The prices in real estate in Jumeirah Area, in the Dubai region have had a minor rise in the last couple of months. The real estate prices for second hand homes have risen in this city.
The price per sq.feet in Jumeirah Area has increased during the last 6 months. In July, the average price per sq.feet was AED 1,643. In the following month the price per sq.feet increased to AED 1,771. In the following two months the price per sq.feet has barely changed, going from AED 1,707 to AED 1,688.5 per sq.feet. The price per sq.feet has increased 107 % 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 1,697.75 to AED 1,809 during November, and December.
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 July, is AED 3,983,624. During August the price went through a considerable rise reaching AED 4,873,090. In the following two months the average price has remained the same with regard to the previous two months from AED 4,428,357 to AED 4,623,931. Based on an analysis of the first four prices and the last two months the average price has gone up 108 % 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 4,749,821 they are 50 % more affordable than the average price for Jumeirah Area. The properties with the highest average price have 4 bedrooms, Their price is 70 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,533,737.
With regard to the average price per sq.feet , those properties with 4 bedrooms are the cheapest ones at a cost of AED 1,454 / sq.feet, with an average AED 1,855 / sq.feet price in Jumeirah Area. The properties with the highest average prices have 2 bedrooms. They are 23 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,833 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 4,749,821 it is 29 % 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 "Land". At a price of AED 12,523,839 it is 240 % 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 823 / sq.feet followed by "Townhouse" priced at AED 1,220 / sq.feet. "Flat" is the most costly type of property with a AED 2,536 / sq.feet cost followed by "Duplex" with an average price of AED 2,183 / sq.feet.