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1-bed · 645 sqftPark Heights 2 Tower 1, Dubai Hills Estate · completed 2020

509, Park Heights 2 Tower 1

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

Unit 509 · DLD and Ejari recordsUpdated 30 May 2023
Last soldAED 1.02M30 May 2023
Current rentAED 58K /yr25 March 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 509, Park Heights 2 Tower 1

What is 509 worth today?

Last sold for AED 1,020,000 in 2023

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30 May 2023SoldReady
AED 1,020,000AED 1,580 per sqft
25 Mar 2023RentedRenewal
AED 58,000/yr12 months · AED 90 per sqft
25 Mar 2022RentedRenewal
AED 48,000/yr12 months · AED 74 per sqft
25 Mar 2021RentedNew contract
AED 40,000/yr12 months · AED 62 per sqft
4 Jan 2018Sold by developerOff-plan
AED 853,888AED 1,323 per sqft

Source: Dubai Land Department. Updated 30 May 2023.

Key facts

Type
1-bed apartment
Size
645 sqft
Parking
PH2-G-200
Developer
Dubai Hills Estate
Completed
2020
Service charge
AED 16,600 /yr
Last sold
AED 1.02M · May 2023
Building
Park Heights 2 Tower 1

About 509, Park Heights 2 Tower 1

509 is a one-bedroom apartment of 645 sqft of Park Heights 2 Tower 1, a 17-storey tower in Dubai Hills Estate completed in 2020 by Dubai Hills Estate. It last sold on 30 May 2023 for AED 1,020,000, or AED 1,580 per sqft, 7% above the AED 1,481 one-beds in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, renewed on 25 March 2023, is AED 58,000 a year: a gross yield of 5.7% on the 2023 price, before the service charge of about AED 16,600 a year.

Sales and rents for 509 over time

Sales
Unit 509, each saleTypical one-bed in Park Heights 2 Tower 1
1M1.5M2017202020232026Typical sale price by year: 2017 AED 865,888; 2018 AED 858,888; 2019 AED 863,888; 2020 AED 883,888; 2021 AED 750,000; 2022 AED 910,000; 2023 AED 1,035,550; 2024 AED 1,265,000; 2025 AED 1,430,000; 2026 AED 1,280,000Sold by developer, January 2018: AED 853,888 (AED 1,323 per sqft)Sold, May 2023: AED 1,020,000 (AED 1,580 per sqft)

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

Rents
Unit 509, each contractTypical one-bed in Park Heights 2 Tower 1
50K75K2020202220242026Typical rent by year: 2020 AED 43,000; 2021 AED 40,000; 2022 AED 47,250; 2023 AED 60,000; 2024 AED 82,500; 2025 AED 85,000; 2026 AED 85,000New contract, March 2021: AED 40,000 a yearRenewal, March 2022: AED 48,000 a yearRenewal, March 2023: AED 58,000 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 2 Tower 1, and where 509 sits

All 149 1-beds →

509 last sold in May 2023 at AED 1,580 per sqft, 7% above what one-beds in Park Heights 2 Tower 1 were fetching at the time (AED 1,481). Over the last 12 months one-beds sold for AED 1,200,000 to 2,010,000, around AED 2,115 per sqft, and rent for AED 60,000 to 110,000 a year. 509's AED 58,000 is at the bottom of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
26 Aug 20261,250,000
17 Aug 20261,280,000
16 Jun 20261,200,000
14 Apr 20261,270,000
11 1-bed sales in the last 12 months

Park Heights 2 Tower 1

Building

42 apartments, 1-bed to 3-bed over 17 floors in Dubai Hills Estate, completed in 2020 by Dubai Hills Estate. 24 sold in the last 12 months.

Typical price per sqft
AED 2,039 Down 4.9%
Typical sale
AED 1.64M
Typical rent
AED 100K /yr
Typical yield
6.3%
Park Heights 2 Tower 1, Dubai Hills Estate: prices, sales and rents →

509, Park Heights 2 Tower 1 in numbers

  • Sold twice: first on 4 January 2018 for AED 853,888, last on 30 May 2023 for AED 1,020,000 (AED 1,580 per sqft).
  • Rented since March 2021 on 3 Ejari contracts, from AED 40,000 to AED 58,000 a year.
  • At AED 58,000 a year the gross yield on the 2023 price is 5.7%, before a service charge of about AED 16,600 a year (AED 25.65 per sqft).
  • One-beds in Park Heights 2 Tower 1 sold for AED 1,200,000–2,010,000 in the 12 months to November 2026; the building's median across all types is AED 2,039 per sqft.

Source: Dubai Land Department. Updated 30 May 2023.

Questions about 509, Park Heights 2 Tower 1

What did unit 509 last sell for?

AED 1,020,000 on 30 May 2023: AED 1,580 per sqft for 645 sqft. The unit has 2 registered sales; the first was AED 853,888 in January 2018.

What is the rent for unit 509?

AED 58,000 a year on the contract renewed on 25 March 2023. The previous contract, from March 2022, was AED 48,000; the unit has been rented since March 2021.

How big is unit 509?

645 sqft (59.9 sqm): a one-bedroom apartment of a 17-storey tower completed in 2020.

What is unit 509 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 2 Tower 1 sold for AED 1,200,000 to 2,010,000 in the last 12 months, around AED 2,115 per sqft.

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Mortgage on 509, Park Heights 2 Tower 1

Starts from the last sale price (AED 1.02M, 30 May 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,020,000
Deposit, UAE resident (20%)
AED 204,000
Deposit, non-resident (40%)
AED 408,000
Monthly over 25 years at 3.7%
AED 4,173

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