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1-bed · 1,023 sqftThe Residences 3 (W1), Downtown Dubai · 5th floor · completed 2007

505, The Residences 3 (W1)

Sold prices and rental history: sold 3 times, last in June 2023, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 505 · DLD and Ejari recordsUpdated 20 June 2023
Last soldAED 1.97M20 June 2023
Current rentAED 80K /yr24 October 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 505, The Residences 3 (W1)

What is 505 worth today?

Last sold for AED 1,970,000 in 2023

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20 Jun 2023SoldReady
AED 1,970,000AED 1,925 per sqft
24 Oct 2020RentedNew contract
AED 80,000/yr12 months · AED 78 per sqft
16 Oct 2017RentedNew contract
AED 144,000/yr12 months · AED 141 per sqft
7 Dec 2015SoldReady
AED 2,070,000AED 2,023 per sqft
11 Sep 2014RentedNew contract
AED 130,000/yr12 months · AED 127 per sqft
1 Sep 2013RentedNew contract
AED 85,000/yr12 months · AED 83 per sqft
7 Sep 2010Sold by developerReady
AED 794,800AED 776 per sqft

Source: Dubai Land Department. Updated 20 June 2023.

Key facts

Type
1-bed apartment
Size
1,023 sqft
Floor
5th of 25
Parking
P-185
Developer
Emaar
Completed
2007
Service charge
AED 22,000 /yr
Last sold
AED 1.97M · June 2023
Building
The Residences 3 (W1)

About 505, The Residences 3 (W1)

505 is a one-bedroom apartment of 1,023 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 20 June 2023 for AED 1,970,000, or AED 1,925 per sqft, 4% above the AED 1,846 one-beds in the building were fetching at the time.

It has been rented continuously since 2013 on 4 Ejari contracts. The current contract, signed on 24 October 2020, is AED 80,000 a year: a gross yield of 4.1% on the 2023 price, before the service charge of about AED 22,000 a year.

Sales and rents for 505 over time

Sales
Unit 505, each saleTypical one-bed in The Residences 3 (W1)
1M2M2008201320182023Typical sale price by year: 2008 AED 1,051,888; 2009 AED 756,800; 2010 AED 776,800; 2011 AED 824,800; 2012 AED 721,783; 2013 AED 1,850,000; 2014 AED 2,300,000; 2015 AED 2,125,000; 2016 AED 2,100,000; 2018 AED 1,640,000; 2022 AED 1,737,500; 2025 AED 2,345,000; 2026 AED 2,550,000Sold by developer, September 2010: AED 794,800 (AED 776 per sqft)Sold, December 2015: AED 2,070,000 (AED 2,023 per sqft)Sold, June 2023: AED 1,970,000 (AED 1,925 per sqft)

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

Rents
Unit 505, each contractTypical one-bed in The Residences 3 (W1)
100K150K2012201620202024Typical rent by year: 2012 AED 80,000; 2013 AED 105,000; 2014 AED 122,500; 2015 AED 122,500; 2016 AED 120,000; 2017 AED 120,000; 2018 AED 105,000; 2019 AED 91,000; 2020 AED 80,000; 2021 AED 78,750; 2022 AED 95,000; 2023 AED 109,744; 2024 AED 120,000; 2025 AED 125,000; 2026 AED 120,000New contract, September 2013: AED 85,000 a yearNew contract, September 2014: AED 130,000 a yearNew contract, October 2017: AED 144,000 a yearNew contract, October 2020: AED 80,000 a year

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

1-beds in The Residences 3 (W1), and where 505 sits

All 63 1-beds →

505 last sold in June 2023 at AED 1,925 per sqft, 4% above what one-beds in The Residences 3 (W1) were fetching at the time (AED 1,846). Over the last 12 months one-beds sold for AED 2,350,000 to 3,000,000, around AED 2,443 per sqft, and rent for AED 38,667 to 160,000 a year. 505's AED 80,000 is in the lower half of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
12 Oct 20262,430,000
13 Aug 20262,600,000
24 Jul 20262,500,000
1 May 20262,650,000
7 1-bed sales 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
5022-bedAED 2.75M · Mar 2020
5031-bedAED 723K · Sep 2010
5041-bedAED 620K · Jan 2011

505, The Residences 3 (W1) in numbers

  • Sold 3 times: first on 7 September 2010 for AED 794,800, last on 20 June 2023 for AED 1,970,000 (AED 1,925 per sqft).
  • Rented since September 2013 on 4 Ejari contracts, from AED 85,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2023 price is 4.1%, before a service charge of about AED 22,000 a year (AED 21.55 per sqft).
  • One-beds in The Residences 3 (W1) sold for AED 2,350,000–3,000,000 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 20 June 2023.

Questions about 505, The Residences 3 (W1)

What did unit 505 last sell for?

AED 1,970,000 on 20 June 2023: AED 1,925 per sqft for 1,023 sqft. The unit has 3 registered sales; the first was AED 794,800 in September 2010.

What is the rent for unit 505?

AED 80,000 a year on the contract signed on 24 October 2020. The previous contract, from October 2017, was AED 144,000; the unit has been rented since September 2013.

How big is unit 505?

1,023 sqft (95.0 sqm): a one-bedroom apartment on the 5th floor of a 25-storey tower completed in 2007.

What is unit 505 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in The Residences 3 (W1) sold for AED 2,350,000 to 3,000,000 in the last 12 months, around AED 2,443 per sqft.

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Mortgage on 505, The Residences 3 (W1)

Starts from the last sale price (AED 1.97M, 20 June 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,970,000
Deposit, UAE resident (20%)
AED 394,000
Deposit, non-resident (40%)
AED 788,000
Monthly over 25 years at 3.7%
AED 8,060

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