A five-bedroom residence situated in One Palm has taken the highest spot for 2019 within the Dubai property market.
The off-plan property on the long-lasting Palm Jumeirah offered for US$20 million earlier, turning into the most costly deal of the 12 months thus far.
Lynnette Abad, director of analysis and knowledge, Property Finder, which revealed the deal, stated super-luxury properties in Dubai are bucking the downward pattern skilled elsewhere within the emirate’s property market.
“As property costs decline, each within the secondary and off-plan markets, coupled with motivated builders providing many various kinds of incentives, we’re seeing extra curiosity in luxurious properties, particularly from non-residents.
“As well as, we’re additionally seeing a rise in enquiries for mortgages from non-residents,” stated Abad.
Property Finder revealed that the residence spans 24,000 sq. toes.
Located on a primary plot of the Palm Jumeirah entrance, One Palm affords beautiful views of Dubai Marina’s skyline and the Arabian Gulf.
Palm Jumeirah proved to be the preferred space in Dubai for transactions within the super-luxury property market, with a number of transactions reported within the $5.5 million vary.
Within the off-plan house, initiatives just like the Alef Residences, XX11 Carat, Jumeirah Zabeel Saray and Bulgari Resort & Residences are fetching over $5.5 million for a person unit sale.
Particulars of the client haven’t been disclosed.