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1-bed · 802 sqftRitz Residence, International City Phase 2 & 3 · 3rd floor · completed 2009

316, Ritz Residence

Sold prices and rental history: sold twice, last in March 2021, and rented continuously since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 316 · DLD and Ejari recordsUpdated 9 March 2021
Last soldAED 395K9 March 2021
Current rentAED 38K /yr24 May 2020
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 316, Ritz Residence

What is 316 worth today?

Last sold for AED 395,000 in 2021

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9 Mar 2021SoldReady
AED 395,000AED 492 per sqft
24 May 2020RentedNew contract
AED 38,000/yr12 months · AED 47 per sqft
24 May 2019RentedRenewal
AED 43,500/yr12 months · AED 54 per sqft
24 May 2018RentedNew contract
AED 48,000/yr12 months · AED 59 per sqft
1 Feb 2018RentedNew contract
AED 55,000/yr12 months · AED 68 per sqft
1 May 2016RentedNew contract
AED 55,000/yr12 months · AED 68 per sqft
3 May 2012Sold by developerReady
AED 670,000AED 834 per sqft

Source: Dubai Land Department. Updated 9 March 2021.

Key facts

Type
1-bed apartment
Size
802 sqft
Floor
3rd of 7
Parking
B2-66
Developer
Alwifaq Investment Properties
Completed
2009
Service charge
AED 11,500 /yr
Last sold
AED 395K · March 2021
Building
Ritz Residence

About 316, Ritz Residence

316 is a one-bedroom apartment of 802 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. It last sold on 9 March 2021 for AED 395,000, or AED 492 per sqft, 12% above the AED 441 one-beds in the building were fetching at the time.

It has been rented continuously since 2016 on 5 Ejari contracts. The current contract, signed on 24 May 2020, is AED 38,000 a year: a gross yield of 9.6% on the 2021 price, before the service charge of about AED 11,500 a year.

Sales and rents for 316 over time

Sales
Unit 316, each saleTypical one-bed in Ritz Residence
400K600K20112015201920232027Typical sale price by year: 2011 AED 630,000; 2012 AED 647,500; 2013 AED 400,000; 2014 AED 615,000; 2015 AED 620,000; 2016 AED 620,000; 2018 AED 332,500; 2021 AED 383,000; 2022 AED 365,000; 2023 AED 370,000; 2024 AED 447,000; 2025 AED 552,500; 2026 AED 675,000Sold by developer, May 2012: AED 670,000 (AED 834 per sqft)Sold, March 2021: AED 395,000 (AED 492 per sqft)

316 has sold twice; the dashed line is the one-bed median of each year in the building.

Rents
Unit 316, each contractTypical one-bed in Ritz Residence
40K2012201620202024Typical rent by year: 2012 AED 32,000; 2013 AED 35,000; 2014 AED 39,779; 2015 AED 43,500; 2016 AED 49,862; 2017 AED 48,000; 2018 AED 45,000; 2019 AED 40,000; 2020 AED 32,500; 2021 AED 30,000; 2022 AED 32,000; 2023 AED 34,825; 2024 AED 40,000; 2025 AED 45,000; 2026 AED 50,000New contract, May 2016: AED 55,000 a yearNew contract, February 2018: AED 55,000 a yearNew contract, May 2018: AED 48,000 a yearRenewal, May 2019: AED 43,500 a yearNew contract, May 2020: AED 38,000 a year

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

1-beds in Ritz Residence, and where 316 sits

All 75 1-beds →

316 last sold in March 2021 at AED 492 per sqft, 12% above what one-beds in Ritz Residence were fetching at the time (AED 441). Over the last 12 months one-beds sold for AED 330,000 to 700,000, around AED 838 per sqft, and rent for AED 25,000 to 63,000 a year. 316's AED 38,000 is in the lower half of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
26 Aug 2026680,000
18 Jun 2026700,000
15 May 2026670,000
13 May 2026330,000
7 1-bed 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 40K /yr
Typical yield
8.3%
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
307StudioAED 388K · Aug 2012
1–7 of 23

316, Ritz Residence in numbers

  • Sold twice: first on 3 May 2012 for AED 670,000, last on 9 March 2021 for AED 395,000 (AED 492 per sqft).
  • Rented since May 2016 on 5 Ejari contracts, from AED 55,000 to AED 38,000 a year.
  • At AED 38,000 a year the gross yield on the 2021 price is 9.6%, before a service charge of about AED 11,500 a year (AED 14.31 per sqft).
  • One-beds in Ritz Residence sold for AED 330,000–700,000 in the 12 months to November 2026; the building's median across all types is AED 833 per sqft.

Source: Dubai Land Department. Updated 9 March 2021.

Questions about 316, Ritz Residence

What did unit 316 last sell for?

AED 395,000 on 9 March 2021: AED 492 per sqft for 802 sqft. The unit has 2 registered sales; the first was AED 670,000 in May 2012.

What is the rent for unit 316?

AED 38,000 a year on the contract signed on 24 May 2020. The previous contract, from May 2019, was AED 43,500; the unit has been rented since May 2016.

How big is unit 316?

802 sqft (74.5 sqm): a one-bedroom apartment on the 3rd floor of a 7-storey tower completed in 2009.

What is unit 316 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in Ritz Residence sold for AED 330,000 to 700,000 in the last 12 months, around AED 838 per sqft.

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Mortgage on 316, Ritz Residence

Starts from the last sale price (AED 395K, 9 March 2021). Switch to today's estimate once you have unlocked it.
Price
AED 395,000
Deposit, UAE resident (20%)
AED 79,000
Deposit, non-resident (40%)
AED 158,000
Monthly over 25 years at 3.7%
AED 1,616

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