A villa on the Palm, inspired by the designs of Los Angeles beachfront homes, has sold for Dh63 million, becoming one of the bigger deals in Dubai’s property market during the second quarter. The five-bedroom 8,600 square feet home is on the N frond.
“The home was presented in absolute mint condition – which went well noticed by the buyers,” said Kunal Singh Gupta, Associate Director of Luxhabitat Sotheby’s International Realty, who represented both buyer and seller in the transaction.
The European buyer of the villa is an end-user after recently moving to Dubai with his family. Across the first four months, buyers from Europe had been among the most active, especially in the top-end of the property market.
Over Dh4.6 billion in sales have been recorded so far this year on the Palm, including one for Dh280 million, the costliest deal on a residential space in Dubai. “The most in-demand luxury homes now are those designed in a modern/Mediterranean style, with a larger plot and built-up area as well as mega-mansions with views over beach or golf course or park (depending on the location),” said Gupta.