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2-bed · 1,431 sqftThe Residences 5 (E2), Downtown Dubai · 7th floor · completed 2007

702, The Residences 5 (E2)

Sold prices and rental history: sold 4 times, last in January 2024, and rented since 2012. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 702 · DLD and Ejari recordsUpdated 22 January 2024
Last soldAED 3.5M22 January 2024
Current rentAED 195K /yr1 March 2015
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 702, The Residences 5 (E2)

What is 702 worth today?

Last sold for AED 3,500,000 in 2024

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22 Jan 2024SoldReady
AED 3,500,000AED 2,445 per sqft
22 Sep 2020SoldReady
AED 2,500,000AED 1,747 per sqft
6 Apr 2016SoldReady
AED 3,700,000AED 2,585 per sqft
1 Mar 2015RentedRenewal
AED 195,000/yr12 months · AED 136 per sqft
1 Mar 2014RentedNew contract
AED 195,000/yr12 months · AED 136 per sqft
1 Mar 2012RentedNew contract
AED 125,000/yr12 months · AED 87 per sqft
8 Feb 2009Sold by developerReady
AED 1,247,800AED 872 per sqft

Source: Dubai Land Department. Updated 22 January 2024.

Key facts

Type
2-bed apartment
Size
1,431 sqft
Floor
7th of 33
Parking
P-256
Developer
Emaar
Completed
2007
Service charge
AED 32,900 /yr
Last sold
AED 3.5M · January 2024
Building
The Residences 5 (E2)

About 702, The Residences 5 (E2)

702 is a two-bedroom apartment of 1,431 sqft on the 7th floor of The Residences 5 (E2), a 33-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 22 January 2024 for AED 3,500,000, or AED 2,445 per sqft, 15% above the AED 2,124 two-beds in the building were fetching at the time.

It has been rented since 2012 on 3 Ejari contracts. The current contract, renewed on 1 March 2015, is AED 195,000 a year: a gross yield of 5.6% on the 2024 price, before the service charge of about AED 32,900 a year.

Sales and rents for 702 over time

Sales
Unit 702, each saleTypical two-bed in The Residences 5 (E2)
2M4M2008201320182023Typical sale price by year: 2008 AED 1,372,800; 2009 AED 1,272,800; 2010 AED 1,446,300; 2011 AED 1,846,944; 2012 AED 2,350,000; 2013 AED 3,400,000; 2014 AED 5,118,000; 2016 AED 3,300,000; 2017 AED 2,975,000; 2020 AED 2,500,000; 2021 AED 2,900,000; 2023 AED 2,875,000; 2024 AED 3,785,000Sold by developer, February 2009: AED 1,247,800 (AED 872 per sqft)Sold, April 2016: AED 3,700,000 (AED 2,585 per sqft)Sold, September 2020: AED 2,500,000 (AED 1,747 per sqft)Sold, January 2024: AED 3,500,000 (AED 2,445 per sqft)

702 has sold 4 times; the dashed line is the two-bed median of each year in the building.

Rents
Unit 702, each contractTypical two-bed in The Residences 5 (E2)
100K150K200K2012201620202024Typical rent by year: 2012 AED 140,000; 2013 AED 160,000; 2014 AED 184,500; 2015 AED 182,000; 2016 AED 175,000; 2017 AED 175,000; 2018 AED 160,000; 2019 AED 142,500; 2020 AED 112,500; 2021 AED 115,500; 2022 AED 135,000; 2023 AED 152,000; 2024 AED 175,000; 2025 AED 180,000; 2026 AED 175,000New contract, March 2012: AED 125,000 a yearNew contract, March 2014: AED 195,000 a yearRenewal, March 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 5 (E2), and where 702 sits

All 61 2-beds →

702 last sold in January 2024 at AED 2,445 per sqft, 15% above what two-beds in The Residences 5 (E2) were fetching at the time (AED 2,124). 702's AED 195,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
7 May 20254,700,000
6 Feb 20254,000,000
30 Oct 20244,550,000
1 Oct 20243,760,478
0 2-bed sales in the last 12 months

The Residences 5 (E2)

Building

154 apartments, 1-bed to 4-bed over 33 floors in Downtown Dubai, completed in 2007 by Emaar. 7 sold in the last 12 months.

Typical price per sqft
AED 2,152
Typical sale
AED 2.28M
Typical rent
AED 160K /yr
Typical yield
5.8%
The Residences 5 (E2), Downtown Dubai: prices, sales and rents →

Other units on the 7th floor

All 154 units in The Residences 5 (E2)
Value
7013-bedAED 4M · Dec 2020
7031-bedAED 2.1M · Jan 2017
7041-bedAED 1.38M · Jun 2026
7052-bedAED 2.85M · Oct 2023

702, The Residences 5 (E2) in numbers

  • Sold 4 times: first on 8 February 2009 for AED 1,247,800, last on 22 January 2024 for AED 3,500,000 (AED 2,445 per sqft).
  • Rented since March 2012 on 3 Ejari contracts, from AED 125,000 to AED 195,000 a year.
  • At AED 195,000 a year the gross yield on the 2024 price is 5.6%, before a service charge of about AED 32,900 a year (AED 23.00 per sqft).

Source: Dubai Land Department. Updated 22 January 2024.

Questions about 702, The Residences 5 (E2)

What did unit 702 last sell for?

AED 3,500,000 on 22 January 2024: AED 2,445 per sqft for 1,431 sqft. The unit has 4 registered sales; the first was AED 1,247,800 in February 2009.

What is the rent for unit 702?

AED 195,000 a year on the contract renewed on 1 March 2015. The previous contract, from March 2014, was AED 195,000; the unit has been rented since March 2012.

How big is unit 702?

1,431 sqft (132.9 sqm): a two-bedroom apartment on the 7th floor of a 33-storey tower completed in 2007.

What is unit 702 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google.

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Mortgage on 702, The Residences 5 (E2)

Starts from the last sale price (AED 3.5M, 22 January 2024). Switch to today's estimate once you have unlocked it.
Price
AED 3,500,000
Deposit, UAE resident (20%)
AED 700,000
Deposit, non-resident (40%)
AED 1,400,000
Monthly over 25 years at 3.7%
AED 14,320

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