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3-bed · 2,049 sqftPalazzo Versace, Culture Village · 7th floor · completed 2015

1701, Palazzo Versace

Sold prices and rental history: sold twice, last in January 2022, and rented continuously since 2018. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1701 · DLD and Ejari recordsUpdated 6 January 2022
Last soldAED 3.4M6 January 2022
Current rentAED 158K /yr3 January 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1701, Palazzo Versace

What is 1701 worth today?

Last sold for AED 3,400,000 in 2022

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6 Jan 2022SoldReady
AED 3,400,000AED 1,659 per sqft
3 Jan 2022RentedNew contract
AED 157,500/yr12 months · AED 77 per sqft
3 Jan 2021RentedNew contract
AED 150,000/yr12 months · AED 73 per sqft
9 Sep 2019RentedNew contract
AED 185,000/yr12 months · AED 90 per sqft
22 May 2019RentedRenewal
AED 186,000/yr12 months · AED 91 per sqft
22 May 2018RentedNew contract
AED 190,000/yr12 months · AED 93 per sqft
23 Oct 2012Sold by developerOff-plan
AED 5,157,500AED 2,517 per sqft

Source: Dubai Land Department. Updated 6 January 2022.

Key facts

Type
3-bed apartment
Size
2,049 sqft
Floor
7th of 8
Parking
B2-W159, B2-W160
Developer
Emirates PV Dubai
Completed
2015
Last sold
AED 3.4M · January 2022
Building
Palazzo Versace

About 1701, Palazzo Versace

1701 is a three-bedroom apartment of 2,049 sqft on the 7th floor of Palazzo Versace, a 8-storey tower in Culture Village completed in 2015 by Emirates PV Dubai. It last sold on 6 January 2022 for AED 3,400,000, or AED 1,659 per sqft, 23% below the AED 2,166 three-beds in the building were fetching at the time.

It has been rented continuously since 2018 on 5 Ejari contracts. The current contract, signed on 3 January 2022, is AED 157,500 a year: a gross yield of 4.6% on the 2022 price.

Sales and rents for 1701 over time

Sales
Unit 1701, 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, October 2012: AED 5,157,500 (AED 2,517 per sqft)Sold, January 2022: AED 3,400,000 (AED 1,659 per sqft)

1701 has sold twice; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1701, 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, May 2018: AED 190,000 a yearRenewal, May 2019: AED 186,000 a yearNew contract, September 2019: AED 185,000 a yearNew contract, January 2021: AED 150,000 a yearNew contract, January 2022: AED 157,500 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 1701 sits

All 65 3-beds →

1701 last sold in January 2022 at AED 1,659 per sqft, 23% below what three-beds in Palazzo Versace were fetching at the time (AED 2,166). 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. 1701's AED 157,500 is at the bottom 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 7th floor

All 166 units in Palazzo Versace
Value
17024-bedNo registered sale
17033-bedAED 12.84M · Jun 2016
17045-bedAED 21.3M · Dec 2023
17052-bedAED 11.79M · Jun 2016
17064-bedAED 9.2M · Mar 2023
17073-bedAED 9M · Feb 2026
17083-bedAED 7.91M · Dec 2012
1–7 of 19

1701, Palazzo Versace in numbers

  • Sold twice: first on 23 October 2012 for AED 5,157,500, last on 6 January 2022 for AED 3,400,000 (AED 1,659 per sqft).
  • Rented since May 2018 on 5 Ejari contracts, from AED 190,000 to AED 157,500 a year.
  • At AED 157,500 a year the gross yield on the 2022 price is 4.6%.
  • 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 6 January 2022.

Questions about 1701, Palazzo Versace

What did unit 1701 last sell for?

AED 3,400,000 on 6 January 2022: AED 1,659 per sqft for 2,049 sqft. The unit has 2 registered sales; the first was AED 5,157,500 in October 2012.

What is the rent for unit 1701?

AED 157,500 a year on the contract signed on 3 January 2022. The previous contract, from January 2021, was AED 150,000; the unit has been rented since May 2018.

How big is unit 1701?

2,049 sqft (190.4 sqm): a three-bedroom apartment on the 7th floor of a 8-storey tower completed in 2015.

What is unit 1701 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 1701, Palazzo Versace

Starts from the last sale price (AED 3.4M, 6 January 2022). Switch to today's estimate once you have unlocked it.
Price
AED 3,400,000
Deposit, UAE resident (20%)
AED 680,000
Deposit, non-resident (40%)
AED 1,360,000
Monthly over 25 years at 3.7%
AED 13,910

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