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1-bed · 646 sqftPark Heights 1, Dubai Hills Estate · completed 2020

506, Park Heights 1

Sold prices and rental history: sold 3 times, last in April 2023, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 506 · DLD and Ejari recordsUpdated 1 September 2024
Last soldAED 962K11 April 2023
Current rentAED 80K /yr1 September 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 506, Park Heights 1

What is 506 worth today?

Last sold for AED 962,000 in 2023

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1 Sep 2024RentedNew contract
AED 80,000/yr12 months · AED 124 per sqft
5 Jul 2023RentedNew contract
AED 65,000/yr12 months · AED 101 per sqft
11 Apr 2023SoldReady
AED 962,000AED 1,490 per sqft
5 Jul 2022RentedNew contract
AED 65,000/yr12 months · AED 101 per sqft
16 Jun 2022SoldReady
AED 810,000AED 1,254 per sqft
1 May 2021RentedNew contract
AED 35,000/yr12 months · AED 54 per sqft
24 Jul 2019Sold by developerOff-plan
AED 852,888AED 1,321 per sqft

Source: Dubai Land Department. Updated 1 September 2024.

Key facts

Type
1-bed apartment
Size
646 sqft
Parking
PH1-B-32
Developer
Dubai Hills Estate
Completed
2020
Service charge
AED 16,600 /yr
Last sold
AED 962K · April 2023
Building
Park Heights 1

About 506, Park Heights 1

506 is a one-bedroom apartment of 646 sqft of Park Heights 1, a 18-storey tower in Dubai Hills Estate completed in 2020 by Dubai Hills Estate. It last sold on 11 April 2023 for AED 962,000, or AED 1,490 per sqft, 5% above the AED 1,421 one-beds in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, signed on 1 September 2024, is AED 80,000 a year: a gross yield of 8.3% on the 2023 price, before the service charge of about AED 16,600 a year.

Sales and rents for 506 over time

Sales
Unit 506, each saleTypical one-bed in Park Heights 1
1M1.5M2017202020232026Typical sale price by year: 2017 AED 863,888; 2018 AED 862,888; 2019 AED 864,070; 2020 AED 868,888; 2021 AED 750,000; 2022 AED 917,500; 2023 AED 1,111,000; 2024 AED 1,300,000; 2025 AED 1,387,500; 2026 AED 1,360,000Sold by developer, July 2019: AED 852,888 (AED 1,321 per sqft)Sold, June 2022: AED 810,000 (AED 1,254 per sqft)Sold, April 2023: AED 962,000 (AED 1,490 per sqft)

506 has sold 3 times; the dashed line is the one-bed median of each year in the building.

Rents
Unit 506, each contractTypical one-bed in Park Heights 1
50K75K2020202220242026Typical rent by year: 2020 AED 44,000; 2021 AED 41,884; 2022 AED 48,000; 2023 AED 67,425; 2024 AED 80,000; 2025 AED 88,000; 2026 AED 82,750New contract, May 2021: AED 35,000 a yearNew contract, July 2022: AED 65,000 a yearNew contract, July 2023: AED 65,000 a yearNew contract, September 2024: AED 80,000 a year

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

1-beds in Park Heights 1, and where 506 sits

All 144 1-beds →

506 last sold in April 2023 at AED 1,490 per sqft, 5% above what one-beds in Park Heights 1 were fetching at the time (AED 1,421). Over the last 12 months one-beds sold for AED 1,250,000 to 1,490,000, around AED 2,100 per sqft, and rent for AED 65,000 to 135,000 a year. 506's AED 80,000 is in the lower half of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
9 Oct 20261,250,000
3 Jun 20261,360,000
2 Jun 20261,350,000
9 Mar 20261,490,000
10 1-bed sales in the last 12 months

Park Heights 1

Building

44 apartments, 1-bed to 3-bed over 18 floors in Dubai Hills Estate, completed in 2020 by Dubai Hills Estate. 25 sold in the last 12 months.

Typical price per sqft
AED 2,091 Down 1.8%
Typical sale
AED 2.03M
Typical rent
AED 93K /yr
Typical yield
6.2%
Park Heights 1, Dubai Hills Estate: prices, sales and rents →

506, Park Heights 1 in numbers

  • Sold 3 times: first on 24 July 2019 for AED 852,888, last on 11 April 2023 for AED 962,000 (AED 1,490 per sqft).
  • Rented since May 2021 on 4 Ejari contracts, from AED 35,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2023 price is 8.3%, before a service charge of about AED 16,600 a year (AED 25.65 per sqft).
  • One-beds in Park Heights 1 sold for AED 1,250,000–1,490,000 in the 12 months to November 2026; the building's median across all types is AED 2,091 per sqft.

Source: Dubai Land Department. Updated 1 September 2024.

Questions about 506, Park Heights 1

What did unit 506 last sell for?

AED 962,000 on 11 April 2023: AED 1,490 per sqft for 646 sqft. The unit has 3 registered sales; the first was AED 852,888 in July 2019.

What is the rent for unit 506?

AED 80,000 a year on the contract signed on 1 September 2024. The previous contract, from July 2023, was AED 65,000; the unit has been rented since May 2021.

How big is unit 506?

646 sqft (60.0 sqm): a one-bedroom apartment of a 18-storey tower completed in 2020.

What is unit 506 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in Park Heights 1 sold for AED 1,250,000 to 1,490,000 in the last 12 months, around AED 2,100 per sqft.

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Mortgage on 506, Park Heights 1

Starts from the last sale price (AED 962K, 11 April 2023). Switch to today's estimate once you have unlocked it.
Price
AED 962,000
Deposit, UAE resident (20%)
AED 192,400
Deposit, non-resident (40%)
AED 384,800
Monthly over 25 years at 3.7%
AED 3,936

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