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 March, the average price per sq.feet was AED 1,549. In the following month the price per sq.feet increased considerably to AED 6,201. The price for the following two months in (May, June) had a considerable increment of 280 %. The price per sq.feet has had a considerable deflation of 41 % 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 7,371.5 to AED 3,018.5 during July, and August.
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 March, is AED 4,786,992. During April the price went through a considerable rise reaching AED 6,079,172. During the following two months (May, June) the average price had a considerable increase of 115 % 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 93 %, going from AED 5,851,032 to AED 5,433,473.5 in July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 5,098,117 they are 69 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 105 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 6,569,419.
With regard to the average price per sq.feet , those properties with 1 bedroom are the most costly ones at a cost of AED 18,198 / sq.feet, with an average AED 2,120 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 4 bedrooms. They are 999 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 22,693 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 5,098,117 it is 52 % cheaper than the average price in Jumeirah Area. "Apartment" is seen as the second most affordable property type. The dearest property type is "Penthouse" followed by "Villa". At a price of AED 17,017,677 it is 407 % 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 1,968 / sq.feet followed by "Land" priced at AED 8,551 / sq.feet. "Penthouse" is the most costly type of property with a AED 27,509 / sq.feet cost followed by "Villa" with an average price of AED 24,491 / sq.feet.