The prices in real estate in Palm Jumeirah, 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 Palm Jumeirah has increased during the last 6 months. In July, the average price per sq.feet was AED 1,848. In August this price pretty much remained the same at a value of AED 1,826 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,837 to AED 1,882.5 per sq.feet. The price per sq.feet has increased 111 % 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 1,859.75 to AED 2,061.5 during November, and December.
Based upon to the price in Palm Jumeirah (cities), this has gone downing the last 6 months. In our first sample month during July, the average price is AED 6,662,013. In August This price remains at AED 6,375,567. In the following two months the average price has remained the same with regard to the previous two months from AED 6,518,790 to AED 6,299,705.5. During the last two months, the average price has reduced with regard to the previous ones. To be precise it has gone down 91 %, going from AED 6,409,248 to AED 5,818,994.5 in November and December.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 6,579,420 they are 68 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 93 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,268,249.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of AED 1,764 / sq.feet, with an average AED 2,209 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 6 % more expensive than the average followed by properties with 2 bedrooms with a price at AED 1,787 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 6,579,420 it is 63 % cheaper than the average price in Palm Jumeirah. "Apartment" is seen as the second most affordable property type. The dearest property type is "Villa" followed by "Land". At a price of AED 14,933,734 it is 127 % 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 1,037 / sq.feet followed by "Townhouse" priced at AED 1,472 / sq.feet. "Penthouse" is the cheapest type of property with a AED 2,180 / sq.feet value followed by "Villa" with an average price of AED 2,130 / sq.feet.