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3-bed · 2,098 sqftPaloma 3, Dubai Marina · 6th floor · completed 2008

602, Paloma 3

Sold prices and rental history: sold once, by the developer in August 2010, and rented continuously since 2014. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 602 · DLD and Ejari recordsUpdated 1 February 2020
Last soldAED 2.26M18 August 2010
Current rentAED 190K /yr1 February 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 602, Paloma 3

What is 602 worth today?

Last sold for AED 2,257,888 in 2010

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1 Feb 2020RentedRenewal
AED 190,000/yr12 months · AED 91 per sqft
1 Feb 2019RentedNew contract
AED 195,000/yr12 months · AED 93 per sqft
10 Dec 2017RentedNew contract
AED 200,000/yr12 months · AED 95 per sqft
10 Dec 2016RentedNew contract
AED 235,000/yr12 months · AED 112 per sqft
12 Apr 2015RentedNew contract
AED 240,000/yr12 months · AED 114 per sqft
15 Nov 2014RentedNew contract
AED 235,000/yr12 months · AED 112 per sqft
18 Aug 2010Sold by developerReady
AED 2,257,888AED 1,076 per sqft

Source: Dubai Land Department. Updated 1 February 2020.

Key facts

Type
3-bed apartment
Size
2,098 sqft
Floor
6th of 38
Parking
P2 - 2248, P2 -2249
Developer
Emaar
Completed
2008
Service charge
AED 41,600 /yr
Last sold
AED 2.26M · August 2010
Building
Paloma 3

About 602, Paloma 3

602 is a three-bedroom apartment of 2,098 sqft on the 6th floor of Paloma 3, a 38-storey tower in Dubai Marina completed in 2008 by Emaar. The developer sold it on 18 August 2010 for AED 2,257,888, or AED 1,076 per sqft, 5% below the AED 1,127 three-beds in the building were fetching at the time.

It has been rented continuously since 2014 on 6 Ejari contracts. The current contract, renewed on 1 February 2020, is AED 190,000 a year: a gross yield of 8.4% on the 2010 price, before the service charge of about AED 41,600 a year.

Sales and rents for 602 over time

Sales
Unit 602, each saleTypical three-bed in Paloma 3
2M4M20092013201720212025Typical sale price by year: 2009 AED 2,450,000; 2010 AED 2,323,888; 2011 AED 2,407,944; 2012 AED 2,900,000; 2013 AED 3,500,000; 2014 AED 4,600,000; 2015 AED 2,306,552; 2021 AED 2,900,000; 2022 AED 3,775,000; 2023 AED 3,900,000; 2024 AED 4,150,000Sold by developer, August 2010: AED 2,257,888 (AED 1,076 per sqft)

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

Rents
Unit 602, each contractTypical three-bed in Paloma 3
200K250K2012201620202024Typical rent by year: 2012 AED 200,000; 2013 AED 220,000; 2014 AED 250,000; 2015 AED 230,000; 2016 AED 235,000; 2017 AED 230,000; 2018 AED 207,500; 2019 AED 190,000; 2020 AED 176,000; 2021 AED 165,313; 2022 AED 185,000; 2023 AED 220,000; 2024 AED 220,000; 2025 AED 240,000; 2026 AED 240,000New contract, November 2014: AED 235,000 a yearNew contract, April 2015: AED 240,000 a yearNew contract, December 2016: AED 235,000 a yearNew contract, December 2017: AED 200,000 a yearNew contract, February 2019: AED 195,000 a yearRenewal, February 2020: AED 190,000 a year

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

3-beds in Paloma 3, and where 602 sits

All 38 3-beds →

602 last sold in August 2010 at AED 1,076 per sqft, 5% below what three-beds in Paloma 3 were fetching at the time (AED 1,127). Over the last 12 months three-beds sold for AED 4,999,999, around AED 2,383 per sqft, and rent for AED 220,000 to 300,000 a year. 602's AED 190,000 is at the bottom of that range.

Recent 3-bed salesUnit no.Price (AED)Summary
26 Dec 20254,999,999
15 Apr 20255,500,000
6 Sep 20245,500,000
2 Jul 20241,850,000
1 3-bed sale in the last 12 months

Paloma 3

Building

181 apartments, studios to 3-bed over 38 floors in Dubai Marina, completed in 2008 by Emaar. 11 sold in the last 12 months.

Typical price per sqft
AED 2,283 Down 1.3%
Typical sale
AED 3.7M
Typical rent
AED 120K /yr
Typical yield
4.7%
Paloma 3, Dubai Marina: prices, sales and rents →

Other units on the 6th floor

All 181 units in Paloma 3
Value
6012-bedAED 1.3M · Aug 2010
6032-bedAED 1.84M · Dec 2009
6051-bedAED 825K · Aug 2010

602, Paloma 3 in numbers

  • Sold once: by Emaar on 18 August 2010 for AED 2,257,888, or AED 1,076 per sqft.
  • Rented since November 2014 on 6 Ejari contracts, from AED 235,000 to AED 190,000 a year.
  • At AED 190,000 a year the gross yield on the 2010 price is 8.4%, before a service charge of about AED 41,600 a year (AED 19.81 per sqft).
  • Three-beds in Paloma 3 sold for AED 4,999,999–4,999,999 in the 12 months to November 2026; the building's median across all types is AED 2,283 per sqft.

Source: Dubai Land Department. Updated 1 February 2020.

Questions about 602, Paloma 3

What did unit 602 last sell for?

AED 2,257,888 on 18 August 2010, sold by the developer: AED 1,076 per sqft for 2,098 sqft. It is the only registered sale of the unit.

What is the rent for unit 602?

AED 190,000 a year on the contract renewed on 1 February 2020. The previous contract, from February 2019, was AED 195,000; the unit has been rented since November 2014.

How big is unit 602?

2,098 sqft (194.9 sqm): a three-bedroom apartment on the 6th floor of a 38-storey tower completed in 2008.

What is unit 602 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Three-beds in Paloma 3 sold for AED 4,999,999 to 4,999,999 in the last 12 months, around AED 2,383 per sqft.

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Mortgage on 602, Paloma 3

Starts from the last sale price (AED 2.26M, 18 August 2010). Switch to today's estimate once you have unlocked it.
Price
AED 2,257,888
Deposit, UAE resident (20%)
AED 451,578
Deposit, non-resident (40%)
AED 903,155
Monthly over 25 years at 3.7%
AED 9,238

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