507, Mazaya - Farah Tower 1
Sold prices and rental history: sold once, by the developer in September 2015, and rented continuously since 2015. Every registered sale and contract is below; today's estimate is free after a one-time verification.
Property timeline for 507, Mazaya - Farah Tower 1
What is 507 worth today?
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Source: Dubai Land Department. Updated 15 November 2018.
Key facts
- Type
- 2-bed apartment
- Size
- 1,066 sqft
- Floor
- 5th of 9
- Parking
- G-66
- Developer
- Al Mazaya Real Estate
- Completed
- 2014
- Service charge
- AED 12,000 /yr
- Last sold
- AED 484K · September 2015
- Building
- Mazaya - Farah Tower 1
About 507, Mazaya - Farah Tower 1
507 is a two-bedroom apartment of 1,066 sqft on the 5th floor of Mazaya - Farah Tower 1, a 9-storey tower in Liwan completed in 2014 by Al Mazaya Real Estate. The developer sold it on 22 September 2015 for AED 483,952, or AED 453 per sqft, in line with the AED 453 two-beds in the building were fetching at the time.
It has been rented continuously since 2015 on 4 Ejari contracts. The current contract, signed on 15 November 2018, is AED 40,000 a year: a gross yield of 8.3% on the 2015 price, before the service charge of about AED 12,000 a year.
Sales and rents for 507 over time
507 has sold once; 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 Mazaya - Farah Tower 1, and where 507 sits
All 18 2-beds →507 last sold in September 2015 at AED 453 per sqft, in line with what two-beds in Mazaya - Farah Tower 1 were fetching at the time (AED 453). 507's AED 40,000 is at the bottom of that range.
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 22 Jul 202422 July 2024 | 1,081 sqft | 700,000 | 647 | ||
| 10 Oct 202210 October 2022 | 1,082 sqft | 545,000 | 503 | ||
| 14 Feb 202214 February 2022 | 1,067 sqft | 535,000 | 501 | ||
| 30 Aug 202030 August 2020 | 1,067 sqft | 515,000 | 482 |
Mazaya - Farah Tower 1
Building81 apartments, 1-bed to 2-bed over 9 floors in Liwan, completed in 2014 by Al Mazaya Real Estate. 5 sold in the last 12 months.
- Typical price per sqft
- AED 845
- Typical sale
- AED 550K
- Typical rent
- AED 45K /yr
- Typical yield
- 6.9%
Other units on the 5th floor
All 81 units in Mazaya - Farah Tower 1| ValueToday's value | |||||
|---|---|---|---|---|---|
| 501 | 1-bed | 651 sqft | AED 572KAED 572,294 · May 2009May 2009 | 23,000 /yr | |
| 502 | 1-bed | 758 sqft | AED 610KAED 610,000 · Nov 2015November 2015 | ||
| 503 | 1-bed | 651 sqft | AED 550KAED 550,000 · Feb 2026February 2026 | 42,000 /yr | |
| 504 | 1-bed | 814 sqft | AED 300KAED 300,000 · Nov 2021November 2021 | 50,000 /yr | |
| 505 | 1-bed | 815 sqft | AED 300KAED 300,000 · Nov 2021November 2021 | 47,000 /yr | |
| 506 | 2-bed | 1,067 sqft | AED 825KAED 825,000 · Sep 2015September 2015 | 60,000 /yr | |
| 508 | 1-bed | 812 sqft | AED 734KAED 733,780 · May 2009May 2009 | 43,000 /yr | |
| 509 | 1-bed | 811 sqft | AED 610KAED 610,000 · Mar 2017March 2017 | 36,000 /yr |
507, Mazaya - Farah Tower 1 in numbers
- Sold once: by Al Mazaya Real Estate on 22 September 2015 for AED 483,952, or AED 453 per sqft.
- Rented since June 2015 on 4 Ejari contracts. The rent fell from AED 71,000 to AED 30,000 in 2018 and recovered to AED 40,000 by November 2018.
- At AED 40,000 a year the gross yield on the 2015 price is 8.3%, before a service charge of about AED 12,000 a year (AED 11.30 per sqft).
Source: Dubai Land Department. Updated 15 November 2018.
Questions about 507, Mazaya - Farah Tower 1
What did unit 507 last sell for?
AED 483,952 on 22 September 2015, sold by the developer: AED 453 per sqft for 1,066 sqft. It is the only registered sale of the unit.
What is the rent for unit 507?
AED 40,000 a year on the contract signed on 15 November 2018. The previous contract, from June 2018, was AED 30,000; the unit has been rented since June 2015.
How big is unit 507?
1,066 sqft (99.0 sqm): a two-bedroom apartment on the 5th floor of a 9-storey tower completed in 2014.
What is unit 507 worth today?
The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.
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Mortgage on 507, Mazaya - Farah Tower 1
Starts from the last sale price (AED 484K, 22 September 2015). Switch to today's estimate once you have unlocked it.- Price
- AED 483,952
- Deposit, UAE resident (20%)
- AED 96,790
- Deposit, non-resident (40%)
- AED 193,581
- Monthly over 25 years at 3.7%
- AED 1,980
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →