Golden Mile - Sold Prices - Market Trends
Market Trends and Sold Prices in Golden Mile, Palm Jumeirah.
Author Gareth Davies - Award Winning Broker and Property Consultant
The growth in the sold prices at Golden Mile (AED/sq.ft) has been slower in 2024 and 2025 than during 2023. It follows a similar trend in other communities within the trunk of the Palm.
The majority of enquiries are from buyers searching for a property to purchase and occupy themselves - the problem is the lack of apartments available Vacant on Transfer.
The quantity of apartments sold during 2024 was 96 compared to 145 sales in 2023. This is mainly due to the shortage of vacant on transfer apartments to match the demand from buyers who want to purchase their next home.
Reference: Golden Mile : Sales Market Review 2024
Graph: Palm Jumeirah : Sold Price Growth (AED/sq.ft)
Source: Property Monitor
Graph: Golden Mile : Sold Price Growth (AED/sq.ft)
Data Source : Property Monitor
Sold Prices at Golden Mile
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
Source: PropertyMonitor.ae
The sold prices of apartments have a wide-range. This is mainly due to the difference between leased apartments with Tenancy Contracts which have been renewed a few times and the rent increases being restricted, and the more recent Tenancy Contracts with current market rents being paid.
Even more significant is the offers being made for Vacant on Transfer apartments where potential owner-occupier buyers often offer from 5% to 15% more than investors because they want to purchase and occupy themselves (end-user buyers).
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