The prices in real estate in Jumeirah Area, in the Dubai region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per sq.feet in Jumeirah Area has fallen in the last 6 months. In March, the average price per sq.feet was AED 1,865. In April this price pretty much remained the same at a value of AED 1,792 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,828.5 to AED 1,817 per sq.feet. The price per sq.feet has decreased 94 % 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 1,822.75 to AED 1,707 during July, and August.
Based upon to the price in Jumeirah Area (cities), this has gone up in the last 6 months. The average price for March is AED 3,518,105. During April the price had a slight fall till AED 3,146,153. During the following two months (May, June) the average price had a considerable increase of 115 % 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 123 % 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 4,873,090 they are 55 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 30 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,757,679.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of AED 1,461 / sq.feet, with an average AED 1,771 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 2 bedrooms. They are 6 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,753 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 4,873,090 it is 37 % 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 13,801,138 it is 705 % 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 1,068 / sq.feet followed by "Townhouse" priced at AED 1,242 / sq.feet. "Penthouse" is the most costly type of property with a AED 4,178 / sq.feet cost followed by "Flat" with an average price of AED 2,287 / sq.feet.