most affordable property type. The dearest property type is "Penthouse" followed by "Land". At a price of AED 16,985,304 it is 872 % 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 989 / sq.feet followed by "Villa" priced at AED 1,499 / sq.feet. "Penthouse" is the most costly type of property with a AED 3,386 / sq.feet cost followed by "Flat" with an average price of AED 2,204 / sq.feet.