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2-bed · 2,352 sqftLa Residencia Del Mar, Dubai Marina · 7th floor · completed 2006

701, La Residencia Del Mar

Sold prices and rental history: sold once, by the developer in July 2011, and rented continuously since 2012. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 701 · DLD and Ejari recordsUpdated 1 October 2018
Last soldAED 1.6M19 July 2011
Current rentAED 130K /yr1 October 2018
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 701, La Residencia Del Mar

What is 701 worth today?

Last sold for AED 1,600,000 in 2011

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1 Oct 2018RentedRenewal
AED 130,000/yr12 months · AED 55 per sqft
1 Oct 2017RentedNew contract
AED 130,000/yr12 months · AED 55 per sqft
7 Apr 2015RentedNew contract
AED 160,000/yr12 months · AED 68 per sqft
1 Oct 2014RentedNew contract
AED 140,000/yr12 months · AED 59 per sqft
1 Oct 2013RentedNew contract
AED 140,000/yr12 months · AED 59 per sqft
15 Sep 2012RentedNew contract
AED 130,000/yr12 months · AED 55 per sqft
19 Jul 2011Sold by developerReady
AED 1,600,000AED 680 per sqft

Source: Dubai Land Department. Updated 1 October 2018.

Key facts

Type
2-bed apartment
Size
2,352 sqft
Floor
7th of 13
Parking
1,2
Developer
Palma Holding
Completed
2006
Service charge
AED 33,900 /yr
Last sold
AED 1.6M · July 2011
Building
La Residencia Del Mar

About 701, La Residencia Del Mar

701 is a two-bedroom apartment of 2,352 sqft on the 7th floor of La Residencia Del Mar, a 13-storey tower in Dubai Marina completed in 2006 by Palma Holding. The developer sold it on 19 July 2011 for AED 1,600,000, or AED 680 per sqft, 116% above the AED 315 two-beds in the building were fetching at the time.

It has been rented continuously since 2012 on 6 Ejari contracts. The current contract, renewed on 1 October 2018, is AED 130,000 a year: a gross yield of 8.1% on the 2011 price, before the service charge of about AED 33,900 a year.

Sales and rents for 701 over time

Sales
Unit 701, each saleTypical two-bed in La Residencia Del Mar
1M1.5M200820102012Typical sale price by year: 2008 AED 1,484,880; 2009 AED 1,239,875; 2011 AED 742,440Sold by developer, July 2011: AED 1,600,000 (AED 680 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 La Residencia Del Mar
100K125K150K2012201620202024Typical rent by year: 2013 AED 140,000; 2014 AED 136,500; 2015 AED 150,000; 2016 AED 152,500; 2017 AED 139,000; 2018 AED 130,000; 2019 AED 125,000; 2020 AED 108,500; 2021 AED 113,000; 2022 AED 115,000; 2023 AED 123,875; 2024 AED 138,500; 2025 AED 155,000; 2026 AED 138,525New contract, September 2012: AED 130,000 a yearNew contract, October 2013: AED 140,000 a yearNew contract, October 2014: AED 140,000 a yearNew contract, April 2015: AED 160,000 a yearNew contract, October 2017: AED 130,000 a yearRenewal, October 2018: AED 130,000 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 La Residencia Del Mar, and where 701 sits

All 12 2-beds →

701 last sold in July 2011 at AED 680 per sqft, 116% above what two-beds in La Residencia Del Mar were fetching at the time (AED 315). 701's AED 130,000 is in the upper half of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
25 Dec 20232,500,000
6 Jun 20222,000,000
6 Apr 20221,850,000
2 Mar 20211,750,000
0 2-bed sales in the last 12 months

La Residencia Del Mar

Building

41 apartments, 2-bed to 3-bed over 13 floors in Dubai Marina, completed in 2006 by Palma Holding. No sale in the last 12 months.

Typical price per sqft
Few sales
Typical sale
Few sales
Typical rent
AED 160K /yr
Typical yield
La Residencia Del Mar, Dubai Marina: prices, sales and rents →

Other units on the 7th floor

All 41 units in La Residencia Del Mar
Value
7023-bedAED 2.73M · Jul 2008
7033-bedAED 2.66M · Jul 2008

701, La Residencia Del Mar in numbers

  • Sold once: by Palma Holding on 19 July 2011 for AED 1,600,000, or AED 680 per sqft.
  • Rented since September 2012 on 6 Ejari contracts, at AED 130,000 a year.
  • At AED 130,000 a year the gross yield on the 2011 price is 8.1%, before a service charge of about AED 33,900 a year (AED 14.40 per sqft).

Source: Dubai Land Department. Updated 1 October 2018.

Questions about 701, La Residencia Del Mar

What did unit 701 last sell for?

AED 1,600,000 on 19 July 2011, sold by the developer: AED 680 per sqft for 2,352 sqft. It is the only registered sale of the unit.

What is the rent for unit 701?

AED 130,000 a year on the contract renewed on 1 October 2018. The previous contract, from October 2017, was AED 130,000; the unit has been rented since September 2012.

How big is unit 701?

2,352 sqft (218.5 sqm): a two-bedroom apartment on the 7th floor of a 13-storey tower completed in 2006.

What is unit 701 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 701, La Residencia Del Mar

Starts from the last sale price (AED 1.6M, 19 July 2011). Switch to today's estimate once you have unlocked it.
Price
AED 1,600,000
Deposit, UAE resident (20%)
AED 320,000
Deposit, non-resident (40%)
AED 640,000
Monthly over 25 years at 3.7%
AED 6,546

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