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Studio · 360 sqftMAG 505, Dubai South · 3rd floor · completed 2020

321, MAG 505

Sold prices and rental history: sold once, by the developer in February 2020, and rented continuously since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 321 · DLD and Ejari recordsUpdated 10 August 2024
Last soldAED 374K6 February 2020
Current rentAED 28K /yr10 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 321, MAG 505

What is 321 worth today?

Last sold for AED 374,360 in 2020

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10 Aug 2024RentedRenewal
AED 28,000/yr12 months · AED 79 per sqft
10 Aug 2023RentedNew contract
AED 24,000/yr12 months · AED 68 per sqft
10 Aug 2022RentedNew contract
AED 22,000/yr12 months · AED 62 per sqft
1 Aug 2021RentedNew contract
AED 17,000/yr12 months · AED 48 per sqft
6 Feb 2020Sold by developerOff-plan
AED 374,360AED 1,039 per sqft

Source: Dubai Land Department. Updated 10 August 2024.

Key facts

Type
Studio apartment
Size
360 sqft
Floor
3rd of 6
Parking
G-65
Developer
MAG
Completed
2020
Service charge
AED 5,900 /yr
Last sold
AED 374K · February 2020
Building
MAG 505

About 321, MAG 505

321 is a studio of 360 sqft on the 3rd floor of MAG 505, a 6-storey tower in Dubai South completed in 2020 by MAG. The developer sold it on 6 February 2020 for AED 374,360, or AED 1,039 per sqft, 6% above the AED 982 studios in the building were fetching at the time.

It has been rented continuously since 2021 on 4 Ejari contracts. The current contract, renewed on 10 August 2024, is AED 28,000 a year: a gross yield of 7.5% on the 2020 price, before the service charge of about AED 5,900 a year.

Sales and rents for 321 over time

Sales
Unit 321, each saleTypical studio in MAG 505
300K400K2018202020222024Typical sale price by year: 2018 AED 388,474; 2019 AED 378,280; 2020 AED 375,000; 2021 AED 252,350; 2023 AED 312,500; 2024 AED 347,500Sold by developer, February 2020: AED 374,360 (AED 1,039 per sqft)

321 has sold once; the dashed line is the studio median of each year in the building.

Rents
Unit 321, each contractTypical studio in MAG 505
20K30K40K2020202220242026Typical rent by year: 2020 AED 18,000; 2021 AED 18,000; 2022 AED 20,000; 2023 AED 24,000; 2024 AED 32,000; 2025 AED 37,000; 2026 AED 38,000New contract, August 2021: AED 17,000 a yearNew contract, August 2022: AED 22,000 a yearNew contract, August 2023: AED 24,000 a yearRenewal, August 2024: AED 28,000 a year

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

Studios in MAG 505, and where 321 sits

All 60 studios →

321 last sold in February 2020 at AED 1,039 per sqft, 6% above what studios in MAG 505 were fetching at the time (AED 982). Over the last 12 months studios sold for AED 420,000 to 550,000, around AED 1,182 per sqft, and rent for AED 26,000 to 50,000 a year. 321's AED 28,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
7 Aug 202619,936
5 Jun 2026420,000
3 Dec 2025550,000
15 Jan 2025495,000
3 studio sales in the last 12 months

MAG 505

Building

132 apartments, studios to 2-bed over 6 floors in Dubai South, completed in 2020 by MAG. 6 sold in the last 12 months.

Typical price per sqft
AED 1,107
Typical sale
AED 600K
Typical rent
AED 42K /yr
Typical yield
8.4%
MAG 505, Dubai South: prices, sales and rents →

Other units on the 3rd floor

All 132 units in MAG 505
Value
3011-bedAED 620K · Jan 2025
302StudioAED 364K · Sep 2019
303StudioAED 290K · Apr 2018
3041-bedAED 442K · May 2018
3052-bedAED 562K · Aug 2019
3061-bedAED 458K · Jun 2018
307StudioAED 380K · May 2019
1–7 of 21

321, MAG 505 in numbers

  • Sold once: by MAG on 6 February 2020 for AED 374,360, or AED 1,039 per sqft.
  • Rented since August 2021 on 4 Ejari contracts, from AED 17,000 to AED 28,000 a year.
  • At AED 28,000 a year the gross yield on the 2020 price is 7.5%, before a service charge of about AED 5,900 a year (AED 16.40 per sqft).
  • Studios in MAG 505 sold for AED 420,000–550,000 in the 12 months to November 2026; the building's median across all types is AED 1,107 per sqft.

Source: Dubai Land Department. Updated 10 August 2024.

Questions about 321, MAG 505

What did unit 321 last sell for?

AED 374,360 on 6 February 2020, sold by the developer: AED 1,039 per sqft for 360 sqft. It is the only registered sale of the unit.

What is the rent for unit 321?

AED 28,000 a year on the contract renewed on 10 August 2024. The previous contract, from August 2023, was AED 24,000; the unit has been rented since August 2021.

How big is unit 321?

360 sqft (33.4 sqm): a studio on the 3rd floor of a 6-storey tower completed in 2020.

What is unit 321 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in MAG 505 sold for AED 420,000 to 550,000 in the last 12 months, around AED 1,182 per sqft.

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Mortgage on 321, MAG 505

Starts from the last sale price (AED 374K, 6 February 2020). Switch to today's estimate once you have unlocked it.
Price
AED 374,360
Deposit, UAE resident (20%)
AED 74,872
Deposit, non-resident (40%)
AED 149,744
Monthly over 25 years at 3.7%
AED 1,532

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