The prices in real estate in Palm Jumeirah, 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 Palm Jumeirah 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 1,946. The price for the following two months in (March, April) had a considerable increment of 193 %. The price per sq.feet has had a considerable increase of 118 % 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 1,427.75 to AED 1,691.5 during May, and June.
Based upon to the price in Palm Jumeirah (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 5,721,535. During the following two months (March, April) the average price had a considerable increase of 177 % 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 122 % 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 4,255,283 they are 59 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 182 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,829,414.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,359 / sq.feet, with an average AED 1,655 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 25 % more expensive than the average followed by properties with 3 bedrooms with a price at AED 1,616 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 4,255,283 it is 39 % cheaper than the average price in Palm Jumeirah. "Flat" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Penthouse". At a price of AED 15,394,826 it is 356 % 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 886 / sq.feet followed by "Townhouse" priced at AED 1,263 / sq.feet. "Villa" is the most costly type of property with a AED 2,670 / sq.feet cost followed by "Penthouse" with an average price of AED 2,502 / sq.feet.