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Thu 14 Aug 2014 02:02 PM

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Villa sales on Palm Jumeirah top $59m during Q2

Latest figures released by Reidin.com reveal that three villas in Emirates Hills sold for over $9m each

Villa sales on Palm Jumeirah top $59m during Q2

Latest figures for sales on Palm Jumeirah show that investors spent just over $59m (AED219m) on buying six properties during Q2 2014.

Figures compiled by Reidin.com for Emirates 24/7 show that Palm Jumeirah attracted the biggest villa deals for the second consecutive quarter.

The most expensive deal record in the three-month period was a Palm villa that sold for just over $16m (AED58.8m), or $2,092 (AED7,684) per square feet.

Three villas in Emirates Hills were almost among the most expensive sold in Q2, with two sold for in the region of $9.6m (AED35.5 and AED Dh35.3) and a third selling for $9.3m (AED34.5m).

Another villa on the Palm sold for $9.3m (AED34.5m) during Q2.

The Palm was where nine of the top ten villa deals were completed during the first quarter, with buyers paying between $816 (AED3,000) and $1,334 (AED4,900) per square foot. The biggest deal during Q1 was on the Palm for $12.2m (AED45m).

Market sources told Emirates 24/7 that most of the larger deals are done in cash with buyers from Russia, Iran and India.

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Simon 5 years ago

So...according to the figures...circa 8-10 Villa's out of circa 500+ Signature Villas...equating to a 2% sale of stock...sold on the Palm Jumeirah in 3mths...WOW! (sarcasm)...Buy now while stocks last!!!