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3-bed · 1,427 sqftMayfair Residency, Business Bay · 16th floor · completed 2011

1602, Mayfair Residency

Sold prices and rental history: sold 4 times, last in June 2020, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 28 June 2020
Last soldAED 1.02M28 June 2020
Current rentAED 65K /yr1 July 2019
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1602, Mayfair Residency

What is 1602 worth today?

Last sold for AED 1,020,000 in 2020

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28 Jun 2020SoldReady
AED 1,020,000AED 714 per sqft
1 Jul 2019RentedNew contract
AED 65,000/yr12 months · AED 46 per sqft
1 Sep 2017RentedNew contract
AED 108,000/yr12 months · AED 76 per sqft
1 Jul 2016RentedNew contract
AED 118,000/yr12 months · AED 83 per sqft
22 Dec 2015SoldReady
AED 600,000AED 840 per sqft
1 Jul 2015RentedNew contract
AED 120,000/yr12 months · AED 84 per sqft
17 Apr 2014RentedNew contract
AED 130,000/yr12 months · AED 91 per sqft
13 Jan 2014SoldReady
AED 2,040,372AED 1,429 per sqft

Source: Dubai Land Department. Updated 28 June 2020.

Key facts

Type
3-bed apartment
Size
1,427 sqft
Floor
16th of 18
Parking
B2-25
Developer
Deyaar
Completed
2011
Service charge
AED 23,100 /yr
Last sold
AED 1.02M · June 2020
Building
Mayfair Residency

About 1602, Mayfair Residency

1602 is a three-bedroom apartment of 1,427 sqft on the 16th floor of Mayfair Residency, a 18-storey tower in Business Bay completed in 2011 by Deyaar. It last sold on 28 June 2020 for AED 1,020,000, or AED 714 per sqft.

It has been rented continuously since 2014 on 5 Ejari contracts. The current contract, signed on 1 July 2019, is AED 65,000 a year: a gross yield of 6.4% on the 2020 price, before the service charge of about AED 23,100 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, each saleTypical three-bed in Mayfair Residency
1M2M2009201220152018Typical sale price by year: 2009 AED 1,839,182; 2010 AED 1,000,000; 2011 AED 1,679,972; 2012 AED 1,234,555; 2013 AED 1,746,595; 2014 AED 1,987,235Sold by developer, June 2009: AED 1,990,371 (AED 1,394 per sqft)Sold, January 2014: AED 2,040,372 (AED 1,429 per sqft)Sold, December 2015: AED 600,000 (AED 840 per sqft)Sold, June 2020: AED 1,020,000 (AED 714 per sqft)

1602 has sold 4 times; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1602, each contractTypical three-bed in Mayfair Residency
100K2013201720212025Typical rent by year: 2013 AED 80,000; 2014 AED 112,500; 2015 AED 115,000; 2016 AED 109,500; 2017 AED 109,725; 2018 AED 90,500; 2019 AED 85,000; 2020 AED 68,000; 2021 AED 70,000; 2022 AED 75,000; 2023 AED 101,500; 2024 AED 100,000; 2025 AED 130,000; 2026 AED 105,000New contract, April 2014: AED 130,000 a yearNew contract, July 2015: AED 120,000 a yearNew contract, July 2016: AED 118,000 a yearNew contract, September 2017: AED 108,000 a yearNew contract, July 2019: AED 65,000 a year

Annual rent on each registered contract; the dashed line is the three-bed median of each year in the building.

3-beds in Mayfair Residency, and where 1602 sits

All 15 3-beds →

Over the last 12 months three-beds sold for AED 2,000,000 to 2,200,000, around AED 1,615 per sqft, and rent for AED 87,000 to 115,000 a year. 1602's AED 65,000 is at the bottom of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
14 May 20262,200,000
26 Mar 20262,000,000
22 Jul 20251,700,000
12 Mar 20252,100,000
2 3-bed sales in the last 12 months

Mayfair Residency

Building

212 apartments, 1-bed to 3-bed over 18 floors in Business Bay, completed in 2011 by Deyaar. 19 sold in the last 12 months.

Typical price per sqft
AED 1,452 Down 0.9%
Typical sale
AED 1M
Typical rent
AED 68K /yr
Typical yield
7.2%
Mayfair Residency, Business Bay: prices, sales and rents →

Other units on the 16th floor

All 212 units in Mayfair Residency
Value
16013-bedAED 2.1M · Mar 2025
16033-bedAED 2M · May 2014
16043-bedAED 2M · Jun 2014
16053-bedAED 600K · Dec 2015

1602, Mayfair Residency in numbers

  • Sold 4 times: first on 11 June 2009 for AED 1,990,371, last on 28 June 2020 for AED 1,020,000 (AED 714 per sqft).
  • Rented since April 2014 on 5 Ejari contracts, from AED 130,000 to AED 65,000 a year.
  • At AED 65,000 a year the gross yield on the 2020 price is 6.4%, before a service charge of about AED 23,100 a year (AED 16.20 per sqft).
  • Three-beds in Mayfair Residency sold for AED 2,000,000–2,200,000 in the 12 months to November 2026; the building's median across all types is AED 1,452 per sqft.

Source: Dubai Land Department. Updated 28 June 2020.

Questions about 1602, Mayfair Residency

What did unit 1602 last sell for?

AED 1,020,000 on 28 June 2020: AED 714 per sqft for 1,427 sqft. The unit has 4 registered sales; the first was AED 1,990,371 in June 2009.

What is the rent for unit 1602?

AED 65,000 a year on the contract signed on 1 July 2019. The previous contract, from September 2017, was AED 108,000; the unit has been rented since April 2014.

How big is unit 1602?

1,427 sqft (132.6 sqm): a three-bedroom apartment on the 16th floor of a 18-storey tower completed in 2011.

What is unit 1602 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Mayfair Residency sold for AED 2,000,000 to 2,200,000 in the last 12 months, around AED 1,615 per sqft.

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Mortgage on 1602, Mayfair Residency

Starts from the last sale price (AED 1.02M, 28 June 2020). Switch to today's estimate once you have unlocked it.
Price
AED 1,020,000
Deposit, UAE resident (20%)
AED 204,000
Deposit, non-resident (40%)
AED 408,000
Monthly over 25 years at 3.7%
AED 4,173

Plus the 4% Dubai Land Department transfer fee and about AED 5,000 of registration and trustee costs. Full mortgage calculator →