All Palm properties offer inclusive private beach access and many other facilities. It is within these developments that we exclusively purchase properties as we strongly believe that they offer the best of what Dubai can offer in terms of facilities, location and value for money.
As each new development was launched the apartments were snapped up in a matter of hours. The laws of supply and demand took effect and each new development's apartments were offered to the market at a higher price per square foot.
The earlier developments have had their price per square foot go up on the re-sale market roughly in line with the launch price of each new development. Most apartments have excellent views and facilities making them very good buys at the moment.
How much do they cost? What is the premium?
You will see when you visit real estate companies or their web sites a lot of talk about premiums. Premium only applies to unfinished properties. Once a property is handed over then there is only profit or loss for the owner. Premium in this market place is defined as the percentage increase in the price over what the property was originally sold for and what the individual is re-selling the property for. I urge you to pay little attention to these figures as they are irrelevant and misleading in your quest for a property. The most important things to do are to first look at the quality of the actual property you are buying to make sure of what you want and it suits your needs. Then calculate the cost per square foot of the apartment to see if it represents good value and the potential for capital appreciation.
What is good value?
To give you an example of where the market is right now, when the Marina Apartments were launched in July 2004 they were sold at between 1,600 and 1,900 AED per square foot depending on the height of the floor. Tiara which was launched just afterward cost from between 2,000 and 2,500 AED per square foot. These were the prices for properties at launch which have all been sold. They will of course be put on the re-sale market for more then this. Once the properties are delivered in a finished state the launch price and what those early buyers made on the properties will have no relevance and if you worry about what someone else has made or lost on a property you will simply miss out on an amazing opportunity to purchase a property that will only go up a lot further in value over the next three to five years.
Dont want to Buy then why not Rent?
If you are not ready to buy yet then don't miss out on Palm living. Have a look at our rent section and let us help you settle in.
What do I have to pay and to who?
There is a separate web page for each of the properties that are for sale. Click on the individual property link in the buy or rent section.