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Real estate in Dubai is in high demand and selling at a breakneck speed as a result of the inflow of wealthy investors.
Experts in the real estate industry believe that the cost of apartments on the Palm Jumeirah has risen since the Atlantis The Royal Hotel opened its doors.
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Palm Jumeirah's New Project
The cutting-edge Atlantis The Royal Hotel has officially opened in January 2023 with a grand ceremony that drew international attention. The hotel is in the heart of Palm Jumeirah and offers hotel rooms, exclusive apartments, and penthouses. Private gardens and picturesque pools can be found on every floor. Balconies and private terraces in apartments with panoramic windows overlook the Persian Gulf.
Residents of Atlantis The Royal have access to a variety of amenities, including:
- Infinity pool side lounge zone;
- Selection of branded boutiques;
- First-class restaurants;
- SPA center with a sauna and steam bath;
- Gym;
- Library;
- Beach club;
- Reception hall;
- Conference room;
- Parking spaces.
Apartments with two or three bedrooms range in price between AED 25 million and AED 38 million ($7 and $10 million). A four-bedroom luxury apartment has been listed for sale for AED 60 million ($16 million).
Housing Investments in Palm Jumeirah
Investors from all over the world have refreshed their interest in Dubai's Palm Jumeirah. With the real estate market in great condition and a plethora of high-end projects setting new standards, some investors are doubling down on their investments.
Last year, the Palm Jumeirah district was voted the best place in Dubai to invest in real estate, with the value of villas in the community growing by nearly 50%. Increased demand for seafront housing and a lack of new waterfront projects in finished communities are driving this growth.
Further rise in prices for luxury real estate in Dubai
Palm Jumeirah real estate prices have reached an all-time high. For example, a deal to acquire one of the most magnificent residences on the Palm Jumeirah was recently registered for AED 130 million ($35 million).
Experts predict that prices in Dubai will continue to rise throughout the year as more people from all over the world purchase urban real estate. This influx will benefit the emirate's premium real estate market the most.
With 86,849 residential sales in 2022, Dubai recorded a double-digit price hike of 11.05%, breaking the previous record set in 2009. Dubai's real estate sector will be supported by a rise in the number of migrants, primarily because Europeans are flocking to this country in search of permanent residency. With over 70,000 millionaires currently residing in Dubai, the city's wealthy residents are primed for a further price hike.
