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3-bed · 1,408 sqftSafi Apartments 1B, Town Square · 5th floor · completed 2018

515, Safi Apartments 1B

Sold prices and rental history: sold twice, last in April 2023, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 515 · DLD and Ejari recordsUpdated 27 April 2023
Last soldAED 1.15M27 April 2023
Current rentAED 70K /yr27 April 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 515, Safi Apartments 1B

What is 515 worth today?

Last sold for AED 1,150,000 in 2023

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27 Apr 2023SoldReady
AED 1,150,000AED 816 per sqft
27 Apr 2023RentedNew contract
AED 70,000/yr4 months · AED 50 per sqft
6 Sep 2022RentedRenewal
AED 70,000/yr12 months · AED 50 per sqft
6 Sep 2021RentedNew contract
AED 70,000/yr12 months · AED 50 per sqft
6 Jul 2021RentedNew contract
AED 68,000/yr12 months · AED 48 per sqft
17 Jul 2017Sold by developerOff-plan
AED 1,304,888AED 926 per sqft

Source: Dubai Land Department. Updated 27 April 2023.

Key facts

Type
3-bed apartment
Size
1,408 sqft
Floor
5th of 7
Parking
P-446,P-281
Developer
Nshmi Development
Completed
2018
Last sold
AED 1.15M · April 2023
Building
Safi Apartments 1B

About 515, Safi Apartments 1B

515 is a three-bedroom apartment of 1,408 sqft on the 5th floor of Safi Apartments 1B, a 7-storey tower in Town Square completed in 2018 by Nshmi Development. It last sold on 27 April 2023 for AED 1,150,000, or AED 816 per sqft, in line with the AED 810 three-beds in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, signed on 27 April 2023, is AED 70,000 a year: a gross yield of 6.1% on the 2023 price.

Sales and rents for 515 over time

Sales
Unit 515, each saleTypical three-bed in Safi Apartments 1B
1M1.5M2015201820212024Typical sale price by year: 2015 AED 1,164,888; 2017 AED 1,341,888; 2018 AED 1,399,888; 2020 AED 1,025,888; 2021 AED 937,500; 2023 AED 1,150,000; 2024 AED 1,360,000; 2025 AED 1,780,000Sold by developer, July 2017: AED 1,304,888 (AED 926 per sqft)Sold, April 2023: AED 1,150,000 (AED 816 per sqft)

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

Rents
Unit 515, each contractTypical three-bed in Safi Apartments 1B
100K20192021202320252027Typical rent by year: 2019 AED 75,000; 2020 AED 64,500; 2021 AED 68,000; 2022 AED 74,775; 2023 AED 84,500; 2024 AED 108,000; 2025 AED 120,000; 2026 AED 125,000New contract, July 2021: AED 68,000 a yearNew contract, September 2021: AED 70,000 a yearRenewal, September 2022: AED 70,000 a yearNew contract, April 2023: AED 70,000 a year

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

3-beds in Safi Apartments 1B, and where 515 sits

All 37 3-beds →

515 last sold in April 2023 at AED 816 per sqft, in line with what three-beds in Safi Apartments 1B were fetching at the time (AED 810). Over the last 12 months three-beds sold for AED 1,660,000 to 1,800,000, around AED 1,253 per sqft, and rent for AED 114,000 to 220,000 a year. 515's AED 70,000 is at the bottom of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
6 May 20261,800,000
4 Feb 20261,660,000
11 Jul 20251,780,000
13 May 20251,590,000
2 3-bed sales in the last 12 months

Safi Apartments 1B

Building

181 apartments, studios to 3-bed over 7 floors in Town Square, completed in 2018 by Nshmi Development. 14 sold in the last 12 months.

Typical price per sqft
AED 1,276 Up 8.0%
Typical sale
AED 1.2M
Typical rent
AED 64K /yr
Typical yield
7.1%
Safi Apartments 1B, Town Square: prices, sales and rents →

Other units on the 5th floor

All 181 units in Safi Apartments 1B
Value
5012-bedAED 878K · Jul 2016
5023-bedAED 1.8M · May 2026
5031-bedAED 579K · May 2016
5041-bedAED 561K · May 2016
5051-bedAED 610K · May 2016
506StudioAED 427K · Jun 2016
5071-bedAED 559K · May 2016
1–7 of 26

515, Safi Apartments 1B in numbers

  • Sold twice: first on 17 July 2017 for AED 1,304,888, last on 27 April 2023 for AED 1,150,000 (AED 816 per sqft).
  • Rented since July 2021 on 4 Ejari contracts, from AED 68,000 to AED 70,000 a year.
  • At AED 70,000 a year the gross yield on the 2023 price is 6.1%.
  • Three-beds in Safi Apartments 1B sold for AED 1,660,000–1,800,000 in the 12 months to November 2026; the building's median across all types is AED 1,276 per sqft.

Source: Dubai Land Department. Updated 27 April 2023.

Questions about 515, Safi Apartments 1B

What did unit 515 last sell for?

AED 1,150,000 on 27 April 2023: AED 816 per sqft for 1,408 sqft. The unit has 2 registered sales; the first was AED 1,304,888 in July 2017.

What is the rent for unit 515?

AED 70,000 a year on the contract signed on 27 April 2023. The previous contract, from September 2022, was AED 70,000; the unit has been rented since July 2021.

How big is unit 515?

1,408 sqft (130.8 sqm): a three-bedroom apartment on the 5th floor of a 7-storey tower completed in 2018.

What is unit 515 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Safi Apartments 1B sold for AED 1,660,000 to 1,800,000 in the last 12 months, around AED 1,253 per sqft.

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Mortgage on 515, Safi Apartments 1B

Starts from the last sale price (AED 1.15M, 27 April 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,150,000
Deposit, UAE resident (20%)
AED 230,000
Deposit, non-resident (40%)
AED 460,000
Monthly over 25 years at 3.7%
AED 4,705

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