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 December, the average price per sq.feet was AED 1,998. In January this price pretty much remained the same at a value of AED 2,001 per sq.feet. In the following two months the price per sq.feet has barely changed, going from AED 1,999.5 to AED 1,967.5 per sq.feet. The price per sq.feet has increased 107 % 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 1,983.5 to AED 2,123 during April, and May.
Based upon to the price in Palm Jumeirah (cities), this has gone up considerably in the last 6 months. In our first sample month during December, the average price is AED 5,319,795. In January This price remains at AED 5,546,995. During the following two months (February, March) the price has had an average incrementation from AED 5,433,395 to AED 5,838,235.5. Based on an analysis of the first four prices and the last two months the average price has risen strongly 119 % 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 6,652,152 they are 64 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 122 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 6,676,336.
With regard to the average price per sq.feet , those properties with 2 bedrooms are the cheapest ones at a cost of AED 1,809 / sq.feet, with an average AED 2,247 / 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 3 bedrooms with a price at AED 1,946 / sq.feet.
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of AED 6,652,152 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 "Land". At a price of AED 18,547,760 it is 247 % 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 1,211 / sq.feet followed by "Apartment" priced at AED 2,039 / sq.feet. "Penthouse" is the most costly type of property with a AED 20,124 / sq.feet cost followed by "House" with an average price of AED 17,980 / sq.feet.