A five-bedroom condominium situated in One Palm has taken the highest spot for 2019 within the Dubai property market.
The off-plan property on the enduring Palm Jumeirah bought for US$20 million earlier, turning into the most costly deal of the 12 months to this point.
Lynnette Abad, director of analysis and information, Property Finder, which revealed the deal, mentioned super-luxury properties in Dubai are bucking the downward development 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 several types 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,” mentioned Abad.
Property Finder revealed that the condominium spans 24,000 sq. ft.
Located on a first-rate plot of the Palm Jumeirah entrance, One Palm affords gorgeous views of Dubai Marina’s skyline and the Arabian Gulf.
Palm Jumeirah proved to be the most well-liked 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, tasks 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.