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 March, the average price per sq.feet was AED 1,934. In April this price pretty much remained the same at a value of AED 1,999 per sq.feet. In the following two months the price per sq.feet has increased 113 %, going from AED 1,966.5 to AED 2,221.5 per sq.feet. The price per sq.feet has barely changed in the last two months compared to the average price of the previous four months going from an average price of AED 2,094 to AED 2,172.5 during July y August
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 March, is AED 5,180,874. During April the price went through a considerable rise reaching AED 6,714,767. During the following two months (May, June) the price has had an average incrementation from AED 5,947,820.5 to AED 6,580,231. During the last two months, the average price has pretty much remained the same with regard to the previous average values going from an average value of AED 6,264,026 and AED 6,412,704.5 between July and August.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of AED 5,452,114 they are 54 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 154 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 5,881,120.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,800 / sq.feet, with an average AED 2,150 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 22 % more expensive than the average followed by properties with 1 bedroom with a price at AED 2,026 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 5,452,114 it is 43 % 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 "Land". At a price of AED 18,488,152 it is 259 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Apartment" at an average cost of AED 1,959 / sq.feet followed by "Flat" priced at AED 1,991 / sq.feet. "Penthouse" is the most costly type of property with a AED 20,043 / sq.feet cost followed by "Villa" with an average price of AED 19,393 / sq.feet.