Investors splash out on palm jumeirah property

Investors are splashing out on property in Palm Jumeirah. New figures from Reidin.com (shared exclusively with Emirates 24/7) show that the iconic resort in Dubai remains popular among buyers, with investors spending just over $59 million on six properties during the second quarter of 2014.

The most expensive transaction during the three months was a villa that sold for over $16 million, as the Palm drives the biggest Dubai deals for the second quarter in a row. Indeed, the Palm accounted for nine of the 10 biggest villa sales in the first quarter, with Russian, Iranian and Indian buyers reportedly driving activity.