Palm Jumeirah 2019 - Q4 Market Report

Palm Jumeirah 2019 – Q4 Market Report

Sales Transactions Recorded at Dubai Land Department (DLD)

Ready Properties

Total Volume of Sales: 165 (7% Increase than Q3 2019)

Total amount of Sales (AED): 589,230,000m AED (15% Decrease than Q3 2019)

Apartments Sold: 115 (13 % Increase than Q3 2019) – (70% of all sales in this period)

Villas Sold: 14 (58% Decrease than Q3 2019) - (8.5% of all sales in this period)

Land / Plots Sold: 23 (155% Increase Q3 2019) - (14% of all sales in this period)

Serviced Apartments Sold: 8 (20% Decrease than Q2 2019) - (5% of all sales in this period)

% Breakdown of overall volume of transactions for the development in Q4 – 2019

• Anantara: 32 transactions (19%)
• Azure: 24 Transactions (8%)
• Dukes: 6 Transactions (4%)
• Five Residences: 4 Transactions (2%)
• Golden Mile: 4 Transactions (2%)
• Grandeur Residences: 5 Transactions (3%)
• Kempinski (Emerald Palace): 0 Transactions
• Marina Residences: 10 Transactions (6%)
• Muraba Residences: 0 Transactions 
• Oceana Residences: 6 Transactions (4%)
• Palme Couture: 0 Transactions 
• Palm Views: 0 Transaction
• Royal Bay: 0 Transactions 
• Serenia Residences: 5 Transactions (3%)
• Shoreline Residences: 32 Transactions (19%)
• Fairmont Residences: 3 Transactions (2%)
• Tiara Residences: 3 Transactions (2%)
• Villas (All developments including Canal coves and Palma Residences): 18 Transactions (11%)
• Land / Plots: 23 Transactions (14%) 

Transactions between 0 - 2m AED = 106 (64% of all transactions)

Transactions that sold between 0 - 3m AED = 129 (78% of all transactions)

Transactions above 5m AED = 27 (16% of all transactions)

Most Expensive Villas Sold (Top 4):

54,790m AED –

40m AED -

35m AED –  

25.5m AED -

Most expensive Apartments Sold (Top 4):

11.668m AED – Oceana Residences – 4 Bedrooms

7,685,850m AED - Serenia Residences – 3 Bedrooms

7,344,500m AED– Serenia Residences – 4 Beds

5.6mAED– Oceana Residences – 3 Beds

Average Price per SqFt for a Palm Property - 1,121 AED Per Sqft

Maximum Price Per SqFt Paid: 7,827 AED Per Sqft

Average Property Size Sold - 1,551 SqFt

Villa Transaction Prices

Villa Transaction Prices in AED (Villas on the fronds include both the Nakheel standard villas as well as custom built villas which have larger plots and built up sizes)

Signature Villa Sizes (Nakheel & Custom built): 54,790m, 40m, 35m, 25.5m, 22.9m, 19.1m

Garden Home Villa Sizes (Nakheel & Custom built): 13.750m, 13.2m, 9.5m, 9m, 8.170m, 7.55m, 7.050m, 6.755m

Grandeur Residences Villa: 7m AED

Townhouses (Can include Palma Residences and Canal coves): 4.2m, 9.38m, 6m, 5.6m

Off Plan Sales - Oqood Issued

Total Volume of Sales: 53

Total amount of Sales (AED): 115,720,000m AED

Apartments Sold: 39
 

Serviced Apartments Sold: 14

Average Price per SqFt : 1,301 AED Sqft

Maximum Price for Sqft Sold: 3,618 AED Sqft

Minimum Price Per Sqft Sold: 757 AED Sqft

Most Expensive Off Plan Properties Sold in AED (Top 4)

12,162,937m – Royal Atlantis Residences– 3 Bedrooms

5.34m – The 8 – 2 Bedrooms

4.4m – The 8 – 2 Bedrooms

4,010,000m – The 8 – 2 Bedrooms

Overall Sales Of Off Plan & Ready Properties Q4 2019

Total Volume of Sales: 218

Total amount of Sales (AED): 704,950,000 AED

Apartments Sold: 154

Villas Sold: 14

Land Sold: 23
Serviced Apartments Sold: 22

Quarterly stats taken from Reidin 

The above statistics show healthy number of transactions for Q4 2019 although transaction volume and overall sales volume is down from Q3.

Apartment sales still make up the bulk of transactions (over 70%) The high value transactions for apartments were all dominated by Oceana Residences and Serenia Residences.

Buyers with budgets of 0m to 3m AED are dominating the market with 78% of transactions. 16% of transactions were for 5m + AED which shows a healthy demand for the luxury sector.

Villa sales saw a sharp drop with 14 transactions in the quarter, that being said with the current prices clients with a long term vision for living in Dubai are appreciating the competitive prices.

The top 4 sales transactions alone equated for over 155m AED worth of transactions which makes up over 26% of the overall transaction volume.

Feel free to contact me if you are looking at buying, selling or renting. With over 10 years experience on the Palm Jumeirah I can give you upfront honest advise.

If you require a more in depth breakdown of transactions for your chosen development please do message me.