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2-bed · 2,098 sqftBalqis Residence 1, Palm Jumeirah · 5th floor · completed 2019

503, Balqis Residence 1

Sold prices and rental history: sold 4 times, last in September 2022, and no registered rental contract. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 503 · DLD and Ejari recordsUpdated 9 September 2022
Last soldAED 3.25M9 September 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 503, Balqis Residence 1

What is 503 worth today?

Last sold for AED 3,250,000 in 2022

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9 Sep 2022SoldReady
AED 3,250,000AED 1,549 per sqft
8 Oct 2019SoldOff-plan
AED 1,650,000AED 786 per sqft
10 Dec 2015SoldOff-plan
AED 3,135,000AED 1,494 per sqft
17 Aug 2009Sold by developerOff-plan
AED 3,135,000AED 1,494 per sqft

Source: Dubai Land Department. Updated 9 September 2022.

Key facts

Type
2-bed apartment
Size
2,098 sqft
Floor
5th of 11
Parking
B-19
Developer
Balqis Residence
Completed
2019
Service charge
AED 37,400 /yr
Last sold
AED 3.25M · September 2022
Building
Balqis Residence 1

About 503, Balqis Residence 1

503 is a two-bedroom apartment of 2,098 sqft on the 5th floor of Balqis Residence 1, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 9 September 2022 for AED 3,250,000, or AED 1,549 per sqft, 11% above the AED 1,394 two-beds in the building were fetching at the time.

No rental contract for the unit is registered on Ejari.

Sales and rents for 503 over time

Sales
Unit 503, each saleTypical two-bed in Balqis Residence 1
2M3M4M2009201420192024Typical sale price by year: 2009 AED 3,500,000; 2012 AED 2,950,000; 2013 AED 3,235,801; 2019 AED 1,845,000; 2021 AED 2,300,000; 2022 AED 3,100,000; 2024 AED 3,550,000; 2025 AED 3,850,000Sold by developer, August 2009: AED 3,135,000 (AED 1,494 per sqft)Sold, December 2015: AED 3,135,000 (AED 1,494 per sqft)Sold, October 2019: AED 1,650,000 (AED 786 per sqft)Sold, September 2022: AED 3,250,000 (AED 1,549 per sqft)

503 has sold 4 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 503, each contractTypical two-bed in Balqis Residence 1
100K200K20192021202320252027Typical rent by year: 2019 AED 117,500; 2020 AED 119,922; 2021 AED 112,000; 2022 AED 143,125; 2023 AED 210,000; 2024 AED 211,195; 2025 AED 230,000; 2026 AED 200,000

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

2-beds in Balqis Residence 1, and where 503 sits

All 22 2-beds →

503 last sold in September 2022 at AED 1,549 per sqft, 11% above what two-beds in Balqis Residence 1 were fetching at the time (AED 1,394). Over the last 12 months two-beds sold for AED 6,500,000, around AED 3,098 per sqft, and rent for AED 125,000 to 271,500 a year.

Recent 2-bed salesUnit no.Price (AED)Summary
25 Nov 20256,500,000
22 Apr 20253,750,000
18 Feb 20253,850,000
20 Nov 20244,000,000
1 2-bed sale in the last 12 months

Balqis Residence 1

Building

54 apartments, 2-bed to 6-bed over 11 floors in Palm Jumeirah, completed in 2019 by Balqis Residence. 5 sold in the last 12 months.

Typical price per sqft
AED 2,722
Typical sale
AED 9.15M
Typical rent
AED 305K /yr
Typical yield
4.0%
Balqis Residence 1, Palm Jumeirah: prices, sales and rents →

Other units on the 5th floor

All 54 units in Balqis Residence 1
Value
5013-bedAED 8.1M · Apr 2023
5023-bedAED 10.5M · Jun 2022
5043-bedAED 2.1M · May 2021
5054-bedAED 2.95M · May 2021
5062-bedAED 1.85M · Oct 2019

503, Balqis Residence 1 in numbers

  • Sold 4 times: first on 17 August 2009 for AED 3,135,000, last on 9 September 2022 for AED 3,250,000 (AED 1,549 per sqft).
  • Two-beds in Balqis Residence 1 sold for AED 6,500,000–6,500,000 in the 12 months to November 2026; the building's median across all types is AED 2,722 per sqft.

Source: Dubai Land Department. Updated 9 September 2022.

Questions about 503, Balqis Residence 1

What did unit 503 last sell for?

AED 3,250,000 on 9 September 2022: AED 1,549 per sqft for 2,098 sqft. The unit has 4 registered sales; the first was AED 3,135,000 in August 2009.

How big is unit 503?

2,098 sqft (194.9 sqm): a two-bedroom apartment on the 5th floor of a 11-storey tower completed in 2019.

What is unit 503 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Balqis Residence 1 sold for AED 6,500,000 to 6,500,000 in the last 12 months, around AED 3,098 per sqft.

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Mortgage on 503, Balqis Residence 1

Starts from the last sale price (AED 3.25M, 9 September 2022). Switch to today's estimate once you have unlocked it.
Price
AED 3,250,000
Deposit, UAE resident (20%)
AED 650,000
Deposit, non-resident (40%)
AED 1,300,000
Monthly over 25 years at 3.7%
AED 13,297

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