Property in Palm Jumeirah
Real estate in Palm Jumeirah for investment and permanent residence is a highly liquid and lucrative asset on an island that has already been called the new wonder of the world by some people. The Palm Jumeirah archipelago is considered one of the UAE's major attractions and the scale of its development is remarkable. The area, following the contours of a date palm, was originally planned as an extension of Dubai's coastline. However, the stunning pace of sales of the first series of properties revealed that investors see the island as more than just a luxury resort.
At present, there’s both residential and commercial stock in the area. While real estate prices in Palm Jumeirah are often higher than on the mainland, luxury apartments are in high demand. Any type of property can be found in the community: residences with different numbers of bedrooms, penthouses and duplexes. You can also buy premium villas in Dubai on the island.
The high quality remains a distinctive feature of the properties. Developers pay attention both to the layouts and to the design of the complexes and strive to make the interiors exclusive. As a result, residents get the opportunity to lead a resort lifestyle within walking distance of the seacoast and, at the same time, have everything necessary for life within their place of residence. Well-maintained complexes have many additional amenities, including the following:
- swimming pools and landscape recreation areas;
- gyms and outdoor sports grounds;
- children's entertainment facilities;
- cafés and restaurants.
Several apartment complexes offer hotel-type accommodation that completely relieves residents of dealing with minor domestic issues.
The area is listed as a freehold zone, allowing foreigners to purchase affordable homes. Real estate in Palm Jumeirah can be a convenient place for a seasonal holiday or relocation. Businessmen look at buying a local asset as an investment to combat inflation.
The price of the property in Palm Jumeirah, Dubai, UAE, depends on the prestige of the complex, the availability of additional amenities and the type of specific object.
- Studio flats cost AED 850,000 (USD 231,500)
- 1-bedroom apartments can be bought for AED 2.66 million (USD 725,500)
- 2-bedroom residences are priced at AED 3.45 million (USD 941,000)
- 3-bedroom residences are available at AED 5.4 million (USD 1.47 million)
The more spacious and premium apartments in Dubai. The more spacious and premium with 4-5 bedrooms cost AED 26.9 million (USD 7.3 million).
The average price of a 2-bedroom villa is AED 8.1 million (USD 2.2 million). The price of a 7-bedroom house can go up to AED 80 million (USD 21.8 million) or higher.
Property investment in Palm Jumeirah
For investors, buying a home is worthwhile from the standpoint of both high demand and stable price growth. The limited nature of the island will eventually result in only secondary properties remaining on the market, with offers from developers simply running out. This will push the prices for premium property in Dubai to further rise, which can then be resold at a far higher price. It would be wise to buy your property while it’s still possible to find residences and houses from developers. With that said, the cost of properties in Palm Jumeirah under construction is the most profitable.
The residences can generate an income through both resale and rental. Expats see the housing stock on the island as an opportunity to live in an upscale resort. Annual rents for a studio flat can be as high as AED 100,000 (USD 27,000). Premium properties can annually bring the owner an income of up to AED 760,000 (USD 207,000) for a 5-bedroom apartment and AED 3.5 million (USD 953,000) for a 7-bedroom house.
Buy property in Palm Jumeirah on Dubai-Property.Investments
The catalogue includes listings of homes for sale in completed and under-construction complexes. The convenient search engine allows you to pick up the type of property, choose the number of bedrooms and calculate the prices in rubles, euros, and dollars. Our agents are well-versed in the real estate market, knowledgeable about all the details of the UAE legislation and ready to help foreigners to buy a home in Palm Jumeirah. Specialists can advise you on your choice in any foreign language, arrange a viewing tour, help to fill in all the necessary documents and register the deal at the Dubai Land Department. Explore the current sales offers right now!
