Azure Residences - Sold Prices - Market Trends
Azure average Sold Prices and Market Trends
Author Gareth Davies - Award Winning Broker and Property Consultant
Since the start of the Middle East geo-political conflict on 28th February, the Palm Jumeirah sales market has been affected less significantly than many real estate economists predicted. There has been a decrease in the number of transactions but the reduction in the average sale price (AED/sq.ft) has only been -4.26%. During the summer months in Dubai it is not uncommon to experience slower growth and sometimes a negative movement in prices.
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
SOLD PRICES
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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