Palm villa sold for over $16mn during Q2 2014

Figures show sales of six properties on Palm Jumeirah totalled $59mn

Dubai's Palm Jumeirah.
Dubai's Palm Jumeirah.

Latest figures for sales on Palm Jumeirah show that investors spent just over $59mn (AED219mn) on buying six properties during Q2 2014.

Figures compiled by Reidin.com for Emirates 24/7 show that Palm Jumeirah attracted the biggest villa deals for the second consecutive quarter.

The most expensive deal record in the three-month period was a Palm villa that sold for just over $16mn (AED58.8mn), or $2,092 (AED7,684) per square foot.

Three villas in Emirates Hills were almost among the most expensive sold in Q2, with two sold for in the region of $9.6mn (AED35.5mn and AED Dh35.3mn) and a third selling for $9.3mn (AED34.5mn).

Another villa on the Palm sold for $9.3mn (AED34.5mn) during Q2.

The Palm was where nine of the top ten villa deals were completed during the first quarter, with buyers paying between $816 (AED3,000) and $1,334 (AED4,900) per square foot. The biggest deal during Q1 was on the Palm for $12.2mn (AED45mn).

Market sources told Emirates 24/7 that most of the larger deals are done in cash with buyers from Russia, Iran and India. 

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