DAMAC Hills: 5-Year Cost of Ownership
Complete cost breakdown for a typical 2-bedroom apartment with 80% LTV mortgage at 4.5% fixed rate.
Community Overview
Avg Price/Sqft
AED 3400
Market rate
Service Charge
AED 10
Per sqft annually
DEWA (Water + Elec.)
AED 300
Monthly average
Cooling (if applicable)
AED 220
Monthly average
DAMAC's signature master-planned community with luxury villas and apartments. Strong marketing appeal.
5-Year Cost Breakdown (2BR Apartment, 1,500 sqft)
Property Purchase PriceAED 5,100,000
Down Payment (20%)AED 1,020,000
Loan Amount (80% LTV)AED 4,080,000
DLD Fees (~4%)AED 204,000
5-Year Mortgage PaymentsAED 1,548,726
Service Charges (5 years)AED 75,000
DEWA + Cooling (5 years)AED 31,200
Insurance (5 years)AED 23,500
TOTAL 5-YEAR COSTAED 3,029,926
Includes down payment, DLD, mortgage interest, service charges, utilities and insurance
Annual Cost Breakdown
| Cost Category | Monthly | Annual | % of Total |
|---|---|---|---|
| Mortgage Payment | AED 25,812 | AED 309,745 | 51.1% |
| Service Charges | AED 1,250 | AED 15,000 | 2.5% |
| DEWA + Cooling | AED 520 | AED 6,240 | 1.0% |
| Insurance | AED 392 | AED 4,700 | 0.8% |
| Monthly Total (excluding one-time costs) | AED 27,974 | ||
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