Palm price plummet

Prices of properties on The Palm have hit an all-time low

At one stage, we might all have been a bit jealous of anyone who owned a place on Palm Jumeirah, but not anymore.

House prices on Nakheel's flagship project have fallen below Dhs800 per square foot for the first time in over three years - and nearly 60 percent down in the past five months, according to a report from Arabian Business.

Agents are now looking to offload three bedroom apartments covering 2,184 square foot for just Dhs1.7 million, representing only Dhs778 per square foot.

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