Home
Dubai prices
About
Research
2-bed · 2,005 sqftBalqis Residence 2, Palm Jumeirah · 7th floor · completed 2019

703, Balqis Residence 2

Sold prices and rental history: sold 3 times, last in June 2022, and rented once, from September 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 703 · DLD and Ejari recordsUpdated 27 June 2022
Last soldAED 3.73M27 June 2022
Current rentAED 140K /yr9 September 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
Follow 703

Property timeline for 703, Balqis Residence 2

What is 703 worth today?

Last sold for AED 3,730,000 in 2022

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

27 Jun 2022SoldReady
AED 3,730,000AED 1,860 per sqft
15 Nov 2021SoldReady
AED 2,750,000AED 1,371 per sqft
9 Sep 2021RentedNew contract
AED 140,000/yr10 months · AED 70 per sqft
16 Jan 2012Sold by developerOff-plan
AED 2,500,000AED 1,247 per sqft

Source: Dubai Land Department. Updated 27 June 2022.

Key facts

Type
2-bed apartment
Size
2,005 sqft
Floor
7th of 11
Parking
B-278
Developer
Balqis Residence
Completed
2019
Service charge
AED 35,700 /yr
Last sold
AED 3.73M · June 2022
Building
Balqis Residence 2

About 703, Balqis Residence 2

703 is a two-bedroom apartment of 2,005 sqft on the 7th floor of Balqis Residence 2, a 11-storey tower in Palm Jumeirah completed in 2019 by Balqis Residence. It last sold on 27 June 2022 for AED 3,730,000, or AED 1,860 per sqft, 45% above the AED 1,284 two-beds in the building were fetching at the time.

One Ejari contract is registered, from 9 September 2021. The current contract, signed on 9 September 2021, is AED 140,000 a year: a gross yield of 3.8% on the 2022 price, before the service charge of about AED 35,700 a year.

Sales and rents for 703 over time

Sales
Unit 703, 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, January 2012: AED 2,500,000 (AED 1,247 per sqft)Sold, November 2021: AED 2,750,000 (AED 1,371 per sqft)Sold, June 2022: AED 3,730,000 (AED 1,860 per sqft)

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

Rents
Unit 703, 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, September 2021: AED 140,000 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 703 sits

All 83 2-beds →

703 last sold in June 2022 at AED 1,860 per sqft, 45% above what two-beds in Balqis Residence 2 were fetching at the time (AED 1,284). 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. 703's AED 140,000 is at the bottom 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 7th floor

All 147 units in Balqis Residence 2
Value
7013-bedAED 4.5M · May 2011
7022-bedAED 3.09M · Feb 2013
7043-bedAED 5M · Aug 2026
7053-bedAED 4.5M · Apr 2023
7062-bedAED 3.66M · Aug 2009
7072-bedAED 3.65M · May 2024
7082-bedAED 1.74M · Apr 2021
1–7 of 15

703, Balqis Residence 2 in numbers

  • Sold 3 times: first on 16 January 2012 for AED 2,500,000, last on 27 June 2022 for AED 3,730,000 (AED 1,860 per sqft).
  • Rented since September 2021 on one Ejari contract, at AED 140,000 a year.
  • At AED 140,000 a year the gross yield on the 2022 price is 3.8%, before a service charge of about AED 35,700 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 27 June 2022.

Questions about 703, Balqis Residence 2

What did unit 703 last sell for?

AED 3,730,000 on 27 June 2022: AED 1,860 per sqft for 2,005 sqft. The unit has 3 registered sales; the first was AED 2,500,000 in January 2012.

What is the rent for unit 703?

AED 140,000 a year on the contract signed on 9 September 2021.

How big is unit 703?

2,005 sqft (186.3 sqm): a two-bedroom apartment on the 7th floor of a 11-storey tower completed in 2019.

What is unit 703 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.

Selling 703? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 703, Balqis Residence 2

Starts from the last sale price (AED 3.73M, 27 June 2022). Switch to today's estimate once you have unlocked it.
Price
AED 3,730,000
Deposit, UAE resident (20%)
AED 746,000
Deposit, non-resident (40%)
AED 1,492,000
Monthly over 25 years at 3.7%
AED 15,261

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