Selling Palm Jumeirah Property
If you are looking at selling Palm Jumeirah property then this post will certainly be of assistance. Palm Jumeirah in the Emirate of Dubai, United Arab Emirates, is considered one of the most upmarket developments in the whole Emirate.
Prime areas such as Palm Jumeirah, Downtown Dubai and Dubai Marina have seen more pronounced rental deflation than many of the more affordable locations, many of which are suburban locations such as Jumeirah Village Circle, International Media Production Zone and Dubailand. The market seems to currently be seeing a flight to affordability.
The actual delivery of property units in 2015 and into 2016 has been falling short of anticipated supply levels, which has meant that the occupier market has held up fairly well, particularly in more affordable and mid-market locations which have been achieving rental growth.
In 2014 the average price for villas sold in Palm Jumeirah was AED 2,992 per sq. ft. In 2015 this price was at AED 2,499, which is still above the 2013 figure of AED 2,317 per sq. ft.
The villas are popular with wealthy Indians and Europeans, who use them as second or third homes. Rental on the Palm Jumeirah is still quite strong. It is estimated that upgraded villas on Palm Jumeirah can make up to AED 1m per annum.
While prices have not been performing spectacularly in Palm Jumeirah, it is still possible to sell your property there if you wish. The downturn in the market does not mean that there are no buyers available, it just means that they are more difficult to find a bit more reticent to part with their money. It also means that you’ll have to be a bit flexible in what you are prepared to achieve in terms of price. If you are looking for a premium price and you are in a position to hold on to the property then that is most definitely the advice to heed.
If, however, you are in a position that you would rather sell your Dubai villa right now perhaps we can help. Here at SellDubai.co.uk we have a large database of end users, landlords, investors and institutional property buyers looking to make an offer on your Dubai villa right now.
You can list your property with a local Dubai Estate Agent but it could be on the market for many months, if not years. If you wish to sell your property quickly then SellDubai.co.uk may be able to offer you alternative options. Drop us a line now on info@SellDubai.co.uk.