Prices of Signature and Garden Home villas on the Palm Jumeirah are on the
rise, registering average increases of 11 to 25 per cent in first half of 2012
compared to same period last year.
Depending on their location and view, a few Signature villas are now listed at prices 50 per cent more than last year.
Although realty agents confirm that the majority of the purchases are in cash, a number of buyers using bank financing have gone up in the past few months suggesting banks have eased lending regulations and lowered their interest rates.
“Prices are driven, we feel, by regional turmoil bringing businesses into the emirate form other Arab countries,” Mark Towers, Managing Director, Edwards and Towers, told Emirates 24|7.
“Likewise, there is a lack of villas available, in general; whether it is beachfront or inland, and demand is outstripping supply.”
Towers revealed they had sold several villas in the last two months (May and June) on Palm Jumeirah with over 80 per cent of the deals done in cash.
“Our buyers are mixed, but recently we are seeing an increase of buyers from GCC and Russia.”
Depending on their location and view, a few Signature villas are now listed at prices 50 per cent more than last year.
Although realty agents confirm that the majority of the purchases are in cash, a number of buyers using bank financing have gone up in the past few months suggesting banks have eased lending regulations and lowered their interest rates.
“Prices are driven, we feel, by regional turmoil bringing businesses into the emirate form other Arab countries,” Mark Towers, Managing Director, Edwards and Towers, told Emirates 24|7.
“Likewise, there is a lack of villas available, in general; whether it is beachfront or inland, and demand is outstripping supply.”
Towers revealed they had sold several villas in the last two months (May and June) on Palm Jumeirah with over 80 per cent of the deals done in cash.
“Our buyers are mixed, but recently we are seeing an increase of buyers from GCC and Russia.”
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