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Dubai’s Palm Jumeirah sales fall a staggering 44%

UAE - June 22, 2016
palm jumeirah

The impressive man-made island of Palm Jumeirah has seen a dramatic decrease in the sales of its most expensive villas during the first half of the year, in comparison to sales just a year earlier.

Property broker “Core” has released a statement reporting that sales of villas worth Dh10 million or more has fallen by 44%, while the entirety of Palm Jumeirah sales has gone down by 25%.

According to Core, the shattering sales numbers have had minimal effect on sale and rent prices, decreasing a mere 4% and 7%, respectively, during the same period.

This dwindling sales effect has trickled through the property market in the city to reach Dubai Marina and Downtown Dubai, both witnessing regressing sales transactions.

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