The prices in real estate in Jumeirah Lake Towers, 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 Lake Towers has increased strongly during the last 6 months. In December, the average price per sq.feet was AED 1,044. In the following month the price per sq.feet increased to AED 1,108. In the following two months the price per sq.feet has increased 111 %, going from AED 1,076 to AED 1,191.5 per sq.feet. The price per sq.feet has had a considerable increase of 116 % 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 1,133.75 to AED 1,310.5 during April, and May.
Based upon to the price in Jumeirah Lake Towers (cities), this has gone up in the last 6 months. In our first sample month during December, the average price is AED 1,288,018. In January This price remains at AED 1,226,090. During the following two months (February, March) the price has had an average incrementation from AED 1,257,054 to AED 1,364,953.5. Based on an analysis of the first four prices and the last two months the average price has gone up 110 % 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 1,540,677 they are 16 % more affordable than the average price for Jumeirah Lake Towers. The properties with the highest average price have 4 bedrooms, Their price is 397 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 2,962,601.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,327 / sq.feet, with an average AED 1,405 / sq.feet price in Jumeirah Lake Towers. The properties with the highest average prices have 4 bedrooms. They are 39 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 1,511 / sq.feet.
The graph displaying the average prices displays the property type "Studio" as the most affordable one. At an cost of AED 1,540,677 it is 58 % cheaper than the average price in Jumeirah Lake Towers. "Office" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Penthouse". At a price of AED 6,036,166 it is 451 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Office" at an average cost of AED 1,109 / sq.feet followed by "Apartment" priced at AED 1,381 / sq.feet. "Villa" is the most costly type of property with a AED 2,562 / sq.feet cost followed by "Commercial" with an average price of AED 2,047 / sq.feet.