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 November, the average price per sq.feet was . In the following month the price per sq.feet increased considerably to . The price for the following two months in (January, February) had a considerable increment of 2147483647 %. The price per sq.feet has had a considerable increase of 387 % 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 486.5 to AED 1,882.5 during March, and April.
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 November, is . During December the price went through a considerable rise reaching . During the following two months (January, February) the average price had a considerable increase of 2147483647 % 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 353 % 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 5,318,504 they are 63 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 94 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,049,967.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 1,688 / sq.feet, with an average AED 1,858 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 7 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,746 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 5,318,504 it is 49 % 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 15,703,321 it is 228 % 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 1,108 / sq.feet followed by "Townhouse" priced at AED 1,294 / sq.feet. "Villa" is the most costly type of property with a AED 2,509 / sq.feet cost followed by "Penthouse" with an average price of AED 2,343 / sq.feet.