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 May, the average price per sq.feet was AED 1,877. In the following month the price per sq.feet increased to AED 2,019. In the following two months the price per sq.feet has barely changed, going from AED 1,948 to AED 1,951.5 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 1,949.75 to AED 2,000.5 during September y October
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 May, is AED 4,784,797. During June the price went through a considerable rise reaching AED 5,710,686. During the following two months (July, August) the price has had an average incrementation from AED 5,247,741.5 to AED 5,586,945.5. Based on an analysis of the first four prices and the last two months the average price has gone up 109 % 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 5,379,052 they are 58 % more affordable than the average price for Palm Jumeirah. The properties with the highest average price have 4 bedrooms, Their price is 137 % more costly than the average. After that we have properties with 3 bedrooms priced at AED 4,651,359.
With regard to the average price per sq.feet , those properties with 3 bedrooms are the cheapest ones at a cost of AED 1,681 / sq.feet, with an average AED 1,974 / sq.feet price in Palm Jumeirah. The properties with the highest average prices have 4 bedrooms. They are 21 % more expensive than the average followed by properties with 1 bedroom with a price at AED 1,803 / sq.feet.
The graph displaying the average prices displays the property type "Flat" as the most affordable one. At an cost of AED 5,379,052 it is 51 % 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 15,219,828 it is 197 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Flat" at an average cost of AED 1,587 / sq.feet followed by "Apartment" priced at AED 1,873 / sq.feet. "Villa" is the most costly type of property with a AED 18,222 / sq.feet cost followed by "Penthouse" with an average price of AED 17,432 / sq.feet.