501, Dream Palm Residence
Sold prices and rental history: sold twice, last in April 2022, 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 501, Dream Palm Residence
What is 501 worth today?
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Source: Dubai Land Department. Updated 28 April 2022.
Key facts
- Type
- 2-bed apartment
- Size
- 2,329 sqft
- Floor
- 5th of 7
- Parking
- B1-22
- Developer
- Al Fattan Properties
- Completed
- 2013
- Service charge
- AED 61,200 /yr
- Last sold
- AED 3.7M · April 2022
- Building
- Dream Palm Residence
About 501, Dream Palm Residence
501 is a two-bedroom apartment of 2,329 sqft on the 5th floor of Dream Palm Residence, a 7-storey tower in Palm Jumeirah completed in 2013 by Al Fattan Properties. It last sold on 28 April 2022 for AED 3,700,000, or AED 1,588 per sqft, 6% above the AED 1,497 two-beds in the building were fetching at the time.
It has been rented continuously since 2015 on 7 Ejari contracts. The current contract, renewed on 2 November 2021, is AED 210,000 a year: a gross yield of 5.7% on the 2022 price, before the service charge of about AED 61,200 a year.
Sales and rents for 501 over time
Annual rent on each registered contract; the dashed line is the two-bed median of each year in the building.
2-beds in Dream Palm Residence, and where 501 sits
All 9 2-beds →501 last sold in April 2022 at AED 1,588 per sqft, 6% above what two-beds in Dream Palm Residence were fetching at the time (AED 1,497).
| Recent 2-bed sales | Unit no. | Size | Price (AED) | Per sqft | Summary |
|---|---|---|---|---|---|
| 16 Dec 202216 December 2022 | 2,243 sqft | 4,300,000 | 1,917 | ||
| 19 Oct 202119 October 2021 | 2,217 sqft | 3,321,000 | 1,497 | ||
| 15 Sep 202115 September 2021 | 2,769 sqft | 3,075,000 | 1,110 | ||
| 26 Nov 202026 November 2020 | 2,331 sqft | 2,900,000 | 1,244 |
Dream Palm Residence
Building29 apartments, 2-bed to 5-bed over 7 floors in Palm Jumeirah, completed in 2013 by Al Fattan Properties. 1 sold in the last 12 months.
- Typical price per sqft
- AED 2,059
- Typical sale
- AED 11.25M
- Typical rent
- AED 395K /yr
- Typical yield
- 6.9%
501, Dream Palm Residence in numbers
- Sold twice: first on 24 June 2015 for AED 5,823,050, last on 28 April 2022 for AED 3,700,000 (AED 1,588 per sqft).
- Rented since October 2015 on 7 Ejari contracts, from AED 250,000 to AED 210,000 a year.
- At AED 210,000 a year the gross yield on the 2022 price is 5.7%, before a service charge of about AED 61,200 a year (AED 26.26 per sqft).
Source: Dubai Land Department. Updated 28 April 2022.
Questions about 501, Dream Palm Residence
What did unit 501 last sell for?
AED 3,700,000 on 28 April 2022: AED 1,588 per sqft for 2,329 sqft. The unit has 2 registered sales; the first was AED 5,823,050 in June 2015.
What is the rent for unit 501?
AED 210,000 a year on the contract renewed on 2 November 2021. The previous contract, from November 2020, was AED 200,000; the unit has been rented since October 2015.
How big is unit 501?
2,329 sqft (216.4 sqm): a two-bedroom apartment on the 5th floor of a 7-storey tower completed in 2013.
What is unit 501 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 501, Dream Palm Residence
Starts from the last sale price (AED 3.7M, 28 April 2022). Switch to today's estimate once you have unlocked it.- Price
- AED 3,700,000
- Deposit, UAE resident (20%)
- AED 740,000
- Deposit, non-resident (40%)
- AED 1,480,000
- Monthly over 25 years at 3.7%
- AED 15,138
Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →