Will the value of real estate in Jumeirah Bay Island, Emirates Hills and Palm Jumeirah increase by 100% in a year? Given that market sources mention several likely acquisitions that could increase the value of these three ultra-modern facilities in the city, this seems like a very real possibility.
The above districts appear to have done well during the 2022 year ending September 2022. There has been a 29% increase in value since July 2022, as rich people from the UAE and other countries rush to purchase real estate in the UAE. The most expensive deal in the Dubai real estate sector recently occurred with a villa on the Palm Tree, which was sold for 302.5 million dirhams.
In fact, according to the consulting company Knight Frank, the value of real estate in Palm Jumeirah has increased by more than 100% since the beginning of the pandemic in 2020. Sales of $10 million homes, or what are called «ultra-modern houses», have already reached a new high.