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2-bed · 1,629 sqftThe Residences 1 (W3), Downtown Dubai · 7th floor · completed 2007

703, The Residences 1 (W3)

Sold prices and rental history: sold 3 times, last in March 2021, and rented continuously since 2017. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 703 · DLD and Ejari recordsUpdated 7 March 2021
Last soldAED 3.4M7 March 2021
Current rentAED 160K /yr15 July 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 703, The Residences 1 (W3)

What is 703 worth today?

Last sold for AED 3,400,000 in 2021

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7 Mar 2021SoldReady
AED 3,400,000AED 2,087 per sqft
15 Jul 2020RentedNew contract
AED 160,000/yr12 months · AED 98 per sqft
23 Nov 2018RentedNew contract
AED 200,000/yr12 months · AED 123 per sqft
1 Jun 2018RentedNew contract
AED 230,000/yr12 months · AED 142 per sqft
25 Jan 2017RentedNew contract
AED 220,000/yr12 months · AED 135 per sqft
29 Sep 2009Sold by developerReady
AED 3,600,000AED 2,209 per sqft
29 Sep 2009SoldReady
AED 2,800,000AED 1,718 per sqft

Source: Dubai Land Department. Updated 7 March 2021.

Key facts

Type
2-bed apartment
Size
1,629 sqft
Floor
7th of 38
Parking
L1-754
Developer
Emaar
Completed
2007
Service charge
AED 35,100 /yr
Last sold
AED 3.4M · March 2021
Building
The Residences 1 (W3)

About 703, The Residences 1 (W3)

703 is a two-bedroom apartment of 1,629 sqft on the 7th floor of The Residences 1 (W3), a 38-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 7 March 2021 for AED 3,400,000, or AED 2,087 per sqft.

It has been rented continuously since 2017 on 4 Ejari contracts. The current contract, signed on 15 July 2020, is AED 160,000 a year: a gross yield of 4.7% on the 2021 price, before the service charge of about AED 35,100 a year.

Sales and rents for 703 over time

Sales
Unit 703, each saleTypical two-bed in The Residences 1 (W3)
2M4M2008201320182023Typical sale price by year: 2008 AED 1,348,800; 2009 AED 1,726,800; 2010 AED 1,624,800; 2011 AED 2,050,000; 2012 AED 2,375,000; 2013 AED 3,125,000; 2014 AED 4,500,000; 2015 AED 3,100,000; 2021 AED 3,600,000; 2023 AED 3,700,000; 2024 AED 3,425,000; 2025 AED 3,707,519; 2026 AED 3,850,000Sold by developer, September 2009: AED 3,600,000 (AED 2,209 per sqft)Sold, September 2009: AED 2,800,000 (AED 1,718 per sqft)Sold, March 2021: AED 3,400,000 (AED 2,087 per sqft)

703 has sold 3 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 703, each contractTypical two-bed in The Residences 1 (W3)
100K200K2012201620202024Typical rent by year: 2012 AED 175,000; 2013 AED 162,500; 2014 AED 177,500; 2015 AED 182,500; 2016 AED 176,875; 2017 AED 165,000; 2018 AED 155,000; 2019 AED 127,917; 2020 AED 110,750; 2021 AED 112,500; 2022 AED 138,432; 2023 AED 170,000; 2024 AED 180,000; 2025 AED 195,000; 2026 AED 185,500New contract, January 2017: AED 220,000 a yearNew contract, June 2018: AED 230,000 a yearNew contract, November 2018: AED 200,000 a yearNew contract, July 2020: AED 160,000 a year

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

2-beds in The Residences 1 (W3), and where 703 sits

All 69 2-beds →

Over the last 12 months two-beds sold for AED 3,800,000 to 5,200,000, around AED 2,651 per sqft, and rent for AED 156,839 to 280,000 a year. 703's AED 160,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
9 Feb 20265,200,000
4 Feb 20263,850,000
30 Jan 20263,800,000
3 Jun 20253,765,037
3 2-bed sales in the last 12 months

The Residences 1 (W3)

Building

185 apartments, 1-bed to 5-bed over 38 floors in Downtown Dubai, completed in 2007 by Emaar. 8 sold in the last 12 months.

Typical price per sqft
AED 2,958
Typical sale
AED 4.53M
Typical rent
AED 171K /yr
Typical yield
4.2%
The Residences 1 (W3), Downtown Dubai: prices, sales and rents →

Other units on the 7th floor

All 185 units in The Residences 1 (W3)
Value
7012-bedAED 557K · May 2008
7023-bedAED 1.91M · Aug 2010
7041-bedAED 1M · Aug 2010
7051-bedAED 1.41M · Jun 2012

703, The Residences 1 (W3) in numbers

  • Sold 3 times: first on 29 September 2009 for AED 2,800,000, last on 7 March 2021 for AED 3,400,000 (AED 2,087 per sqft).
  • Rented since January 2017 on 4 Ejari contracts, from AED 220,000 to AED 160,000 a year.
  • At AED 160,000 a year the gross yield on the 2021 price is 4.7%, before a service charge of about AED 35,100 a year (AED 21.55 per sqft).
  • Two-beds in The Residences 1 (W3) sold for AED 3,800,000–5,200,000 in the 12 months to November 2026; the building's median across all types is AED 2,958 per sqft.

Source: Dubai Land Department. Updated 7 March 2021.

Questions about 703, The Residences 1 (W3)

What did unit 703 last sell for?

AED 3,400,000 on 7 March 2021: AED 2,087 per sqft for 1,629 sqft. The unit has 3 registered sales; the first was AED 2,800,000 in September 2009.

What is the rent for unit 703?

AED 160,000 a year on the contract signed on 15 July 2020. The previous contract, from November 2018, was AED 200,000; the unit has been rented since January 2017.

How big is unit 703?

1,629 sqft (151.3 sqm): a two-bedroom apartment on the 7th floor of a 38-storey tower completed in 2007.

What is unit 703 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in The Residences 1 (W3) sold for AED 3,800,000 to 5,200,000 in the last 12 months, around AED 2,651 per sqft.

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Mortgage on 703, The Residences 1 (W3)

Starts from the last sale price (AED 3.4M, 7 March 2021). Switch to today's estimate once you have unlocked it.
Price
AED 3,400,000
Deposit, UAE resident (20%)
AED 680,000
Deposit, non-resident (40%)
AED 1,360,000
Monthly over 25 years at 3.7%
AED 13,910

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