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 February, the average price per sq.feet was AED 1,704. In March this price pretty much remained the same at a value of AED 1,676 per sq.feet. The price for the following two months in (April, May) decreased 93 % with regard to the prior two months. The price per sq.feet has had a considerable increase of 224 % 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 1,628.25 to AED 3,651 during June, and July.
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 February, is AED 4,547,003. During March the price went through a considerable rise reaching AED 6,261,042. During the following two months (April, May) the average price fell 91 % 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 gone up 107 % 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 5,833,941 they are 64 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 5 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,886,727.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the most costly ones at a cost of AED 13,920 / sq.feet, with an average AED 5,730 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 1 bedroom. They are 184 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 15,108 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 5,833,941 it is 47 % cheaper than the average price in Jumeirah Area. "Flat" is seen as the second most affordable property type. The dearest property type is "Duplex" followed by "Villa". At a price of AED 9,617,960 it is 204 % 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 2,259 / sq.feet followed by "Duplex" priced at AED 2,358 / sq.feet. "Apartment" is the most costly type of property with a AED 19,668 / sq.feet cost followed by "Villa" with an average price of AED 13,754 / sq.feet.