Valuation check: 85 m² one-bed apartment in Dubai at AED 3,909,000

T

tradeTheChart

Landlord
Established
Only one of my four comparables is a completed transaction; the other three are still for sale. That leaves me with a useful anchor but not enough evidence to treat the asking prices as achieved values.

The Dubai apartment is a one-bedroom of about 85 m², offered at AED 3,909,000. I would currently grade it as average condition: the light and location are attractive, but the finishes are older and insurance may increase the ownership cost. My instinct is to compare it with the completed sale, then estimate the actual cost of bringing it to the same standard rather than deducting an arbitrary condition percentage.

The missing fact most likely to alter the calculation may be the area schedule. I still have to confirm whether 85 m² includes a balcony or other outdoor space and whether all four properties use the same measurement basis. I also need the service-charge figure and the exact building and micro-location. Which document normally gives the internal and outdoor areas separately so I can align the comparisons?
 
I would anchor the analysis to the completed sale and use the three listings only as context, since asking prices do not show where buyers will transact. Compare price per square metre only after confirming that floor-area definitions and layouts are equivalent. For condition, estimate the cost of reaching the comparable’s standard rather than applying an unsupported percentage. The exact building and micro-location would change my view most.
 
Before adjusting anything, does the stated 85 m² include a balcony or other outdoor space, and is that measured consistently across all four comparables? I’d also want to know whether parking is included, the service charges, and the tenure or remaining lease length if it is leasehold. Those differences can make apparently similar one-beds poor comparisons.
 
I partly disagree with using renovation cost alone for condition. Dated finishes may create extra buyer resistance beyond the works themselves, while good light may support demand without being easy to price separately. With only one completed comparable, a precise adjustment range would give false confidence. I’d prepare low, central and high scenarios, separate parking and outdoor-space value, account for service charges, and clarify what the possible insurance expense actually covers before meeting the appraiser.
 
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