ELO 3
1 BR · Apartment
About the building
A residential building in Damac Hills 2. Developer — Damac Properties.
Where it is
The pin is placed by project — accurate to the development, not the door.
Damac Hills 2
Formerly Akoya Oxygen: a very large, very affordable community a long way out, with amenity that surprises people.
- highest villa yields
- lowest entry price for a house
- remote workers
What to check: Drive the route to wherever you or your tenant would actually work, at the time you would drive it. The distance is the whole trade here, and it is the single fact that determines whether this community works for you.
Full district guide →Questions and answers about lot NP18-574904
How much is this 1-bedroom apartment in ELO 3?
Lot NP18-574904 is priced at AED 720 000, about $196 000. The size is 528 sq ft (49 m²), which works out at AED 1 364 per sq ft.
Is there a discount on this lot?
There is no recorded price cut: the lot is in the database at the seller's asking price. The comparisons below show how that price sits against the market.
How does this price compare with other lots in ELO 3?
The database holds 3 lots in ELO 3 right now, from AED 720 000 to AED 1 150 000. 2 of them share this type and bedroom count: this lot is the cheapest. At AED 1 364 per sq ft this lot is 5% below the median for the other lots in the project (AED 1 437).
Is this expensive or cheap for Damac Hills 2?
The database holds 25 lots in Damac Hills 2, starting from AED 660 000. The area median is AED 1 009 per sq ft; this lot, at AED 1 364, is 35% above it. 4 lots in the area have a reduced price. The median is taken from listings in our database, not from registered sales.
Damac Hills 2 area guide →Can this lot be bought with a mortgage, and what would the payment be?
UAE banks lend on ready homes, and the listing does not confirm that this property is ready. If it has been handed over, the numbers are: a resident puts down from 20%, here AED 144 000; a loan of AED 576 000 over 25 years at 3.75–4.99% a year comes to roughly AED 3 000–3 400 a month. A non-resident puts down from 40% (AED 288 000) and pays about AED 2 200–2 500 a month. The bank approves the rate and the amount.
Run your own numbers in the mortgage calculator →What costs come on top of the price?
The main one is the Dubai Land Department registration fee: 4% of the price, AED 28 800 for this lot. With a mortgage the bank charges for processing and valuation, and the mortgage is registered for a separate fee. I will send the full calculation for this lot on request.
Does buying this lot qualify for a UAE residence visa?
The lot's price is AED 30 000 below the classic threshold for the two-year residence visa (AED 750 000) and AED 1 280 000 short of the Golden Visa, granted from AED 2 000 000. A visa consultant can go through the grounds that remain at this price.
Golden Visa and residence visas →How do I view the property and get the exact address?
Lots in the database are anonymised: the unit number, exact address and owner's details are not published. Send the lot code NP18-574904 on WhatsApp or Telegram — I will confirm the lot is still for sale, send the full details and arrange a viewing.
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