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2-bed · 1,478 sqftThe Residences 3 (W1), Downtown Dubai · 5th floor · completed 2007

502, The Residences 3 (W1)

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

Unit 502 · DLD and Ejari recordsUpdated 23 March 2020
Last soldAED 2.75M23 March 2020
Current rentAED 170K /yr1 April 2019
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 502, The Residences 3 (W1)

What is 502 worth today?

Last sold for AED 2,747,000 in 2020

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23 Mar 2020SoldReady
AED 2,747,000AED 1,858 per sqft
1 Apr 2019RentedRenewal
AED 170,000/yr12 months · AED 115 per sqft
1 Nov 2015RentedRenewal
AED 200,000/yr8 months · AED 136 per sqft
1 Nov 2014RentedNew contract
AED 200,000/yr12 months · AED 136 per sqft
19 Nov 2008Sold by developerReady
AED 1,330,800AED 900 per sqft

Source: Dubai Land Department. Updated 23 March 2020.

Key facts

Type
2-bed apartment
Size
1,478 sqft
Floor
5th of 25
Parking
P-182
Developer
Emaar
Completed
2007
Service charge
AED 31,900 /yr
Last sold
AED 2.75M · March 2020
Building
The Residences 3 (W1)

About 502, The Residences 3 (W1)

502 is a two-bedroom apartment of 1,478 sqft on the 5th floor of The Residences 3 (W1), a 25-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 23 March 2020 for AED 2,747,000, or AED 1,858 per sqft.

It has been rented since 2014 on 3 Ejari contracts. The current contract, renewed on 1 April 2019, is AED 170,000 a year: a gross yield of 6.2% on the 2020 price, before the service charge of about AED 31,900 a year.

Sales and rents for 502 over time

Sales
Unit 502, 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, November 2008: AED 1,330,800 (AED 900 per sqft)Sold, March 2020: AED 2,747,000 (AED 1,858 per sqft)

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

Rents
Unit 502, 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, November 2014: AED 200,000 a yearRenewal, November 2015: AED 200,000 a yearRenewal, April 2019: AED 170,000 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 502 sits

All 43 2-beds →

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. 502's AED 170,000 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 5th floor

All 111 units in The Residences 3 (W1)
Value
5012-bedAED 1.28M · Jul 2010
5031-bedAED 723K · Sep 2010
5041-bedAED 620K · Jan 2011
5051-bedAED 1.97M · Jun 2023

502, The Residences 3 (W1) in numbers

  • Sold twice: first on 19 November 2008 for AED 1,330,800, last on 23 March 2020 for AED 2,747,000 (AED 1,858 per sqft).
  • Rented since November 2014 on 3 Ejari contracts, from AED 200,000 to AED 170,000 a year.
  • At AED 170,000 a year the gross yield on the 2020 price is 6.2%, 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 23 March 2020.

Questions about 502, The Residences 3 (W1)

What did unit 502 last sell for?

AED 2,747,000 on 23 March 2020: AED 1,858 per sqft for 1,478 sqft. The unit has 2 registered sales; the first was AED 1,330,800 in November 2008.

What is the rent for unit 502?

AED 170,000 a year on the contract renewed on 1 April 2019. The previous contract, from November 2015, was AED 200,000; the unit has been rented since November 2014.

How big is unit 502?

1,478 sqft (137.3 sqm): a two-bedroom apartment on the 5th floor of a 25-storey tower completed in 2007.

What is unit 502 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 502, The Residences 3 (W1)

Starts from the last sale price (AED 2.75M, 23 March 2020). Switch to today's estimate once you have unlocked it.
Price
AED 2,747,000
Deposit, UAE resident (20%)
AED 549,400
Deposit, non-resident (40%)
AED 1,098,800
Monthly over 25 years at 3.7%
AED 11,239

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