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Studio · 434 sqftRitz Residence, International City Phase 2 & 3 · 3rd floor · completed 2009

307, Ritz Residence

Sold prices and rental history: sold once, by the developer in August 2012, and rented continuously since 2018. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 307 · DLD and Ejari recordsUpdated 10 September 2024
Last soldAED 388K1 August 2012
Current rentAED 31K /yr10 September 2024
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 307, Ritz Residence

What is 307 worth today?

Last sold for AED 388,000 in 2012

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10 Sep 2024RentedNew contract
AED 31,000/yr12 months · AED 72 per sqft
10 Jun 2023RentedRenewal
AED 22,575/yr12 months · AED 52 per sqft
10 Jun 2022RentedNew contract
AED 21,500/yr12 months · AED 50 per sqft
1 Mar 2022RentedNew contract
AED 20,000/yr12 months · AED 46 per sqft
1 Mar 2021RentedNew contract
AED 19,000/yr12 months · AED 44 per sqft
25 Aug 2019RentedNew contract
AED 25,000/yr12 months · AED 58 per sqft
15 Jul 2018RentedNew contract
AED 29,000/yr12 months · AED 67 per sqft
1 Aug 2012Sold by developerReady
AED 388,000AED 894 per sqft

Source: Dubai Land Department. Updated 10 September 2024.

Key facts

Type
Studio apartment
Size
434 sqft
Floor
3rd of 7
Parking
B2-55
Developer
Alwifaq Investment Properties
Completed
2009
Service charge
AED 6,200 /yr
Last sold
AED 388K · August 2012
Building
Ritz Residence

About 307, Ritz Residence

307 is a studio of 434 sqft on the 3rd floor of Ritz Residence, a 7-storey tower in International City Phase 2 & 3 completed in 2009 by Alwifaq Investment Properties. The developer sold it on 1 August 2012 for AED 388,000, or AED 894 per sqft, 6% above the AED 841 studios in the building were fetching at the time.

It has been rented continuously since 2018 on 7 Ejari contracts. The current contract, signed on 10 September 2024, is AED 31,000 a year: a gross yield of 8.0% on the 2012 price, before the service charge of about AED 6,200 a year.

Sales and rents for 307 over time

Sales
Unit 307, each saleTypical studio in Ritz Residence
300K400K2011201520192023Typical sale price by year: 2011 AED 380,000; 2012 AED 380,000; 2013 AED 320,000; 2014 AED 348,720; 2015 AED 420,000; 2016 AED 370,000; 2017 AED 372,500; 2018 AED 330,000; 2022 AED 237,500; 2023 AED 275,000; 2024 AED 355,000; 2025 AED 417,500Sold by developer, August 2012: AED 388,000 (AED 894 per sqft)

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

Rents
Unit 307, each contractTypical studio in Ritz Residence
20K30K40K2012201620202024Typical rent by year: 2012 AED 20,500; 2013 AED 26,000; 2014 AED 34,000; 2015 AED 39,500; 2016 AED 39,779; 2017 AED 36,000; 2018 AED 30,000; 2019 AED 25,750; 2020 AED 22,500; 2021 AED 20,000; 2022 AED 22,000; 2023 AED 25,000; 2024 AED 30,000; 2025 AED 32,000; 2026 AED 36,000New contract, July 2018: AED 29,000 a yearNew contract, August 2019: AED 25,000 a yearNew contract, March 2021: AED 19,000 a yearNew contract, March 2022: AED 20,000 a yearNew contract, June 2022: AED 21,500 a yearRenewal, June 2023: AED 22,575 a yearNew contract, September 2024: AED 31,000 a year

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

Studios in Ritz Residence, and where 307 sits

All 75 studios →

307 last sold in August 2012 at AED 894 per sqft, 6% above what studios in Ritz Residence were fetching at the time (AED 841). Over the last 12 months studios sold for AED 410,000 to 465,000, around AED 828 per sqft, and rent for AED 25,000 to 60,000 a year. 307's AED 31,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
2 Nov 2026420,000
21 Nov 2025465,000
10 Nov 2025410,000
9 Sep 2025425,000
3 studio sales in the last 12 months

Ritz Residence

Building

150 apartments, studios to 1-bed over 7 floors in International City Phase 2 & 3, completed in 2009 by Alwifaq Investment Properties. 10 sold in the last 12 months.

Typical price per sqft
AED 833 Up 26.2%
Typical sale
AED 565K
Typical rent
AED 41K /yr
Typical yield
8.2%
Ritz Residence, International City Phase 2 & 3: prices, sales and rents →

Other units on the 3rd floor

All 150 units in Ritz Residence
Value
3011-bedAED 360K · Jul 2023
302StudioAED 270K · Dec 2019
303StudioAED 395K · Dec 2011
304StudioAED 395K · Dec 2011
305StudioAED 395K · Feb 2012
306StudioAED 395K · Oct 2012
308StudioAED 347K · Jan 2014
1–7 of 23

307, Ritz Residence in numbers

  • Sold once: by Alwifaq Investment Properties on 1 August 2012 for AED 388,000, or AED 894 per sqft.
  • Rented since July 2018 on 7 Ejari contracts. The rent fell from AED 29,000 to AED 19,000 in 2021 and recovered to AED 31,000 by September 2024.
  • At AED 31,000 a year the gross yield on the 2012 price is 8.0%, before a service charge of about AED 6,200 a year (AED 14.31 per sqft).
  • Studios in Ritz Residence sold for AED 410,000–465,000 in the 12 months to November 2026; the building's median across all types is AED 833 per sqft.

Source: Dubai Land Department. Updated 10 September 2024.

Questions about 307, Ritz Residence

What did unit 307 last sell for?

AED 388,000 on 1 August 2012, sold by the developer: AED 894 per sqft for 434 sqft. It is the only registered sale of the unit.

What is the rent for unit 307?

AED 31,000 a year on the contract signed on 10 September 2024. The previous contract, from June 2023, was AED 22,575; the unit has been rented since July 2018.

How big is unit 307?

434 sqft (40.3 sqm): a studio on the 3rd floor of a 7-storey tower completed in 2009.

What is unit 307 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in Ritz Residence sold for AED 410,000 to 465,000 in the last 12 months, around AED 828 per sqft.

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Mortgage on 307, Ritz Residence

Starts from the last sale price (AED 388K, 1 August 2012). Switch to today's estimate once you have unlocked it.
Price
AED 388,000
Deposit, UAE resident (20%)
AED 77,600
Deposit, non-resident (40%)
AED 155,200
Monthly over 25 years at 3.7%
AED 1,587

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