2011 was a good year for Palm villas as they appreciated considerably in value. On average garden homes and signature villas rose by upto 25% with Canal Coves also looking at a 20% improvement.
The Palm offers beachfronted property in a sector of the market that has restricted supply. This supply of well located property is not going to improve any time soon as the chairman of Nakheel , Ali Lootah, announced today that jabel ali and Deira are long term projects and will not be developed 'any time soon'.
Good news for Palm Jumeirah but ultimately the market needs more choice. At some point prices will look 'frothy' on the Palm Jumeirah and it will be intersting to see how far they can rise. One thing is certain though - prices on Palm Jumeirah will rise in 2012.
