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 January, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to AED 1,730. The price for the following two months in (March, April) had a considerable increment of 211 %. The price per sq.feet has had a considerable increase of 135 % 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 1,346.75 to AED 1,817 during May, and June.
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 January, is . During February the price went through a considerable rise reaching AED 3,290,852. During the following two months (March, April) the average price had a considerable increase of 203 % 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 154 % 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 3,891,300 they are 60 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 78 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,376,815.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 1,733 / sq.feet, with an average AED 1,784 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 2 bedrooms. They are 12 % more expensive than the average followed by properties with 4 bedrooms with a price at AED 1,809 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 3,891,300 it is 33 % cheaper than the average price in Jumeirah Area. "Flat" is seen as the second most affordable property type. The dearest property type is "Land" followed by "Penthouse". At a price of AED 10,846,733 it is 410 % 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 1,115 / sq.feet followed by "Townhouse" priced at AED 1,256 / sq.feet. "Flat" is the most costly type of property with a AED 2,529 / sq.feet cost followed by "Penthouse" with an average price of AED 1,963 / sq.feet.