Thursday 14 August 2014Thursday 14 August 2014
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Villa Sales On Palm Jumeirah Top $59m During Q2
As we close off the first half of 2024, Dubai’s property market has shown impressive growth across all residential sectors with no signs of slowing down.
Latest figures for sales on Palm Jumeirah show that investors spent just over $59m (AED219m) on buying six properties during Q2 2014.
Figures compiled by Reidin.com for Emirates 24/7 show that Palm Jumeirah attracted the biggest villa deals for the second consecutive quarter.
The most expensive deal record in the three-month period was a Palm villa that sold for just over $16m (AED58.8m), or $2,092 (AED7,684) per square feet.
Three villas in Emirates Hills were almost among the most expensive sold in Q2, with two sold for in the region of $9.6m (AED35.5 and AED Dh35.3) and a third selling for $9.3m (AED34.5m).
Another villa on the Palm sold for $9.3m (AED34.5m) during Q2.
The Palm was where nine of the top ten villa deals were completed during the first quarter, with buyers paying between $816 (AED3,000) and $1,334 (AED4,900) per square foot. The biggest deal during Q1 was on the Palm for $12.2m (AED45m).
Market sources told Emirates 24/7 that most of the larger deals are done in cash with buyers from Russia, Iran, and India.