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Palm Jumeirah 2020 – Q4 Market Report

Palm Jumeirah 2020 – Q4 Market Report

2020 Palm Jumeirah Q4 Market Report - Sales Transactions

Transactions Recorded at Dubai Land Department (DLD)

Total Volume of Sales: 209 (31% Increase than Q3 2020)

Total amount of Sales (AED): 994,07m AED (33% Increase than Q3 2020)

Apartments Sold: 134(96 in Q3 2020)(40% Increase than Q3 2020)

Villas / Townhouses Sold: 35 (38 in Q3 2020) - (4% Decrease than Q3 2020 )

Land / Plots Sold: 12 (11 in Q3 2020) 

Serviced Apartments Sold: 11(14 in Q3 2020) - (21% Decrease than Q3 2020)

Transactions between 0 - 2m AED = 105 (50% of all transactions)


Transactions that sold between 0 - 3m AED = 139 (66% of all transactions)


Transactions above 5m AED = 53 (25% of all transactions)

Most Expensive Plots Sold (Top 2):

60m AED – 31,500 Sqft

46.5m AED – 27,819 Sqft

Most Expensive Villas Sold (Top 4):

28m AED – Signature Villa

25.5m AED – Signature Villa

24.5m AED –Signature Villa

24.5m AED -Signature Villa

Most expensive Apartments Sold (Top 4):


14.5m AED – 5 Palm Jumeirah

14m AED – Serenia Residences

6.6m AED– Serenia Residences

5.8m AED– Serenia Residences

Average Price per SqFt for a Palm Property – 1,166 AED Per Sqft

Maximum Price Per SqFt Paid: 4,288 AED Per Sqft

Average Property Size Sold – 1,944 SqFt

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)

9 Transactions:

28m, 25.5m, 24.5, 24.5, 22.5, 16.8m 16.5, 16m, 13m

· Garden Home Villa Sizes (Nakheel & Custom built):

22 Transactions

15.25m, 15m, 13.65m, 13m, 11.8m, 11.5m, 10.8m, 10.6m, 10.5m, 10.1m, 10m, 10m, 10m, 10m, 9.65m, 9.5m, 9.4m, 9,4m, 8.45m, 8.1m, 7.2m, 6.5m

1 Villa sale in Kempinski Residences – 15.5m AED

Townhouse Sales :

8.5m (Palma Residences)

4.7m (Canal Cove – 4 Bed)

4.55m (Canal Cove – 4 Bed)

Off Plan Sales - Oqood Issued

Total Volume of Sales: 144

Total amount of Sales (AED):343,910,000 AED

Apartments Sold: 12

Serviced Apartments Sold:132

Average Price per Sqft: 2,038 AED Sqft

Maximum Price for Sqft Sold: 3,485 AED Sqft

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

30m – One By Omniyat

22.725m – W Palm

21.105m – W Palm

20.303m - One by Omniyat

Overall Sales of Off Plan & Ready Properties Q4 2020

Total Volume of Sales: 353


Total amount of Sales (AED): 1,337,980 AED


Apartments Sold: 146


Villas Sold: 35


Land Sold: 12

Serviced Apartments Sold: 143

Quarterly stats taken from Reidin– Please note we do not take any responsibility for the authenticity of the figures.


The above statistics show a very healthy number of transactions for Q4 2020 despite the current challenges faced with the Covid-19 pandemic. From analysing a number of different consultancies reports the majority are calling the bottom of the market and its certainly true for the Palm.

Apartment sales make up the bulk of transactions with a number of high value transactions for the boutique development of One Palm and W Residences.

Buyers with budgets of 0m to 3m AED are dominating the secondary market with 66% of transactions. 25% of transactions were for 5m + AED which shows a very healthy demand for the luxury sector and a big increase from the previous quarters.

Interestingly the top 2 sales for the quarter were Residential plot sales (60m AED | 46.5m AED) both of which sold close to 2,000 AED a Sqft which is at record levels.

Villa and townhouse sales remained strong continuing from the Q3 momentum, and prices saw a sharp increase compared to the previous quarters, villa prices in general saw a rise of 25 – 30%

The villa market has always proven to have its own micro market and with so many transactions happening we are seeing price expectation increasing with the demand being higher than the current villa supply. This has been evident with both sales and rentals transactions.

The top 5 resales transactions alone equated for over 209m AED worth of transactions which was an 80% increase than the previous quarter.

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 advice.

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

Yasin Valimulla

Associate Partner Knight Frank Middle East

M: +971 (050) 505-4135

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