Looking For A Villa On Dubai’s Palm Jumeirah? This Hack Will Ensure You Get It At A Great Discount

Everything in Dubai seems expensive. Hence, it’s called the city of glam. The lifestyle here is something only riches can afford. So if you also have similar thoughts, let us clear the air. Any plans to buy a property in Dubai? Then fear not, because we will tell you a hack that will help you fetch a villa at discounted prices. Interested to know more?

Auctions Are The Best Way To Buy A Villa With Discount In Dubai

Buyers looking for the finest deals in Dubai’s real estate market should also watch the auction market. As a four-bedroom villa on Palm Jumeirah has recently been listed there for Dh18 million. The price is far less than what a comparable house on the Palm would sell for on the open market, which would be between Dh20 million and Dh25 million, according to the location.

With another high double-digit increase in value year so far, Palm Jumeirah has maintained its position as the best-performing area in all of Dubai’s real estate. According to all indicators, the area will see another round of busy transactions throughout the height of the summer. It has continued to score by closing record agreements on existing and off-plan.

Also Read: How Does Dubai’s Palm Jumeirah Look From The Dubai Balloon? We Got Pics!

Bank Plays A Vital Role In Auctions

More properties are being offered for auction as banks and courts try to sell them for the highest prices possible. As a consequence of the original buyer’s inability to meet their financial responsibilities to the banks, these residences often have gone through foreclosure. Alternately, it’s possible that the land was the subject of a legal dispute, in which case the courts mandated its sale.

The banks’ plan for participating in the auction is obvious. There is no better opportunity than the present to recover their investment in real estate, particularly a luxurious house. According to industry insiders, summer will likely bring about a few more significant drops in sale prices as demand for upmarket properties like villas in Dubai remains at an all-time high. The finest aspect of the villa going up for auction is that there are no responsibilities for the new investor.

So keep an eye out for such discounted properties in Dubai and grab some deals.

Cover Image Courtesy: Jumeirah Mina A’Salam