Adil Raza Khan | March 29, 2025
Fancy having your own house on the world's largest manmade island? Time to wake up and realize your fanciful dreams in reality as we share with you every useful information on how to be the rightful owner of a house or villas for sale in Palm Jumeirah, Dubai.
Palm Jumeirah is an archipelago of artificial islands, styled in the shape of a palm tree on the Persian Gulf. It is the very icon of Dubai these days and a posh freehold area to foreigners for owning properties. Reportedly, it cost $12 billion (sourced from the gains from Petroleum) to construct it by the state-owned Nakheel real estate developer, who now also builds luxury Palm Jumeirah Villas, and Penthouses.
Palm Jumeirah is the Paradise for people dreaming of living life king-size because:
Why wouldn't someone with fancy-living dreams and resources buy properties on Palm Jumeirah Beach? Find here more interesting facts on Palm Jumeirah properties.
Villas are for those who want a relaxing, private and cosy kind of exclusive and lavish lifestyle. Good for a big-sized family. Cost the highest, usually. Luxury Palm Jumeirah villas might soar high to AED 145,000,000 on average.
Apartments and Penthouses are for those who wish to access a longer list of communal luxury amenities and intend a more socially active lifestyle. Penthouses come with more privacy than apartments. Your chosen residential community and size will determine the price. More affordable than villas.
Average price of Palm Jumeirah Apartments are-
The 5-BR Duplex Penthouse in Como Residences, by Nakheel Properties, cost around AED 43,380,843. They are the ones who built Palm Jumeirah
Townhouses attract those who want a moderate choice of villas without letting go of the vibe totally. More private choices than apartments.
Go through our APIL Properties Palm Jumeirah property offerings to know better.
The loan-to-value ratio (LTV) for residents is usually 80% for properties under AED 5M, while non-residents can access an LTV of 50-75%. A Mortgage Registration fee is applicable as part of the property cost, which is 0.25% of the amount borrowed from banks. The financial profile of the borrower and the lending policies of the bank matters.
For first-time buyers, the Down Payment quotes 20% of the property value. Non-residents would pay 25-35%.
If you are a foreigner residing in Dubai with a valid visa and a source of income, you are eligible to avail 80% of the property purchase value from banks in Dubai. In Dubai, the upper age limit is 65 years and the loan repayment tenure is between 5 to 25 years. For Non-residents, a good credit score and a steady source of income are a must.
Are you aware of what to expect from the property purchasing process in Dubai? We are detailing here the steps necessary for buying villas for sale in Palm Jumeirah. You can follow it also for other property-type purchase elsewhere In Dubai
Palm Jumeirah villas or any luxury property in Dubai comes with a high price tag (though lesser it is than other global prime destinations like the UK). Have a clear idea about how much you can and have to arrange to get a hold of the property key.
In addition to the property price, you will pay:
Freehold areas are Government-specified zones for foreign ownership for a lifetime. In Leasehold areas, as an expatriate, you can lease a property for up to 99 years. We recommend buying a property in designated Freehold areas!
Decide whether you want a villa or a n apartment for sale in Palm Jumeirah. Though a luxury Palm Jumeirah apartment can cost one a fortune based on size and amenities available, Villas and Penthouses are more on the pricey side. Also, determine if you are okay with waiting for a few years for off-plan properties or are already prepared to relocate here by buying move-in-ready properties.
As discussed before also, crucial factors for property selection anywhere include location connectivity, social amenities nearby, lifestyle amenities offered, security, reputation of the real estate builders and rental yield (if investment is on the mind).
The reputation of the chosen real estate company matters as it shows their credibility in adding value to your journey in Dubai, from property hunting to possessing rightfully.
Even if you have hundreds of reasons to not fly to Dubai for personal property inspection, we suggest you consider it before proceeding. Or, hire the services of professional property inspectors. PS. Some real estate agencies have a full team running to get upfront and personal with your chosen property, on your behalf, for safeguarding your investment in the best possible interest!
If you are okay with the property from all possible aspects, go on securing the deal by paying 5-10 % of the property's value as the reservation deposit. Alongside it, you sign a Memorandum of Understanding (MOU), enlisting the terms of the sale.
In case you are not purchasing the property right now (or anytime)out of your own pocket, you have to opt for mortgage services from the banks in Dubai. Loan to the Value Ratio is a little different for the non-resident expatriates in Dubai. The topic is already discussed in detail in the above section.
The drafting of sales documents will happen at this juncture. These will detail all the vital information regarding the proposed property like price, payment plan and other terms and conditions.
Avail of the NOC Certificate then from the real estate builder of your selected property. It will confirm that you as a buyer adhere to all the required payments and other conditions (if any).
You meet with the seller or real estate developer (or their representative) at the Dubai Land Department to finalize the transfer of ownership of the property. If there is any remaining payment balance, you pay the seller here. A Title Deed is issued
Pay 4% of the property value as a Registration Fee to the Dubai Land of Dispute (DLD). You are the official owner of the property. Other admin fees might be there.
To stay in the property you need electricity, water, and other basic services, right? Go to the Dubai Electricity and Water Authority to get the access. Now, hire a professional property management agency to protect your purchased property. WHY? Find the reasons here.
The Dubai real estate market is attracting new investors (like, young professionals and property investors) each year. And, Palm Jumeirah Beach is the crowning jewel! Hopefully, the information here equips you with the resources to make an informed decision! For in-depth consultation and guidance, have faith in the APIL PROPERTY. A one-stop-for-all Dubai real estate agency can make the entire process effortlessly smooth.
It is available in abundance in Palm Jumeirah
Private beach access on the world's largest manmade islands!
1-BR apartment that too at above AED 2,000,000.
WRITTEN BY
Adil Khan is a Dubai luxury real estate expert with over 13 years of experience in the UAE property market. He is the Chairman of APIL Properties.
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