Motor City: 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 2500
Market rate
Service Charge
AED 7
Per sqft annually
DEWA (Water + Elec.)
AED 240
Monthly average
Cooling (if applicable)
AED 180
Monthly average
Automotive-themed gated community. Lower prices; limited rental appeal. Best for car enthusiasts.
5-Year Cost Breakdown (2BR Apartment, 1,500 sqft)
Property Purchase PriceAED 3,750,000
Down Payment (20%)AED 750,000
Loan Amount (80% LTV)AED 3,000,000
DLD Fees (~4%)AED 150,000
5-Year Mortgage PaymentsAED 1,138,769
Service Charges (5 years)AED 52,500
DEWA + Cooling (5 years)AED 25,200
Insurance (5 years)AED 14,500
TOTAL 5-YEAR COSTAED 2,224,719
Includes down payment, DLD, mortgage interest, service charges, utilities and insurance
Annual Cost Breakdown
| Cost Category | Monthly | Annual | % of Total |
|---|---|---|---|
| Mortgage Payment | AED 18,979 | AED 227,754 | 51.2% |
| Service Charges | AED 875 | AED 10,500 | 2.4% |
| DEWA + Cooling | AED 420 | AED 5,040 | 1.1% |
| Insurance | AED 242 | AED 2,900 | 0.7% |
| Monthly Total (excluding one-time costs) | AED 20,516 | ||
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