Mirdif: 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 2400
Market rate
Service Charge
AED 6
Per sqft annually
DEWA (Water + Elec.)
AED 220
Monthly average
Cooling (if applicable)
AED 150
Monthly average
Established residential area with villa communities. Low service charges. Good schools. Increasing infrastructure investment.
5-Year Cost Breakdown (2BR Apartment, 1,500 sqft)
Property Purchase PriceAED 3,600,000
Down Payment (20%)AED 720,000
Loan Amount (80% LTV)AED 2,880,000
DLD Fees (~4%)AED 144,000
5-Year Mortgage PaymentsAED 1,093,218
Service Charges (5 years)AED 45,000
DEWA + Cooling (5 years)AED 22,200
Insurance (5 years)AED 14,000
TOTAL 5-YEAR COSTAED 2,128,418
Includes down payment, DLD, mortgage interest, service charges, utilities and insurance
Annual Cost Breakdown
| Cost Category | Monthly | Annual | % of Total |
|---|---|---|---|
| Mortgage Payment | AED 18,220 | AED 218,644 | 51.4% |
| Service Charges | AED 750 | AED 9,000 | 2.1% |
| DEWA + Cooling | AED 370 | AED 4,440 | 1.0% |
| Insurance | AED 233 | AED 2,800 | 0.7% |
| Monthly Total (excluding one-time costs) | AED 19,574 | ||
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