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Palm Jumeirah 2023 Market Report Sales Transactions

2023 Palm Jumeirah Full Market Report For SecondaryMarket Properties


Total Volume Of Sales (Ready Built): 1,657 (12% Decrease From 2022)

Total Amount Of Sales (AED): 16.14 Billion AED (1.6% Increase From 2022)

Apartments: 1,206 (8% Decrease From 2022)

Villas: 170 (5% Decrease Than 2022)

Land: 146 (22% Increase From 2022)

Most Expensive Villa Sold 183m AED in 22 Carat (2022 Most Expensive Villa Was 600m Aed)

Most Expensive Plot Sold: 1 Billion AED (584,000 Sqft)

Most Expensive Apartment Sold 55m AED  Atlantis the Royal | 4 Beds | 6,239 Sqft (In 2022 was 85m)


Top 10 Residential Sales Deals 2023 (AED)

1.   22 Carat Villa – 180m

2.   Palm Frond Villa – Frond K – 150m 

3.   Palm Frond Villa – Frond G – 150m

4.   Palm Frond Villa – Frond F – 125m

5.   Palm Frond Villa – Frond M – 102m

6.   Palm Frond Villa – Frond – 86.4m

7.   Palm Frond Villa – Frond E – 78m

8.   Palm Frond Villa – Frond A – 75.5m

9.   Palm Frond Villa – Frond J – 74m

10. Palm Frond Villa – Frond N – 70m


Average Price Per Sqft For A Palm Property – 1,988 AED Per Sqft (2,041 In 2022)

Maximum Price Per Sqft Paid: 21.000 AED A Sqft (21,000 In 2022)

Average Property Size Sold – 1,766 AED A Sqft (1,727 In 2022)


2023 Palm Jumeirah Full Market Report For Off Plan – Oqood Registered

Total Volume Of Sales : 787 (1,338 In 2022)

Total Amount Of Sales (AED): 12.46 Billion (11.96 Billion In 2202

Apartments / Villas : 634 (1,275 In 2022)

Serviced Apartments: 153 (171 In 2022)

Most Expensive Apartment Sold 500m AED – Como Residences


Top 10 Residential Off Plan Sales in 2023 (AED)

1.   Como Residences Apartment – 500m 

2.   Ava Palm Apartment– 220m

3.   Eome villa - 202m

4.   Eome Villa - 200m

5.   Eome Villa – 120m

6.   Six Senses Apartment – 116m

7.   Como Residences Apartment – 113m

8.   Ava Palm Apartment– 112.5m

9.   Como Residences Apartment– 111m

10.                 Six Senses Apartment – 105m


Overall Sales of Off Plan & Ready Properties 2023 

Total Volume of Sales: 2,444 (3,239 in 2022)

Total amount of Sales (AED): 28.35 Billion (27.85 Billion AED in 2022)

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


2023 Palm Jumeirah Review

The 2023 Palm Jumeirah Real Estate Market Report presents a detailed comparison to 2022, revealing nuanced shifts in the market dynamics and offering insights into the potential outlook for 2024.

Key Highlights for Secondary Market Properties in 2023:

Sales Volume: There was a 12% decrease in the total volume of sales of ready-built properties, totaling 1,657 transactions.

Total Sales Amount: Despite the decrease in volume, there was a 1.6% increase in total sales amount, reaching 16.14 billion AED.

Property Type Trends: Sales of apartments and villas saw a decrease (8% and 5%, respectively), whereas land sales experienced a significant 22% increase.

Price Fluctuations: The most expensive villa sold at 183 million AED, a notable decrease from 2022's 600 million AED. The most expensive plot sold reached 1 billion AED. There was a decrease in the price of the most expensive apartment sold, dropping from 85 million AED in 2022 to 55 million AED.

Off-Plan Market in 2023:

Sales Volume and Amount: The total volume of sales for off-plan properties was 787, a decrease from 1,338 in 2022, with a total sales amount of 12.46 billion AED

Property Types: There was a significant decrease in the sale of apartments/villas and serviced apartments.

Highest Sales: The most expensive off-plan apartment sold for 500 million AED at Como Residences.

Overall Market Analysis:

Total Sales: The overall sales volume of off-plan and ready properties combined decreased compared to 2022, but the total sales amount saw a slight increase.

Average Price Per Sqft: There was a slight decrease in the average price per sqft for Palm properties.

2024 Outlook:

The data from 2023 suggests a market that is adjusting to various economic factors. The increased interest in land purchases and the decrease in high-value villa and apartment sales reflect a more cautious investment approach. The decrease in off-plan sales volume could indicate market stabilization.  

Moving into 2024, these trends might suggest a more balanced market, with potential growth in specific sectors such as land and mid-value properties. Investors and stakeholders should watch for shifts in consumer behavior and global economic influences for informed decision-making in the coming year.

Please note the outlook and analysis is based on my own professional opinions with the help of analysing reports of other real estate consultancies. and should not be taken as facts.


Yasin Valimulla

CEO & Founder

The Luxury Address

M: +971 (050) 505 4135

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