Dubai's Palm Jumeirah real estate market has demonstrated a vibrant performance in the first half of the year, with a total of 808 transactions reflecting the area's allure to both investors and homeowners. Property Shop Investment (PSI), a premier real estate agency in Dubai, offers a comprehensive analysis of these market trends.

Property Shop Investment Expands its Presence in Palm Jumeirah

Property Shop Investment (PSI) has announced the inauguration of a new branch in the luxurious locale of Palm Jumeirah. This strategic expansion underscores PSI's commitment to the burgeoning real estate market in the area. The new branch, in addition to PSI's existing offices in Business Bay and Dubai Hills, strengthens the company's presence in Dubai's dynamic property market. Each of PSI's branches is equipped with specialized sales experts and dedicated landlord relations teams, all ready to assist with every aspect of the real estate process.

Soliman Hossameldin, Marketing Manager of PSI, shares, "The steady growth pattern and current market dynamics in Palm Jumeirah are fostering a strong sense of confidence among homeowners and investors alike. The impressive performance in the first half of 2023 clearly signifies the resilience and adaptability of Palm Jumeirah's real estate market. This robustness, coupled with the area's unique appeal, renders it a promising landscape for real estate investment and homeownership."

Mid-Year Real Estate Review of Palm Jumeirah

The review encapsulates crucial data points such as monthly transactions, property type popularity, average sales, area breakdown, transaction amount range, and property sizes. The report underscores the robust activity in the market, highlighting Palm Jumeirah's appeal to investors and homeowners.

From the popularity of apartments to the high transaction volume in areas like The Crescent, this report offers valuable insights into the vibrant real estate landscape of Palm Jumeirah.

Monthly Transactions

  • The number of transactions fluctuated from January to June.
  • March witnessed the highest number of transactions at 176.
  • The market remained active throughout the period, with at least 100 transactions every month.

Property Type Popularity

  • Apartments emerged as the most popular choice, accounting for 683 out of the total 808 transactions.
  • Villas and townhouses also found their niche, with 112 and 13 transactions respectively.

Average Sales and Built-up Area

  • The average sales price across all property types was approximately 9.3 million AED.
  • The average built-up area was 2,711 sq ft.
  • This translates to an average price of 2,729 AED per sq ft.

Area Breakdown

  • The Crescent topped the list with 158 transactions, closely followed by Shoreline Apartments with 157.
  • These areas attracted the highest number of transactions due to their strategic location and comprehensive amenities.

Transaction Amount Range

  • The majority of transactions fell within the 2M - 5M AED range.
  • There were 180 high-value transactions above 10M AED.
  • Surprisingly, 1 transaction was between 500-750k.

Number of Bedrooms

  • Two-bedroom properties were the most popular, with 298 transactions.
  • This was followed by one-bedroom and three-bedroom properties.

In conclusion, the Palm Jumeirah real estate market has shown strong performance and diversity in the first half of the year. With its range of property types, areas, and price points, it continues to attract a wide spectrum of buyers. As the year progresses, it will be interesting to observe how these trends evolve in response to market dynamics and buyer preferences.

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About Property Shop Investment (PSI)

Property Shop Investment (PSI), a pioneering force in the UAE's real estate industry, was established in 2007 and has since been on a relentless pursuit of reshaping the industry and delivering unparalleled value to its clients. Our vast range of comprehensive services, commitment to innovation, and exceptional team of over 200 experts uniquely position us as the top real estate broker in Dubai.

Property Shop Investment (PSI)

Dubai Hills Estate، Business Park 3 - 104 - Dubai