Knight Frank tracks recovery in Palm Jumeirah property market
The Dubai real estate market has continued to slowly recover in early 2021, according to the Prime Residential Palm Jumeirah Update from Knight Frank.
The research finds total transaction volumes in Dubai, in the year to date to quarter one of 2021, increased by 12.1 per cent over the same period from last year.
“The Palm Jumeirah market is continuing to show a much faster recovery compared to many other key residential communities in Dubai, with average apartment and villa prices increasing by 8.5 per cent and 6.6 per cent respectively, in the year to March 2021,” the report added.
Agents at Knight Frank added the Royal Atlantis Residences are set to become one of the most coveted global addresses and a true icon on the Dubai skyline when completed in quarter four of this year.
Properties are likely to start around the US$2 million mark.