Dubai is famous for its iconic developments. Different communities or developments developed by renowned real estate companies are the epitome of a luxurious lifestyle, outstanding infrastructure, unique architectural designs, and many more. From towering skyscrapers to lavish waterfront communities are part of this vibrant city.
Palm Jumeirah is one of these developments in Dubai. This waterfront residential community is famous for its unique palm-shaped structure and it grabs the attention of homebuyers, prospective investors, or tourists from all over the world. The demand for luxurious properties in Palm Jumeirah is high and it has a positive impact on the overall Dubai’s real estate market.
Let’s have a look at the Palm Jumeirah property sales trends in 2023.
Community Overview: Palm Jumeirah
Palm Jumeirah is one of the most amazing communities in Dubai. It is a most popular and exceptional community due to its unique palm shape, infrastructure, and many other features like prime location, state-of-the-art facilities, types of properties, lavish lifestyle, and elite living standards.
Location
Palm Jumeirah represents the stunning art of the man and Dubai’s commitment to excellence and innovation. It is a palm-shaped, world’s largest artificial island located on the coast of the Arabian Sea.
From this neighborhood, you have easy access to the rest of the city. For people who love beachfront living with high standards, Palm Jumeirah is the best place to live.
Developer
This world-renowned community was launched in 2001 and developed by the famous developers of the region, Nakheel Properties who have made an impressive contribution in developing different masterpieces in Dubai. The project, Palm Jumeirah shows the commitment of Nakheel Properties to perfection and a unique blend of technology and nature.
Property Types
This mega project is a favorite residential neighborhood among the residents with high net worth. Palm Jumeirah offers various types of properties including studios, apartments, penthouses, townhouses, and villas. Each property in this community is the epitome of luxurious life, unique architectural design, and high-end finishing and is surrounded by the top-notch facilities of life.
Palm Jumeirah is a residential complex and a tourist and leisure destination. Tourists from across the world visit this lavish complex to enjoy the beautiful and amazing view of the sea and to be eyewitnesses of the 8th wonder on the earth.
Famous Projects
Palm Jumeirah spans over 560 hectares and is further divided into sub-communities:
- Shoreline Apartments
- Garden Homes Palm Jumeirah
- Marina Residences
- The Crescent
- Golden Mile
Famous off-plan projects in Palm Jumeirah
- Six Senses Residences
- AVA By Omniyat
- Palm Beach Towers
- Serenia Living
- ORLA By Omniyat
- Como Residences
- Armani Beach Residences
Best Educational Institutes
Here is the list of the best Educational Institutes in Dubai easily accessible from Palm Jumeirah:
- Blossom Nursery
- Redwood Montessori Nursery
- Asya’s Nursery
- GEMS Wellington International School
- American School of Dubai
Best Health Centers
Some famous hospitals or medical clinics in Palm Jumeirah are given below
- Dr. Joy Dental Clinic
- Dubai London Clinic
- Al Das Medical Clinic
- Emirates Hospitals and Clinic Palm Jumeirah
Popular Nearby Areas
The community’s strategic location gives connectivity to the rest of the city.
- Dubai International City
- Dubai Marina
- Jumeirah Lake Tower
- Al Sufouh 1
- The Greens
- The Views Community Dubai
- The Meadows
2023 Palm Jumeirah Market Report: Sales Trend
All the transactions are recorded at the Dubai Land Department, DLD
Sales Trend For Secondary Property In Palm Jumeirah, Q2 2023
- Total volume of sales: 474
- The total amount of sales: AED 3.84 billion
Total Number Of Properties Sold In Palm Jumeirah, Q2 2023
- Apartments: 346
- Villas/Townhouses: 64
- Commercial land/ Plot Sale: 35
- Services Apartments: 29
Total Number Of Transactions In Palm Jumeirah, Q2 2023
- Transactions sold between 0-3 million AED are 192
- Transactions above 5 million AED are 153
- Transactions above 10 million AED are 91
Top 4 Most Expensive Villas Sold In Palm Jumeirah, Q2 2023
| Villa Types | Prices | Total Area |
| Frond A Signature Villa | 75.5 m AED | 15,462 sq ft plot |
| Frond N Signature Villa Custom | 70 m AED | 130,579 sq ft plot |
| Signature Villa | 55 m AED | 13,398 sq ft plot |
| Signature Villa | 55 m AED | 13,398 sq ft |
Top 4 Most Expensive Apartments Sold In Palm Jumeirah, Q2 2023
| Apartment | Bedrooms | Prices | Total Area |
| Atlantis The Royal | 4 bedrooms | 50 m AED | 6,311 sq ft |
| One At Palm | 4 bedrooms | 49.5 m AED | 5,737 sq ft |
| Atlantis The Royal | 3 bedrooms | 43 m AED | 3,739 sq ft |
| Atlantis The Royal | 3 bedrooms | 37 m AED | 3,397 sq ft |
Average Price And Size Of The Property In Palm Jumeirah, Q2 2023
- The average price of property per sq. ft in Palm Jumeirah is 2,172 AED
- The average property size sold in Palm Jumeirah is 1,789 sq ft
Sales Trend For Off-Plan Projects In Palm Jumeirah, Q2 2023
- Total volume of sales: 198
- Total amount of sales AED: 3.02 billion AED
- Apartment sold: 154
- Serviced Apartment sold: 44
- Average price per square feet: 4,175 sq ft
- Average property size sold: 1,907 sq ft
Top 5 Most Expensive Off-Plan Properties In Palm Jumeirah, 2023
| Sr. | Properties | Prices | Total Area |
| 1. | Six Senses Residences | 105 m AED | 26,154 sq ft |
| 2. | Six Senses Residences | 100 m AED | 26,154 sq ft |
| 3. | Six Senses Residences | 85.5 m AED | 26,154 sq ft |
| 4. | Como Residences | 65,732 m AED | 11,436 sq ft |
| 5. | Como Residences | 64,737 m AED | 11,263 sq ft |
Overall, Sales of Off-plan and Ready Properties in Palm Jumeirah, Q2 2023
- Total Volume of sales in Palm Jumeirah: 62
- Total Amount of sales in AED: 6.86 billion
Brief summary
In this brief summary by ere homes Dubai, Palm Jumeirah real estate market trends in 2023 displayed some interesting figures. After having an overview, we get an idea that among all the properties in Palm Jumeirah, the majority of sales are of apartments showing there is a high demand for apartments, most of the people prefer to live in apartments rather than villas or townhouses in Palm Jumeirah.
Sales of both types of properties including ready properties and off-plan properties are trending in Palm Jumeirah. The most expensive villas sold for 75.5 m AED and the price of the most expensive apartment was 50 m AED. In off-plan properties, the expensive property was sold for 105m AED.
Overall, the total volume of off-plan and ready properties in Palm Jumeirah was 62 in Q2 2023, a 13% decrease from Q1 2023, and the total sale amount is 6.86 billion AED, a 51% increase indicating the trend of higher value transactions in Palm Jumeirah.