price per square foot

[fier14]

Hello everybody.
I have an easy question and hope you will be able to answer. when talking about the price psf what areas are included in the calculation?
For example, I have a price from an agent as follows:

Carpet area 753.30
balcony area 27.23
Total area (net) 780.53
Total area (gross) 960.06
(all in ft)

Unit price AED 1,405,000
Parking bay price AED 50,000
Total price AED 1,455,000

I used total gross area (i.e. 960.06) and the total price 1,455,000 (incl parking price) and arrived at AED 1515 psf (1,455,000/960.06).

Is that the right way to calculate?

Many Thanks

[Inlux]

Does anyone know what the price per sqft is for JBR

[canadianboy]

maybe you can explain that 180 sqft difference between the net and the gross?

[mpat]

Originally Posted by fier14

Hello everybody.
I have an easy question and hope you will be able to answer. when talking about the price psf what areas are included in the calculation?
For example, I have a price from an agent as follows:

Carpet area 753.30
balcony area 27.23
Total area (net) 780.53
Total area (gross) 960.06
(all in ft)

Unit price AED 1,405,000
Parking bay price AED 50,000
Total price AED 1,455,000

I used total gross area (i.e. 960.06) and the total price 1,455,000 (incl parking price) and arrived at AED 1515 psf (1,455,000/960.06).

Is that the right way to calculate?

Many Thanks

Yes , that s the simpler way of calculating, but some developers and agents dont calculate parking price in the total price PSF,which I dont think is correct.

Canadian Boy,
Difference between gross and net areas is basically common areas like walk ways, stairs, lifts, swimming pool, gym, sauna room etc etc etc

[fier14]

cheers, everybody.
from what I know usually the gross area is larger then the net area by 20% (kind of typical). I am not sure if this is a standard, though. however, an agent I was talking to when describing one of the properties just added 20% on top of the net and told me that was the gross.