Oceana Residences - Sold Prices - Market Trends
Sold Prices and Market Trends for Oceana Residences.
Author: Gareth Davies - Award-Winning British Property Consultant
During 2024, the Sold Prices at Oceana (AED/sq.ft) have shown a positive growth each quarter-year, which is more sustainable than the erratic growth experienced in 2023.
Graph: Palm Jumeirah : Sold Price Growth (AED/sq.ft)
Source: Property Monitor
Graph: Oceana Residences : Sold Price Growth
Source: PropertyMonitor.ae
The number of Sold apartments at Oceana during the first-half of 2024 has been less than during the same period of 2023.
The hotel apartments / studios at Dukes Oceana are included in the data to analyze the average for the entire community. However, Dukes has performed below the average during the past twelve months.
Sold Prices at Dukes Oceana
There was a bulk sale of 6 studios during September which sold at AED 1,000,000 each and were significantly above the general trend of sale prices during the past 12 months.
Data source: PropertyMonitor.ae
Sold Prices at Oceana Residences
Source: Property Monitor
Source: PropertyMonitor.ae
Market key points:
Investor-buyers are being attracted by the off-plan market where developers are offering very attractive payment plans including post-handover payments.
There are a lot of Buyers requiring vacant apartments to purchase and occupy themselves but there are only a few available in any month. These potential owner-occupiers will often pay from 5% to 15% more for a vacant on transfer (VOT) apartment than a leased apartment with a tenant occupying,
European buyers are generally attracted to white of light-coloured kitchen cabinets, living rooms with plenty of daylight and bathrooms which have good lighting (such as LED recessed ceiling lights).
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