506, The Address Residence Sky View 1
Sold prices and rental history: sold 4 times, last in October 2024, and rented since 2022. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 506, The Address Residence Sky View 1
What is 506 worth today?
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Source: Dubai Land Department. Updated 18 October 2024.
Key facts
- Type
- 2-bed hotel apartment
- Size
- 1,699 sqft
- Floor
- 5th of 58
- Parking
- B2-20
- Developer
- Emaar
- Completed
- 2019
- Last sold
- AED 7.2M · October 2024
- Building
- The Address Residence Sky View 1
About 506, The Address Residence Sky View 1
506 is a two-bedroom hotel apartment of 1,699 sqft on the 5th floor of The Address Residence Sky View 1, a 58-storey tower in Downtown Dubai completed in 2019 by Emaar. It last sold on 18 October 2024 for AED 7,200,000, or AED 4,237 per sqft, 9% above the AED 3,885 two-beds in the building were fetching at the time.
It has been rented since 2022 on 3 Ejari contracts. The current contract, signed on 16 November 2023, is AED 375,000 a year: a gross yield of 5.2% on the 2024 price.
Sales and rents for 506 over time
506 has sold 4 times; the dashed line is the two-bed median of each year in the building.
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in The Address Residence Sky View 1, and where 506 sits
All 159 2-beds →506 last sold in October 2024 at AED 4,237 per sqft, 9% above what two-beds in The Address Residence Sky View 1 were fetching at the time (AED 3,885). Over the last 12 months two-beds sold for AED 1,800,000 to 8,525,000, around AED 3,825 per sqft, and rent for AED 190,000 to 450,000 a year. 506's AED 375,000 is in the upper half of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 23 Oct 202623 October 2026 | 1,543 sqft | 5,050,000 | 3,271 | ||
| 13 Oct 202613 October 2026 | 1,699 sqft | 7,665,888 | 4,511 | ||
| 16 Sep 202616 September 2026 | 1,699 sqft | 6,800,000 | 4,002 | ||
| 10 Aug 202610 August 2026 | 1,699 sqft | 7,000,000 | 4,119 |
The Address Residence Sky View 1
Building326 apartments, 1-bed to 5-bed over 58 floors in Downtown Dubai, completed in 2019 by Emaar. 30 sold in the last 12 months.
- Typical price per sqft
- AED 3,825 Level
- Typical sale
- AED 6.5M
- Typical rent
- AED 300K /yr
- Typical yield
- 5.4%
Other units on the 5th floor
All 326 units in The Address Residence Sky View 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 3-bed | 1,851 sqft | AED 4.53MAED 4,533,888 · Mar 2015March 2015 | ||
| 503 | 2-bed | 1,519 sqft | AED 5.7MAED 5,700,000 · Jan 2026January 2026 | 120,000 /yr | |
| 504 | 2-bed | 1,699 sqft | AED 4MAED 4,000,000 · Jan 2025January 2025 | 299,169 /yr | |
| 505 | 3-bed | 2,428 sqft | AED 5.46MAED 5,461,888 · Oct 2013October 2013 | 450,000 /yr | |
| 507 | 2-bed | 1,518 sqft | AED 5.5MAED 5,500,000 · Feb 2026February 2026 | ||
| 508 | 1-bed | 872 sqft | AED 2.04MAED 2,041,888 · Dec 2013December 2013 | 170,000 /yr | |
| 509 | 1-bed | 1,157 sqft | AED 2.46MAED 2,459,888 · Dec 2013December 2013 | 200,000 /yr |
506, The Address Residence Sky View 1 in numbers
- Sold 4 times: first on 11 December 2013 for AED 4,066,888, last on 18 October 2024 for AED 7,200,000 (AED 4,237 per sqft).
- Rented since May 2022 on 3 Ejari contracts, from AED 335,000 to AED 375,000 a year.
- At AED 375,000 a year the gross yield on the 2024 price is 5.2%.
- Two-beds in The Address Residence Sky View 1 sold for AED 1,800,000–8,525,000 in the 12 months to November 2026; the building's median across all types is AED 3,825 per sqft.
Source: Dubai Land Department. Updated 18 October 2024.
Questions about 506, The Address Residence Sky View 1
What did unit 506 last sell for?
AED 7,200,000 on 18 October 2024: AED 4,237 per sqft for 1,699 sqft. The unit has 4 registered sales; the first was AED 4,066,888 in December 2013.
What is the rent for unit 506?
AED 375,000 a year on the contract signed on 16 November 2023. The previous contract, from August 2023, was AED 410,000; the unit has been rented since May 2022.
How big is unit 506?
1,699 sqft (157.8 sqm): a two-bedroom hotel apartment on the 5th floor of a 58-storey tower completed in 2019.
What is unit 506 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in The Address Residence Sky View 1 sold for AED 1,800,000 to 8,525,000 in the last 12 months, around AED 3,825 per sqft.
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Mortgage on 506, The Address Residence Sky View 1
Starts from the last sale price (AED 7.2M, 18 October 2024). Switch to today's estimate once you have unlocked it.- Price
- AED 7,200,000
- Deposit, UAE resident (20%)
- AED 1,440,000
- Deposit, non-resident (40%)
- AED 2,880,000
- Monthly over 25 years at 3.7%
- AED 29,457
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →