One of the signs of the UAE is the Palm Jumeirah. This is a man-made island, which is visible even from space. Real estate agents are positioning real estate in Palm Jumeirah, UAE, as an entire option to enter the world of luxury. But in practice, the houses for investment in Palm Jumeirah are available not only to millionaires. A wide selection of objects lets you to select the most suitable choice for various budget levels and goals, including finding a housing supply for asset.
The archipelago was created based on materials mined from the bottom of the sea. Its main task was to develop the coastline to increase the flow of visitors. The structure began in 2001, and already in 2006, the 1st flats were sold here. At the same time, the offers ended within the first day of the start of sales, which prompted further development. Now on the island, you can find ready-made housing and properties for sale off-plan in Dubai. Foreign investors are attracted not only by the exclusive housing stock but also by a broad spectrum of amenities, including:
- proximity to the central regions of the emirate;
- a large number of attractions;
- amusement services.
One of the greatest resort complexes in the UAE is located on the island. The Atlantis Hotel has a water park, an oceanarium, a large aquarium, and many restaurants and cafes.
Types of real estate
In the archipelago, you can find many closed residential communities, including flats for sale in Dubai of various sizes. Privileged penthouses are discovered on the upper floors of skyscrapers. You can purchase studio flats with 1-4 bedrooms on the remaining floors. Most residential complexes are concentrated in the palm tree’s trunk, and villas are being built for sale in Dubai on its branches. The average cost of apartments in Dubai with two bedrooms is about $1 million. You can buy a studio apartment within $450,000. Off-plan projects in Dubai at the stage of development are sold cheaper.
Four causes to invest in Palm Jumeirah
- High liquidity of housing. As the location for further development decreases, the need will only increase. This will drive up prices due to the lack of supply, so housing can always be resold.
- Annual cost capitalization. The elevation in the cost of real estate in Dubai allows you to get a considerable gain when reselling it.
- High profitability ratio from renting flats in Dubai. It reaches 5.5%. There are no individual revenue taxes in the UAE.
- The possibility of getting a resident visa when purchasing property in Dubai. The duration of its action relies on the price of the purchased housing stock.
What attraction can you find near Palm?
Burj Khalifa laser show. In the first quarter of 2023, Dubai attracted many tourists thanks to the big news – the famous laser show in honor of the New Year will now last until March 31st. For those who don’t know, this is just an incredible performance in which bright lighting and images are broadcast on the Burj Khalifa, making the building the biggest LED screen in the world. Experts believe that now the first three months of the year, investors who own real estate in nearby areas can count on increased tenant demand.
Ain Dubai Ferris Wheel. One of the most exciting record-breaking attractions in the city. Ain Dubai, known as the “Eye of Dubai”, is the world’s greatest observation wheel. It has 48 enclosed, air-conditioned cabins that may lift guests to heights of over 250m. It takes about 40 minutes to make a full turn, so tourists get enough time to soak in stunning views of Blue Waters Island.
Assistance with finding property
Palm Jumeirah is far from the only place of the emirate with premier accommodation stock. On the https://emirates.estate website, you can get familiarized with the deals market of the municipality and select real estate in any of the famous areas in Dubai.