2-bed · 1,478 sqftThe Residences 3 (W1), Downtown Dubai · 9th floor · completed 2007

902, The Residences 3 (W1)

Sold prices and rental history: sold 3 times, last in December 2014, and rented since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 902 · DLD and Ejari recordsUpdated 18 December 2014
Last soldAED 6.55M18 December 2014
Current rentAED 170K /yr3 March 2014
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 902, The Residences 3 (W1)

What is 902 worth today?

Last sold for AED 6,550,000 in 2014

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18 Dec 2014SoldReady
AED 6,550,000AED 4,431 per sqft
29 May 2014SoldReady
AED 5,750,000AED 3,890 per sqft
3 Mar 2014RentedNew contract
AED 170,000/yr12 months · AED 115 per sqft
18 Feb 2013RentedNew contract
AED 170,000/yr12 months · AED 115 per sqft
13 Sep 2010Sold by developerReady
AED 1,378,800AED 932 per sqft

Source: Dubai Land Department. Updated 18 December 2014.

Key facts

Type
2-bed apartment
Size
1,478 sqft
Floor
9th of 25
Parking
L1-687
Developer
Emaar
Completed
2007
Service charge
AED 31,900 /yr
Last sold
AED 6.55M · December 2014

About 902, The Residences 3 (W1)

902 is a two-bedroom apartment of 1,478 sqft on the 9th floor of The Residences 3 (W1), a 25-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 18 December 2014 for AED 6,550,000, or AED 4,431 per sqft, 10% above the AED 4,026 two-beds in the building were fetching at the time.

It has been rented since 2013 on 2 Ejari contracts. The current contract, signed on 3 March 2014, is AED 170,000 a year: a gross yield of 2.6% on the 2014 price, before the service charge of about AED 31,900 a year.

Sales and rents for 902 over time

Sales
Unit 902, 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 1,378,800 (AED 932 per sqft)Sold, May 2014: AED 5,750,000 (AED 3,890 per sqft)Sold, December 2014: AED 6,550,000 (AED 4,431 per sqft)

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

Rents
Unit 902, 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, February 2013: AED 170,000 a yearNew contract, March 2014: 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 902 sits

All 43 2-beds →

902 last sold in December 2014 at AED 4,431 per sqft, 10% above what two-beds in The Residences 3 (W1) were fetching at the time (AED 4,026). 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. 902'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 9th floor

All 111 units in The Residences 3 (W1)
Value
9012-bedAED 1.32M · Dec 2011
9031-bedAED 2M · Feb 2016
9041-bedAED 626K · Sep 2010
9051-bedAED 409K · May 2008

902, The Residences 3 (W1) in numbers

  • Sold 3 times: first on 13 September 2010 for AED 1,378,800, last on 18 December 2014 for AED 6,550,000 (AED 4,431 per sqft).
  • Rented since February 2013 on 2 Ejari contracts, at AED 170,000 a year.
  • At AED 170,000 a year the gross yield on the 2014 price is 2.6%, 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 18 December 2014.

Questions about 902, The Residences 3 (W1)

What did unit 902 last sell for?

AED 6,550,000 on 18 December 2014: AED 4,431 per sqft for 1,478 sqft. The unit has 3 registered sales; the first was AED 1,378,800 in September 2010.

What is the rent for unit 902?

AED 170,000 a year on the contract signed on 3 March 2014. The previous contract, from February 2013, was AED 170,000.

How big is unit 902?

1,478 sqft (137.3 sqm): a two-bedroom apartment on the 9th floor of a 25-storey tower completed in 2007.

What is unit 902 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 902, The Residences 3 (W1)

Starts from the last sale price (AED 6.55M, 18 December 2014). Switch to today's estimate once you have unlocked it.
Price
AED 6,550,000
Deposit, UAE resident (20%)
AED 1,310,000
Deposit, non-resident (40%)
AED 2,620,000
Monthly over 25 years at 3.7%
AED 26,798

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