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Luxhabitat reveals booming Palm Jumeirah property market

Figures from the latest Luxhabitat Property Monitor Report have revealed a buoyant property market on the Palm Jumeriah.

The Dubai-based real estate consultant found over 1,737 villas and 6,194 apartments saw ownership transferred within the first quarter of 2019 in the overall residential market.

The volume of transactions in the secondary market was AED20.4 billion, compared to AED 18.5 billion in quarter four of 2018.

The figures represented a ten per cent increase for the early month of 2019.

The average price per square foot for property in the Palm Jumeirah also went up, although by only 2.5 per cent.

Off-plan registration volumes also increased by 28 per cent from the previous quarter, to AED 7.4 billion.

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