2-bed · 1,435 sqftThe Residences 3 (W1), Downtown Dubai · 7th floor · completed 2007

701, The Residences 3 (W1)

Sold prices and rental history: sold once, by the developer in November 2008, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 701 · DLD and Ejari recordsUpdated 3 May 2022
Last soldAED 1.3M2 November 2008
Current rentAED 175K /yr3 May 2022
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 701, The Residences 3 (W1)

What is 701 worth today?

Last sold for AED 1,297,800 in 2008

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3 May 2022RentedNew contract
AED 175,000/yr12 months · AED 122 per sqft
20 Apr 2021RentedRenewal
AED 125,000/yr12 months · AED 87 per sqft
20 Apr 2020RentedRenewal
AED 135,000/yr12 months · AED 94 per sqft
20 Apr 2019RentedNew contract
AED 145,000/yr12 months · AED 101 per sqft
9 Aug 2018RentedNew contract
AED 207,407/yr8 months · AED 145 per sqft
9 Feb 2015RentedNew contract
AED 210,000/yr12 months · AED 147 per sqft
20 Apr 2014RentedNew contract
AED 190,000/yr12 months · AED 133 per sqft
2 Nov 2008Sold by developerReady
AED 1,297,800AED 904 per sqft

Source: Dubai Land Department. Updated 3 May 2022.

Key facts

Type
2-bed apartment
Size
1,435 sqft
Floor
7th of 25
Parking
P-120
Developer
Emaar
Completed
2007
Service charge
AED 30,900 /yr
Last sold
AED 1.3M · November 2008

About 701, The Residences 3 (W1)

701 is a two-bedroom apartment of 1,435 sqft on the 7th floor of The Residences 3 (W1), a 25-storey tower in Downtown Dubai completed in 2007 by Emaar. The developer sold it on 2 November 2008 for AED 1,297,800, or AED 904 per sqft, in line with the AED 924 two-beds in the building were fetching at the time.

It has been rented continuously since 2014 on 7 Ejari contracts. The current contract, signed on 3 May 2022, is AED 175,000 a year: a gross yield of 13.5% on the 2008 price, before the service charge of about AED 30,900 a year.

Sales and rents for 701 over time

Sales
Unit 701, 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 1,297,800 (AED 904 per sqft)

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

Rents
Unit 701, 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, April 2014: AED 190,000 a yearNew contract, February 2015: AED 210,000 a yearNew contract, August 2018: AED 207,407 a yearNew contract, April 2019: AED 145,000 a yearRenewal, April 2020: AED 135,000 a yearRenewal, April 2021: AED 125,000 a yearNew contract, May 2022: AED 175,000 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 701 sits

All 43 2-beds →

701 last sold in November 2008 at AED 904 per sqft, in line with what two-beds in The Residences 3 (W1) were fetching at the time (AED 924). 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. 701's AED 175,000 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 7th floor

All 111 units in The Residences 3 (W1)
Value
7022-bedAED 1.35M · Feb 2009
7031-bedAED 731K · Sep 2010
7041-bedAED 562K · Nov 2008
7051-bedAED 2.43M · Oct 2026

701, The Residences 3 (W1) in numbers

  • Sold once: by Emaar on 2 November 2008 for AED 1,297,800, or AED 904 per sqft.
  • Rented since April 2014 on 7 Ejari contracts. The rent fell from AED 190,000 to AED 125,000 in 2021 and recovered to AED 175,000 by May 2022.
  • At AED 175,000 a year the gross yield on the 2008 price is 13.5%, before a service charge of about AED 30,900 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 3 May 2022.

Questions about 701, The Residences 3 (W1)

What did unit 701 last sell for?

AED 1,297,800 on 2 November 2008, sold by the developer: AED 904 per sqft for 1,435 sqft. It is the only registered sale of the unit.

What is the rent for unit 701?

AED 175,000 a year on the contract signed on 3 May 2022. The previous contract, from April 2021, was AED 125,000; the unit has been rented since April 2014.

How big is unit 701?

1,435 sqft (133.3 sqm): a two-bedroom apartment on the 7th floor of a 25-storey tower completed in 2007.

What is unit 701 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 701, The Residences 3 (W1)

Starts from the last sale price (AED 1.3M, 2 November 2008). Switch to today's estimate once you have unlocked it.
Price
AED 1,297,800
Deposit, UAE resident (20%)
AED 259,560
Deposit, non-resident (40%)
AED 519,120
Monthly over 25 years at 3.7%
AED 5,310

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