Azure Residences - Sold Prices - Market Trends
Azure average Sold Prices and Market Trends
Author Gareth Davies - Award Winning Broker and Property Consultant
The Azure Residences average Sold Prices have experienced 15.8% growth during the past twelve months with almost all of that growth during the past six months.
Sale Price Movements (AED/sq.ft).
Past 12 months:
Azure Residences: 15.8% growth.
Palm Jumeirah: 13.8% growth.
Past 6 months:
Azure Residences: 15.0% growth.
Palm Jumeirah: 7.4% growth.
Buyer Demand is mainly from buyers who want to purchase apartments and occupy them. Vacant on transfer apartments can achieve from 5% to 15% more than identical leased apartments with tenants occupying.
Graph: Palm Jumeirah : Sold Price Growth (AED/sq.ft)
Source: Property Monitor
Graph: Azure Residences : Sold Price Growth (AED/sq.ft)
Source: Property Monitor
Demand from buyers still exists but they are mainly potential owner-occupiers (end-users) requiring Vacant on Transfer properties.
The Volume of Sales each quarter year has decreased because there are not enough realistically priced Vacant on Transfer apartments to satisfy demand.
SOLD PRICES
Data Source: Property Monitor
The main attractions of Azure Residences are the views of the sea, Burj Al Arab and Palm Crescent in the distance. Azure has one of the longest swimming pools in Dubai and the views from the well-equipped gymnasium are spectacular.
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