Townhouses for Sale in Palm Jumeirah

Dubai is a lucrative jurisdiction for investing because it is a metropolis with a dynamic infrastructure and a clear position in the real estate market. For example, a premium townhouse in the Golden Mile neighbourhood can be bought for as low as AED 2,375,000 (USD 646,610). During the last year alone the total volume of real estate sales in the emirate has grown by 8%.

Real estate in the UAE has been described as a good asset type for passive income from renting. UAE annually attracts not only tourists but also expats who intend to live and work in this country. It should be noted that more than half of the population of Dubai do not own real estate here, so the local rental market is quite large.

Another advantage of the emirate is the state tax policy. The country officially has no tax on gifts, inheritance, capital gains and repatriation. But there is a tax on the re-registration of ownership, which is equal to 4% of the total amount of property fees. It is paid on purchase, but is still much lower than in other states.

Palm Jumeirah is the area where the elite residential emirate and tourist infrastructure is concentrated. It is an artificial island, which belongs to the archipelago “Palm Islands”. The developer of Palm Jumeirah is Nekheel Properties. The total construction budget for Palm Jumeirah amounted to USD 12,000,000. At the moment on the territory of Palm Jumeirah there are about 1,400 villas and 2,500 apartments. The island itself remains the property of the state.

To get to Palm Jumeirah you can take a monorail train, which is located at the foot of the palm trees and runs every 20 minutes. Palm Islands, Drar Diving Center, The View at The Palm, Nakheel Mall, Bricobilandia are nearby must-see attractions.

Palm Jumeirah ranks third among the most popular areas of Dubai. It is suitable for both your residence and for renting properties. nfrastructure for residents includes convenient transportation, a lot of shopping centers, gyms, clubs, beauty salons, cafes, restaurants, and cinemas.

Townhouses, although inferior in popularity to apartments, are still a popular type of housing. The average yield on real estate in the area of Palm Jumeirah is 6%. The yield of townhouses, depending on the area and class varies from 4.1 to 5.2% per annum.

As for the price, for example, a 2-bedroom townhouse in Marina Residences of 376 sq.m. costs AED 3,950,000 (USD 1,075,415), and a 3-bedroom version of 481 sq.m. in Fairmont Palm Residence South is priced around AED 5,500,000 (USD 1,361,285). The average annual rental price of a townhouse ranges from AED 152,000 – 650,000 (USD 41,383 – 176,967).

Palm Jumeirah is one of the key coastal areas of Dubai. It has both high economic and high tourist potential. Local real estate can be used as a place for permanent residence, a country residence or a promising investment asset.