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2-bed · 1,478 sqftThe Residences 3 (W1), Downtown Dubai · 4th floor · completed 2007

402, The Residences 3 (W1)

Sold prices and rental history: sold twice, last in May 2016, and rented since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 402 · DLD and Ejari recordsUpdated 2 May 2016
Last soldAED 5.5M2 May 2016
Current rentAED 195K /yr5 October 2015
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 402, The Residences 3 (W1)

What is 402 worth today?

Last sold for AED 5,500,000 in 2016

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2 May 2016SoldReady
AED 5,500,000AED 3,721 per sqft
5 Oct 2015RentedRenewal
AED 195,000/yr12 months · AED 132 per sqft
5 Oct 2014RentedNew contract
AED 195,000/yr12 months · AED 132 per sqft
16 Sep 2010Sold by developerReady
AED 1,318,800AED 892 per sqft

Source: Dubai Land Department. Updated 2 May 2016.

Key facts

Type
2-bed apartment
Size
1,478 sqft
Floor
4th of 25
Parking
P-177
Developer
Emaar
Completed
2007
Service charge
AED 31,900 /yr
Last sold
AED 5.5M · May 2016
Building
The Residences 3 (W1)

About 402, The Residences 3 (W1)

402 is a two-bedroom apartment of 1,478 sqft on the 4th floor of The Residences 3 (W1), a 25-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 2 May 2016 for AED 5,500,000, or AED 3,721 per sqft, in line with the AED 3,656 two-beds in the building were fetching at the time.

It has been rented since 2014 on 2 Ejari contracts. The current contract, renewed on 5 October 2015, is AED 195,000 a year: a gross yield of 3.5% on the 2016 price, before the service charge of about AED 31,900 a year.

Sales and rents for 402 over time

Sales
Unit 402, each saleTypical two-bed in The Residences 3 (W1)
2.5M5M20082012201620202024Typical sale price by year: 2008 AED 1,336,300; 2009 AED 1,534,800; 2010 AED 1,422,800; 2011 AED 2,300,000; 2012 AED 3,330,000; 2013 AED 4,450,000; 2014 AED 5,950,000; 2015 AED 5,350,000; 2021 AED 3,158,790; 2023 AED 4,300,000Sold by developer, September 2010: AED 1,318,800 (AED 892 per sqft)Sold, May 2016: AED 5,500,000 (AED 3,721 per sqft)

402 has sold twice; the dashed line is the two-bed median of each year in the building.

Rents
Unit 402, each contractTypical two-bed in The Residences 3 (W1)
150K200K2012201620202024Typical rent by year: 2012 AED 147,000; 2013 AED 175,000; 2014 AED 190,000; 2015 AED 200,000; 2016 AED 195,000; 2017 AED 182,500; 2018 AED 180,000; 2019 AED 160,000; 2020 AED 145,000; 2021 AED 148,000; 2022 AED 165,000; 2023 AED 176,000; 2024 AED 209,723; 2025 AED 220,000; 2026 AED 202,500New contract, October 2014: AED 195,000 a yearRenewal, October 2015: AED 195,000 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 3 (W1), and where 402 sits

All 43 2-beds →

402 last sold in May 2016 at AED 3,721 per sqft, in line with what two-beds in The Residences 3 (W1) were fetching at the time (AED 3,656). Over the last 12 months two-beds sold for AED 4,500,000, around AED 3,135 per sqft, and rent for AED 160,000 to 300,000 a year. 402's AED 195,000 is in the lower half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
10 Sep 20264,500,000
4 Mar 20254,400,000
8 Jan 20255,850,000
8 Oct 20244,950,000
1 2-bed sale in the last 12 months

The Residences 3 (W1)

Building

111 apartments, studios to 5-bed over 25 floors in Downtown Dubai, completed in 2007 by Emaar. 8 sold in the last 12 months.

Typical price per sqft
AED 2,492
Typical sale
AED 2.55M
Typical rent
AED 134K /yr
Typical yield
5.2%
The Residences 3 (W1), Downtown Dubai: prices, sales and rents →

Other units on the 4th floor

All 111 units in The Residences 3 (W1)
Value
4012-bedAED 5.75M · Feb 2015
4031-bedAED 1.25M · Sep 2010
4041-bedAED 2M · Dec 2014
4051-bedAED 775K · Aug 2018

402, The Residences 3 (W1) in numbers

  • Sold twice: first on 16 September 2010 for AED 1,318,800, last on 2 May 2016 for AED 5,500,000 (AED 3,721 per sqft).
  • Rented since October 2014 on 2 Ejari contracts, at AED 195,000 a year.
  • At AED 195,000 a year the gross yield on the 2016 price is 3.5%, before a service charge of about AED 31,900 a year (AED 21.55 per sqft).
  • Two-beds in The Residences 3 (W1) sold for AED 4,500,000–4,500,000 in the 12 months to November 2026; the building's median across all types is AED 2,492 per sqft.

Source: Dubai Land Department. Updated 2 May 2016.

Questions about 402, The Residences 3 (W1)

What did unit 402 last sell for?

AED 5,500,000 on 2 May 2016: AED 3,721 per sqft for 1,478 sqft. The unit has 2 registered sales; the first was AED 1,318,800 in September 2010.

What is the rent for unit 402?

AED 195,000 a year on the contract renewed on 5 October 2015. The previous contract, from October 2014, was AED 195,000.

How big is unit 402?

1,478 sqft (137.3 sqm): a two-bedroom apartment on the 4th floor of a 25-storey tower completed in 2007.

What is unit 402 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 3 (W1) sold for AED 4,500,000 to 4,500,000 in the last 12 months, around AED 3,135 per sqft.

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Mortgage on 402, The Residences 3 (W1)

Starts from the last sale price (AED 5.5M, 2 May 2016). Switch to today's estimate once you have unlocked it.
Price
AED 5,500,000
Deposit, UAE resident (20%)
AED 1,100,000
Deposit, non-resident (40%)
AED 2,200,000
Monthly over 25 years at 3.7%
AED 22,502

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