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2-bed · 1,887 sqftGolden Mile 05, Palm Jumeirah · 5th floor · completed 2009

5507, Golden Mile 05

Sold prices and rental history: sold 3 times, last in February 2020, and rented since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 5507 · DLD and Ejari recordsUpdated 16 February 2020
Last soldAED 1.3M16 February 2020
Current rentAED 145K /yr5 September 2018
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 5507, Golden Mile 05

What is 5507 worth today?

Last sold for AED 1,300,000 in 2020

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16 Feb 2020SoldReady
AED 1,300,000AED 688 per sqft
5 Sep 2018RentedRenewal
AED 145,000/yr12 months · AED 77 per sqft
5 Sep 2017RentedRenewal
AED 145,000/yr12 months · AED 77 per sqft
5 Sep 2016RentedNew contract
AED 145,000/yr12 months · AED 77 per sqft
18 Aug 2016SoldReady
AED 775,000AED 410 per sqft
20 May 2012Sold by developerOff-plan
AED 775,000AED 410 per sqft

Source: Dubai Land Department. Updated 16 February 2020.

Key facts

Type
2-bed apartment
Size
1,887 sqft
Floor
5th of 7
Parking
Building 5-B3-76
Developer
Souq Residences
Completed
2009
Service charge
AED 29,200 /yr
Last sold
AED 1.3M · February 2020
Building
Golden Mile 05

About 5507, Golden Mile 05

5507 is a two-bedroom apartment of 1,887 sqft on the 5th floor of Golden Mile 05, a 7-storey tower in Palm Jumeirah completed in 2009 by Souq Residences. It last sold on 16 February 2020 for AED 1,300,000, or AED 688 per sqft.

It has been rented since 2016 on 3 Ejari contracts. The current contract, renewed on 5 September 2018, is AED 145,000 a year: a gross yield of 11.2% on the 2020 price, before the service charge of about AED 29,200 a year.

Sales and rents for 5507 over time

Sales
Unit 5507, each saleTypical two-bed in Golden Mile 05
2M4M2004201020162022Typical sale price by year: 2004 AED 1,570,000; 2009 AED 1,540,000; 2010 AED 1,550,000; 2012 AED 875,000; 2013 AED 1,592,500; 2014 AED 2,850,000; 2016 AED 875,000; 2020 AED 1,305,000; 2022 AED 2,150,000; 2023 AED 2,450,000; 2024 AED 2,900,000; 2025 AED 3,894,444Sold by developer, May 2012: AED 775,000 (AED 410 per sqft)Sold, August 2016: AED 775,000 (AED 410 per sqft)Sold, February 2020: AED 1,300,000 (AED 688 per sqft)

5507 has sold 3 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 5507, each contractTypical two-bed in Golden Mile 05
100K150K200K2014201820222026Typical rent by year: 2014 AED 165,000; 2015 AED 158,750; 2016 AED 160,000; 2017 AED 145,000; 2018 AED 130,000; 2019 AED 125,000; 2020 AED 101,400; 2021 AED 105,000; 2022 AED 115,500; 2023 AED 137,557; 2024 AED 180,000; 2025 AED 190,000; 2026 AED 190,000New contract, September 2016: AED 145,000 a yearRenewal, September 2017: AED 145,000 a yearRenewal, September 2018: AED 145,000 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 Golden Mile 05, and where 5507 sits

All 42 2-beds →

Over the last 12 months two-beds sold for AED 3,700,000 to 4,000,000, around AED 2,091 per sqft, and rent for AED 149,598 to 245,000 a year. 5507's AED 145,000 is at the bottom of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
19 Jan 20263,700,000
15 Dec 20254,000,000
7 Nov 20253,800,000
9 Jul 20253,800,000
2 2-bed sales in the last 12 months

Golden Mile 05

Building

83 apartments, 1-bed to 3-bed over 7 floors in Palm Jumeirah, completed in 2009 by Souq Residences. 5 sold in the last 12 months.

Typical price per sqft
AED 1,960
Typical sale
AED 5.83M
Typical rent
AED 187K /yr
Typical yield
5.2%
Golden Mile 05, Palm Jumeirah: prices, sales and rents →

Other units on the 5th floor

All 83 units in Golden Mile 05
Value
55011-bedAED 1.68M · Mar 2017
55022-bedAED 1.5M · Nov 2009
55032-bedAED 1.55M · Oct 2009
55041-bedAED 725K · Jun 2016
55052-bedAED 1.55M · Dec 2012
55061-bedAED 1.46M · Jan 2022
55083-bedAED 4.63M · Oct 2014
1–7 of 11

5507, Golden Mile 05 in numbers

  • Sold 3 times: first on 20 May 2012 for AED 775,000, last on 16 February 2020 for AED 1,300,000 (AED 688 per sqft).
  • Rented since September 2016 on 3 Ejari contracts, at AED 145,000 a year.
  • At AED 145,000 a year the gross yield on the 2020 price is 11.2%, before a service charge of about AED 29,200 a year (AED 15.49 per sqft).
  • Two-beds in Golden Mile 05 sold for AED 3,700,000–4,000,000 in the 12 months to November 2026; the building's median across all types is AED 1,960 per sqft.

Source: Dubai Land Department. Updated 16 February 2020.

Questions about 5507, Golden Mile 05

What did unit 5507 last sell for?

AED 1,300,000 on 16 February 2020: AED 688 per sqft for 1,887 sqft. The unit has 3 registered sales; the first was AED 775,000 in May 2012.

What is the rent for unit 5507?

AED 145,000 a year on the contract renewed on 5 September 2018. The previous contract, from September 2017, was AED 145,000; the unit has been rented since September 2016.

How big is unit 5507?

1,887 sqft (175.3 sqm): a two-bedroom apartment on the 5th floor of a 7-storey tower completed in 2009.

What is unit 5507 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Golden Mile 05 sold for AED 3,700,000 to 4,000,000 in the last 12 months, around AED 2,091 per sqft.

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Mortgage on 5507, Golden Mile 05

Starts from the last sale price (AED 1.3M, 16 February 2020). Switch to today's estimate once you have unlocked it.
Price
AED 1,300,000
Deposit, UAE resident (20%)
AED 260,000
Deposit, non-resident (40%)
AED 520,000
Monthly over 25 years at 3.7%
AED 5,319

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