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1-bed · 1,290 sqftGolden Mile 07, Palm Jumeirah · 4th floor · completed 2009

7406, Golden Mile 07

Sold prices and rental history: sold twice, last in January 2022, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 7406 · DLD and Ejari recordsUpdated 13 January 2022
Last soldAED 1.6M13 January 2022
Current rentAED 74K /yr26 April 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 7406, Golden Mile 07

What is 7406 worth today?

Last sold for AED 1,600,000 in 2022

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13 Jan 2022SoldReady
AED 1,600,000AED 1,240 per sqft
26 Apr 2021RentedRenewal
AED 74,429/yr14 months · AED 58 per sqft
26 Apr 2020RentedNew contract
AED 74,000/yr12 months · AED 58 per sqft
14 Jan 2019RentedNew contract
AED 85,000/yr12 months · AED 66 per sqft
10 Jul 2017RentedNew contract
AED 108,000/yr12 months · AED 84 per sqft
19 Aug 2009Sold by developerOff-plan
AED 1,178,100AED 913 per sqft

Source: Dubai Land Department. Updated 13 January 2022.

Key facts

Type
1-bed apartment
Size
1,290 sqft
Floor
4th of 7
Parking
Building 7- B3-33
Developer
Souq Residences
Completed
2009
Service charge
AED 20,000 /yr
Last sold
AED 1.6M · January 2022
Building
Golden Mile 07

About 7406, Golden Mile 07

7406 is a one-bedroom apartment of 1,290 sqft on the 4th floor of Golden Mile 07, a 7-storey tower in Palm Jumeirah completed in 2009 by Souq Residences. It last sold on 13 January 2022 for AED 1,600,000, or AED 1,240 per sqft, 56% above the AED 793 one-beds in the building were fetching at the time.

It has been rented continuously since 2017 on 4 Ejari contracts. The current contract, renewed on 26 April 2021, is AED 74,429 a year: a gross yield of 4.7% on the 2022 price, before the service charge of about AED 20,000 a year.

Sales and rents for 7406 over time

Sales
Unit 7406, each saleTypical one-bed in Golden Mile 07
1M1.5M2009201320172021Typical sale price by year: 2009 AED 1,390,000; 2011 AED 1,100,000; 2012 AED 827,500; 2013 AED 1,500,000; 2022 AED 1,530,000Sold by developer, August 2009: AED 1,178,100 (AED 913 per sqft)Sold, January 2022: AED 1,600,000 (AED 1,240 per sqft)

7406 has sold twice; the dashed line is the one-bed median of each year in the building.

Rents
Unit 7406, each contractTypical one-bed in Golden Mile 07
100K150K2016201920222025Typical rent by year: 2016 AED 120,000; 2017 AED 120,000; 2018 AED 100,000; 2019 AED 90,000; 2020 AED 74,500; 2021 AED 74,000; 2022 AED 85,000; 2023 AED 101,500; 2024 AED 130,000; 2025 AED 140,000; 2026 AED 120,000New contract, July 2017: AED 108,000 a yearNew contract, January 2019: AED 85,000 a yearNew contract, April 2020: AED 74,000 a yearRenewal, April 2021: AED 74,429 a year

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

1-beds in Golden Mile 07, and where 7406 sits

All 18 1-beds →

7406 last sold in January 2022 at AED 1,240 per sqft, 56% above what one-beds in Golden Mile 07 were fetching at the time (AED 793). 7406's AED 74,429 is at the bottom of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
27 May 20242,400,000
11 Dec 20232,170,000
31 May 20231,625,000
29 Aug 20221,530,000
0 1-bed sales in the last 12 months

Golden Mile 07

Building

79 apartments, 1-bed to 4-bed over 7 floors in Palm Jumeirah, completed in 2009 by Souq Residences. 1 sold in the last 12 months.

Typical price per sqft
AED 1,762
Typical sale
AED 17.5M
Typical rent
AED 170K /yr
Typical yield
5.2%
Golden Mile 07, Palm Jumeirah: prices, sales and rents →

Other units on the 4th floor

All 79 units in Golden Mile 07
Value
74011-bedAED 1.78M · Mar 2015
74022-bedAED 1.8M · May 2009
74032-bedAED 1.84M · Feb 2022
74041-bedAED 1.1M · Dec 2011
74052-bedAED 912K · Mar 2017
74072-bedAED 1.85M · Jul 2018
74083-bedAED 2.38M · Nov 2020
1–7 of 11

7406, Golden Mile 07 in numbers

  • Sold twice: first on 19 August 2009 for AED 1,178,100, last on 13 January 2022 for AED 1,600,000 (AED 1,240 per sqft).
  • Rented since July 2017 on 4 Ejari contracts, from AED 108,000 to AED 74,429 a year.
  • At AED 74,429 a year the gross yield on the 2022 price is 4.7%, before a service charge of about AED 20,000 a year (AED 15.49 per sqft).

Source: Dubai Land Department. Updated 13 January 2022.

Questions about 7406, Golden Mile 07

What did unit 7406 last sell for?

AED 1,600,000 on 13 January 2022: AED 1,240 per sqft for 1,290 sqft. The unit has 2 registered sales; the first was AED 1,178,100 in August 2009.

What is the rent for unit 7406?

AED 74,429 a year on the contract renewed on 26 April 2021. The previous contract, from April 2020, was AED 74,000; the unit has been rented since July 2017.

How big is unit 7406?

1,290 sqft (119.8 sqm): a one-bedroom apartment on the 4th floor of a 7-storey tower completed in 2009.

What is unit 7406 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 7406, Golden Mile 07

Starts from the last sale price (AED 1.6M, 13 January 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,600,000
Deposit, UAE resident (20%)
AED 320,000
Deposit, non-resident (40%)
AED 640,000
Monthly over 25 years at 3.7%
AED 6,546

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