Golden Mile - Sold Prices - Market Trends
Market Trends and Sold Prices in Golden Mile, Palm Jumeirah.
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.
Vacant on Transfer apartments are still achieving the top prices and are often 5% to 15% higher than identical leased apartments. The majority of enquiries are from buyers searching for a property to purchase and occupy themselves - the problem is the lack of apartments available Vacant on Transfer.
Graph: Palm Jumeirah : Sold Price Growth (AED/sq.ft)
Source: Property Monitor
Sold Prices at Golden Mile
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
The sold prices of apartments have a wide-range. This is mainly due to the difference between community-road facing and park-facing apartments. Also, there is a significant difference between the offers being made for Vacant on Transfer apartments where potential owner-occupier buyers often offer from 5% to 15% more than investors because they want to purchase and occupy themselves (end-user buyers).
To know more about the current market, the selling & renting figure of your properties, please contact us via the form below or click the WhatsApp logo.
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