Anyone considering buying this Dh20 million five-bedroom villa currently on the market at Jumeirah Islands’ Mansions in Dubai will wish they had bought three years ago.
At the start of 2011, villas similar to this property were going for between Dh6.4 million and Dh6.5m. That could earn a more than 300 per cent profit for some buyers – assuming they had the luck or judgement to buy and sell at the right time.
Timing is certainly key when it comes to property investment. Similar properties sold by the master developer Nakheel in 2008 – when the homes had not even been completed – went for as much as Dh25.25m at private auction.
If you do decide to splash out, this grand 8,452 square foot mansion offers quite a bit for your money. The property comes with a large temperature-controlled private swimming pool, five bedrooms, five bathrooms, a balcony and four parking spaces.
And, as part of the Jumeirah Islands scheme, the mansion is located on an island in an artificial lake, providing the villa with views of shimmering lake water.
Anjana Mahna, the estate agent marketing the home says that the owner is willing to take offers at “around the asking price”.
“There is nothing else of this quality and in this location available for a cheaper price,” adds Ms Mahna, a property consultant for Better Homes. “The Mansions in Jumeirah Islands offer stunning views of nature and the surrounding waterways, while still providing the utmost in privacy and security.”
Local agents agree that for those currently looking for a luxury Dubai villa in an established location, Jumeirah Islands Mansions – a development of 31 palatial villas at the centre of Nakheel’s Jumeirah Island project – is not a bad shout.
Similar villas at Emaar's Emirates Hills development are currently selling for around Dh30m.
But, as anyone who invests in real estate – especially Dubai real estate – knows, whether or not you’re buying at a good price is only something you can say for certain when you sell.
lbarnard@thenational.ae
Follow us on Twitter @Ind_Insights
