Penthouse in Palm Jumeirah
Palm Jumeirah is the legendary man-made island where you can find the most exclusive penthouses in Dubai. The gated community by the sea is aimed at wealthy people who value comfort and the possibility of secluded living in an area with developed infrastructure. Penthouses are the most luxurious type of housing stock, as their number is limited. If the number of apartments in a skyscraper can be in the hundreds, then there will be several penthouses, and most often 1 or 2.
This type of property is located on the top floor, it can occupy it completely or be adjacent to a similar property. Some projects include 2-level residences. Such apartments with 5 or more bedrooms are not inferior in size and convenience to detached standalone villas. Layouts directly depend on the creative design of developers and a particular residential complex. There are concise options in which there are 1 or 2 balconies and other areas are hidden under the roof. In the ultra-luxury versions, the residences are offered with a terrace for relaxation, a swimming pool, and other additional amenities, for example, several parking spaces instead of one.
As a rule, spacious apartments on the top floor are offered in premium-class complexes. This gives owners access to a wide range of additional amenities, among which the most common are:
- A spacious swimming pool
- Landscaped gardens
- A well-thought-out area for organizing children's leisure
- A fitness centre
- A spa
Housing is commissioned furnished and ready to move in. Often, world-famous brands take part in the property’s development, which guarantees the interiors’ uniqueness. You can buy an empty apartment or find an option with furniture. The developers commission housing with installed plumbing, built-in wardrobes in the bedrooms, household appliances in the kitchen and the laundry. The air conditioning system is also a must.
The uniqueness of the Palm Jumeirah archipelago is in its origin. Initially, the creation of the island was planned to expand the coastline of Dubai and attract tourists. However, it quickly became clear that investors were ready to stand in line to buy a mansion in the prestigious resort location. So, not only 5-star hotels, but also modern residential complexes appeared on the man-made island. Here are 4 reasons to buy property in the area:
- Uniqueness and status. Owning property on the Palm Jumeirah is as prestigious as, for example, in Miami.
- Well-developed infrastructure of the territory, which has everything you need for recreation - restaurants, cafes, a water park, and private beaches.
- Proximity to the city centre, which can be reached in 20 minutes.
- Investment attractiveness and high liquidity of the housing.
Foreigners can buy property in the community on an equal footing with the UAE citizens. The area belongs to the zones of free possession (freehold).
Penthouse prices in Palm Jumeirah
The price range is quite wide. In many ways, the prices are influenced by the degree of exclusivity of a particular property and the prestige of the residential community. The estimated cost of a penthouse in Palm Jumeirah, UAE at the time of publication of the article is:
- AED5,000,000 ($1,400,000) for a 3-bedroom penthouse
- AED10,000,000 ($2,700,000) for a 4-bedroom residence
- AED20,000,000 ($5,400,000) for a 2-level penthouse with 5 bedrooms
However, the upper price threshold can be significantly higher. The cost of an one-of-its-kind 5-bedroom penthouse reaches AED139,000,000 ($37,800,000). At the same time, prices tend to increase, so they should be clarified closer to the moment of making a purchase decision.
Investing in a penthouse in Palm Jumeirah will be a profitable step. According to statistics for 2022, Palm Jumeirah is one of the top three areas in which luxury rentals are in demand. Also on this list are the communities of Dubai Marina and Downtown Dubai. Penthouses with 3, 4, and 5 bedrooms are offered for rent:
- 3-bedroom apartments can be rented out for an average of AED800,000 ($218,000), but the maximum rent is practically unlimited. In some ads, you can see offers for AED1,900,000 ($517,500) per year.
- 4-bedroom residences are rented from AED600,000 ($163,500) to AED4,200,000 ($1,100,000) per year.
At the same time, the rent increases every year.
Another investment strategy is to buy a penthouse apartment in Palm Jumeirah with a view to resale. In this case, you can earn income through the annual capitalization of the property value. It is most profitable to invest in off-plan properties under construction, they rise in price by the time of delivery most significantly. You can still find such offers on the island. As the free areas for development fill up, it will be more and more difficult to find a residential complex with a sea view that has not yet been commissioned.
We’ll help you to buy a penthouse in Palm Jumeirah
All the relevant information about luxury housing is collected in one place. On the website you can find ads for the sale of beachfront penthouses. A convenient search system allows you to choose a property by location, number of rooms, or price. Find out how much it can cost to buy a residence on the territory of an artificially created island of Palm Jumeirah in Dubai right now. To get advice from brokers, just contact us in any way convenient for you. They will not only assist you with choosing a property, but are also ready to provide legal assistance in processing the transaction.
