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3-bed · 2,239 sqftPalazzo Versace, Culture Village · 4th floor · completed 2015

1408, Palazzo Versace

Sold prices and rental history: sold once, by the developer in March 2013, and rented continuously since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1408 · DLD and Ejari recordsUpdated 19 September 2022
Last soldAED 6.26M12 March 2013
Current rentAED 390K /yr19 September 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1408, Palazzo Versace

What is 1408 worth today?

Last sold for AED 6,261,300 in 2013

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19 Sep 2022RentedNew contract
AED 390,000/yr12 months · AED 174 per sqft
10 Oct 2020RentedNew contract
AED 180,000/yr12 months · AED 80 per sqft
3 Mar 2020RentedRenewal
AED 205,000/yr12 months · AED 92 per sqft
20 Aug 2019RentedRenewal
AED 196,452/yr6 months · AED 88 per sqft
20 Aug 2018RentedNew contract
AED 235,000/yr12 months · AED 105 per sqft
15 Oct 2017RentedRenewal
AED 260,001/yr7 months · AED 116 per sqft
15 Oct 2016RentedNew contract
AED 260,000/yr12 months · AED 116 per sqft
12 Mar 2013Sold by developerOff-plan
AED 6,261,300AED 2,796 per sqft

Source: Dubai Land Department. Updated 19 September 2022.

Key facts

Type
3-bed apartment
Size
2,239 sqft
Floor
4th of 8
Parking
B1M-W002, B1M-W003
Developer
Emirates PV Dubai
Completed
2015
Last sold
AED 6.26M · March 2013
Building
Palazzo Versace

About 1408, Palazzo Versace

1408 is a three-bedroom apartment of 2,239 sqft on the 4th floor of Palazzo Versace, a 8-storey tower in Culture Village completed in 2015 by Emirates PV Dubai. The developer sold it on 12 March 2013 for AED 6,261,300, or AED 2,796 per sqft, 18% above the AED 2,360 three-beds in the building were fetching at the time.

It has been rented continuously since 2016 on 7 Ejari contracts. The current contract, signed on 19 September 2022, is AED 390,000 a year: a gross yield of 6.2% on the 2013 price.

Sales and rents for 1408 over time

Sales
Unit 1408, each saleTypical three-bed in Palazzo Versace
5M10M2009201420192024Typical sale price by year: 2009 AED 12,841,100; 2012 AED 6,879,300; 2013 AED 8,041,188; 2014 AED 9,897,600; 2015 AED 12,400,000; 2016 AED 9,920,550; 2018 AED 4,706,000; 2019 AED 3,543,958; 2021 AED 5,000,000; 2022 AED 4,675,567; 2024 AED 5,197,500; 2025 AED 5,500,000; 2026 AED 7,400,000Sold by developer, March 2013: AED 6,261,300 (AED 2,796 per sqft)

1408 has sold once; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1408, each contractTypical three-bed in Palazzo Versace
200K400K2016201920222025Typical rent by year: 2016 AED 315,000; 2017 AED 335,000; 2018 AED 310,000; 2019 AED 257,500; 2020 AED 235,000; 2021 AED 238,457; 2022 AED 350,000; 2023 AED 397,500; 2024 AED 435,000; 2025 AED 405,000; 2026 AED 422,500New contract, October 2016: AED 260,000 a yearRenewal, October 2017: AED 260,001 a yearNew contract, August 2018: AED 235,000 a yearRenewal, August 2019: AED 196,452 a yearRenewal, March 2020: AED 205,000 a yearNew contract, October 2020: AED 180,000 a yearNew contract, September 2022: AED 390,000 a year

Annual rent on each registered contract; the dashed line is the three-bed median of each year in the building.

3-beds in Palazzo Versace, and where 1408 sits

All 65 3-beds →

1408 last sold in March 2013 at AED 2,796 per sqft, 18% above what three-beds in Palazzo Versace were fetching at the time (AED 2,360). Over the last 12 months three-beds sold for AED 3,574,440 to 10,400,000, around AED 2,051 per sqft, and rent for AED 300,000 to 800,000 a year. 1408's AED 390,000 is in the lower half of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
5 Oct 202610,400,000
6 Jul 20264,250,000
12 Feb 20265,800,000
11 Feb 20269,000,000
5 3-bed sales in the last 12 months

Palazzo Versace

Building

166 apartments, 1-bed to 6-bed over 8 floors in Culture Village, completed in 2015 by Emirates PV Dubai. 15 sold in the last 12 months.

Typical price per sqft
AED 2,051 Down 0.3%
Typical sale
AED 3.9M
Typical rent
AED 267K /yr
Typical yield
6.0%
Palazzo Versace, Culture Village: prices, sales and rents →

Other units on the 4th floor

All 166 units in Palazzo Versace
Value
14012-bedAED 11.83M · Feb 2009
14023-bedAED 18.23M · Feb 2009
14032-bedAED 3.2M · Aug 2023
14054-bedAED 9M · Aug 2019
14062-bedAED 4.21M · Oct 2012
14072-bedAED 4.34M · Nov 2012
14093-bedAED 11.98M · Dec 2013
1–7 of 22

1408, Palazzo Versace in numbers

  • Sold once: by Emirates PV Dubai on 12 March 2013 for AED 6,261,300, or AED 2,796 per sqft.
  • Rented since October 2016 on 7 Ejari contracts. The rent fell from AED 260,000 to AED 180,000 in 2020 and recovered to AED 390,000 by September 2022.
  • At AED 390,000 a year the gross yield on the 2013 price is 6.2%.
  • Three-beds in Palazzo Versace sold for AED 3,574,440–10,400,000 in the 12 months to November 2026; the building's median across all types is AED 2,051 per sqft.

Source: Dubai Land Department. Updated 19 September 2022.

Questions about 1408, Palazzo Versace

What did unit 1408 last sell for?

AED 6,261,300 on 12 March 2013, sold by the developer: AED 2,796 per sqft for 2,239 sqft. It is the only registered sale of the unit.

What is the rent for unit 1408?

AED 390,000 a year on the contract signed on 19 September 2022. The previous contract, from October 2020, was AED 180,000; the unit has been rented since October 2016.

How big is unit 1408?

2,239 sqft (208.0 sqm): a three-bedroom apartment on the 4th floor of a 8-storey tower completed in 2015.

What is unit 1408 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Palazzo Versace sold for AED 3,574,440 to 10,400,000 in the last 12 months, around AED 2,051 per sqft.

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Mortgage on 1408, Palazzo Versace

Starts from the last sale price (AED 6.26M, 12 March 2013). Switch to today's estimate once you have unlocked it.
Price
AED 6,261,300
Deposit, UAE resident (20%)
AED 1,252,260
Deposit, non-resident (40%)
AED 2,504,520
Monthly over 25 years at 3.7%
AED 25,617

Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →