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2-bed · 3,853 sqftBalqis Residence 2, Palm Jumeirah · 1st floor · completed 2019

102, Balqis Residence 2

Sold prices and rental history: sold twice, last in June 2023, and rented since 2020. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 102 · DLD and Ejari recordsUpdated 15 June 2023
Last soldAED 4.41M15 June 2023
Current rentAED 200K /yr7 October 2022
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 102, Balqis Residence 2

What is 102 worth today?

Last sold for AED 4,413,462 in 2023

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15 Jun 2023SoldReady
AED 4,413,462AED 1,145 per sqft
7 Oct 2022RentedNew contract
AED 200,000/yr12 months · AED 52 per sqft
15 Aug 2020RentedNew contract
AED 110,000/yr12 months · AED 28 per sqft
4 Nov 2012Sold by developerOff-plan
AED 3,300,000AED 856 per sqft

Source: Dubai Land Department. Updated 15 June 2023.

Key facts

Type
2-bed apartment
Size
3,853 sqft
Floor
1st of 11
Parking
G-63
Developer
Balqis Residence
Completed
2019
Service charge
AED 68,600 /yr
Last sold
AED 4.41M · June 2023
Building
Balqis Residence 2

About 102, Balqis Residence 2

102 is a two-bedroom apartment of 3,853 sqft on the 1st floor of Balqis Residence 2, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 15 June 2023 for AED 4,413,462, or AED 1,145 per sqft, 26% below the AED 1,539 two-beds in the building were fetching at the time.

It has been rented since 2020 on 2 Ejari contracts. The current contract, signed on 7 October 2022, is AED 200,000 a year: a gross yield of 4.5% on the 2023 price, before the service charge of about AED 68,600 a year.

Sales and rents for 102 over time

Sales
Unit 102, each saleTypical two-bed in Balqis Residence 2
2.5M5M2009201420192024Typical sale price by year: 2009 AED 3,560,000; 2012 AED 2,750,000; 2013 AED 3,550,000; 2014 AED 3,535,905; 2016 AED 3,300,000; 2019 AED 1,700,000; 2020 AED 2,000,000; 2021 AED 1,850,000; 2022 AED 2,925,000; 2023 AED 3,142,500; 2024 AED 3,650,000; 2025 AED 4,375,000; 2026 AED 6,326,533Sold by developer, November 2012: AED 3,300,000 (AED 856 per sqft)Sold, June 2023: AED 4,413,462 (AED 1,145 per sqft)

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

Rents
Unit 102, each contractTypical two-bed in Balqis Residence 2
100K150K200K20192021202320252027Typical rent by year: 2019 AED 120,000; 2020 AED 110,000; 2021 AED 121,000; 2022 AED 162,500; 2023 AED 209,000; 2024 AED 220,000; 2025 AED 220,000; 2026 AED 202,500New contract, August 2020: AED 110,000 a yearNew contract, October 2022: AED 200,000 a year

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 2, and where 102 sits

All 83 2-beds →

102 last sold in June 2023 at AED 1,145 per sqft, 26% below what two-beds in Balqis Residence 2 were fetching at the time (AED 1,539). Over the last 12 months two-beds sold for AED 4,550,000 to 6,450,000, around AED 2,264 per sqft, and rent for AED 154,211 to 340,000 a year. 102's AED 200,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
26 Oct 20266,450,000
10 Sep 20266,222,800
24 Feb 20266,430,265
16 Feb 20264,900,000
6 2-bed sales in the last 12 months

Balqis Residence 2

Building

147 apartments, 2-bed to 5-bed over 11 floors in Palm Jumeirah, completed in 2019 by Balqis Residence. 7 sold in the last 12 months.

Typical price per sqft
AED 2,161
Typical sale
AED 5M
Typical rent
AED 231K /yr
Typical yield
4.9%
Balqis Residence 2, Palm Jumeirah: prices, sales and rents →

Other units on the 1st floor

All 147 units in Balqis Residence 2
Value
1012-bedAED 4.3M · Apr 2014
1033-bedAED 4.72M · Nov 2022
1043-bedAED 2.75M · May 2021
1052-bedAED 2.8M · Jan 2024
1062-bedAED 6.22M · Sep 2026

102, Balqis Residence 2 in numbers

  • Sold twice: first on 4 November 2012 for AED 3,300,000, last on 15 June 2023 for AED 4,413,462 (AED 1,145 per sqft).
  • Rented since August 2020 on 2 Ejari contracts, from AED 110,000 to AED 200,000 a year.
  • At AED 200,000 a year the gross yield on the 2023 price is 4.5%, before a service charge of about AED 68,600 a year (AED 17.81 per sqft).
  • Two-beds in Balqis Residence 2 sold for AED 4,550,000–6,450,000 in the 12 months to November 2026; the building's median across all types is AED 2,161 per sqft.

Source: Dubai Land Department. Updated 15 June 2023.

Questions about 102, Balqis Residence 2

What did unit 102 last sell for?

AED 4,413,462 on 15 June 2023: AED 1,145 per sqft for 3,853 sqft. The unit has 2 registered sales; the first was AED 3,300,000 in November 2012.

What is the rent for unit 102?

AED 200,000 a year on the contract signed on 7 October 2022. The previous contract, from August 2020, was AED 110,000.

How big is unit 102?

3,853 sqft (358.0 sqm): a two-bedroom apartment on the 1st floor of a 11-storey tower completed in 2019.

What is unit 102 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 2 sold for AED 4,550,000 to 6,450,000 in the last 12 months, around AED 2,264 per sqft.

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Mortgage on 102, Balqis Residence 2

Starts from the last sale price (AED 4.41M, 15 June 2023). Switch to today's estimate once you have unlocked it.
Price
AED 4,413,462
Deposit, UAE resident (20%)
AED 882,692
Deposit, non-resident (40%)
AED 1,765,385
Monthly over 25 years at 3.7%
AED 18,057

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