The prices in real estate in Palm Jumeirah, in the Dubai region have remained the same in the last couple of months. The real estate prices for second hand homes have remained in this city.
The price per sq.feet in Palm Jumeirah has remained the same in the last 6 months. In April, the average price per sq.feet was AED 1,858. In the following month the price per sq.feet decreased to AED 1,728. In the following two months the price per sq.feet has barely changed, going from AED 1,793 to AED 1,751.5 per sq.feet. The price per sq.feet has increased 106 % 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 1,772.25 to AED 1,883.5 during August, and September.
Based upon to the price in Palm Jumeirah (cities), this has gone up in the last 6 months. In our first sample month during April, the average price is AED 5,318,504. In May This price remains at AED 5,368,473. In the following two months the average price has remained the same with regard to the previous two months from AED 5,343,488.5 to AED 5,458,648. 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 6,843,075 they are 70 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 65 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,220,032.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,624 / sq.feet, with an average AED 1,941 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 8 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,761 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 6,843,075 it is 61 % 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 13,695,489 it is 142 % 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 945 / sq.feet followed by "Townhouse" priced at AED 1,401 / sq.feet. "Penthouse" is the most costly type of property with a AED 2,261 / sq.feet cost followed by "Villa" with an average price of AED 2,222 / sq.feet.