Prices for real estate on Dubai’s Palm Jumeirah Island have fallen significantly over the few quarters, with some dropping by as much as 40 percent. For instance, a four bedroom villa on the Palm is now on the market for AED10 million Dirhams, or approximately $2.6 million USD. This is down from AED15 million Dirhams or approximately $4 million USD in September.

The Palm Jumeirah is the largest man-made island in the world and is the first of three such projects being undertaken in the waters off Dubai.  The developer of these islands has noted a general slowdown in the rate of property sales on all three islands proving that all that glitters isn’t necessarily gold!

Simon Turner

FYI:  Read related articles on Dubai; or Islands; or Luxury Homes

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