Palm Jumeirah Real Estate Market Report Q1 2022
The Palm Jumeirah has consistently proven to be one of the most sought after communities of Dubai. There has been a massive increase in terms of average prices for both Palm Jumeirah apartments and for villas. , Apartments saw average transaction prices increasing by 43% since Q1 of last year, whilst Palm villas saw average transaction prices rising by 26% .
Yet despite the increase in prices, demand is still high. In regards to apartments we are seeing buyers opt for larger properties in Palm Jumeirah, with the number of high value super prime properties increasing. Apartments along the Palm Crescent, which are primarily made up of serviced hotel apartments, saw the most transactions occur, with it being the most popular residential area on the island. High-end finishes, resort-style facilities and uninterrupted sea views have helped these apartments become very in-demand, despite commanding high prices.
Demand for Palm Villas is also on a definite increase, however, there has been a significant drop in the number of transactions, however, this is not due to lack of demand, but rather a lack of available stock.
Overall, it is expected that due to the Palm Jumeirah’s prestigious reputation, as well as limited space and lack of availability, demand for property on the island will remain high, especially with it being one of the few freehold areas that allows residents private beach access. Therefore prices will continue to rise.
If you are interested in buying property on the Palm, be it an apartment or a villa, then take a look at some of our listings below.
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