Home
Dubai prices
About
Research
1-bed · 1,023 sqftThe Residences 3 (W1), Downtown Dubai · 5th floor · completed 2007

505, The Residences 3 (W1)

Sold prices and rental history: sold 3 times, last in June 2023, and rented continuously since 2013. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 505 · DLD and Ejari recordsUpdated 20 June 2023
Last soldAED 1.97M20 June 2023
Current rentAED 80K /yr24 October 2020
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 505, The Residences 3 (W1)

What is 505 worth today?

Last sold for AED 1,970,000 in 2023

Unlock today's estimate, updated daily, with

Verify once to see valuations for every property. Everything else on this page is open.

20 Jun 2023SoldReady
AED 1,970,000AED 1,925 per sqft
24 Oct 2020RentedNew contract
AED 80,000/yr12 months · AED 78 per sqft
16 Oct 2017RentedNew contract
AED 144,000/yr12 months · AED 141 per sqft
7 Dec 2015SoldReady
AED 2,070,000AED 2,023 per sqft
11 Sep 2014RentedNew contract
AED 130,000/yr12 months · AED 127 per sqft
1 Sep 2013RentedNew contract
AED 85,000/yr12 months · AED 83 per sqft
7 Sep 2010Sold by developerReady
AED 794,800AED 776 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 20 June 2023.

Key facts

Type
1-bed apartment
Size
1,023 sqft
Floor
5th of 25
Parking
P-185
Developer
Emaar
Completed
2007
Service charge
AED 22,000 /yr
Last sold
AED 1.97M · June 2023
Building
The Residences 3 (W1)

About 505, The Residences 3 (W1)

505 is a one-bedroom apartment of 1,023 sqft on the 5th floor of The Residences 3 (W1), a 25-storey tower in Downtown Dubai completed in 2007 by Emaar. It last sold on 20 June 2023 for AED 1,970,000, or AED 1,925 per sqft, in line with the AED 1,925 one-beds in the building were fetching at the time.

It has been rented continuously since 2013 on 4 Ejari contracts. The current contract, signed on 24 October 2020, is AED 80,000 a year: a gross yield of 4.1% on the 2023 price, before the service charge of about AED 22,000 a year.

Sales and rents for 505 over time

Sales
Unit 505, each saleTypical one-bed in The Residences 3 (W1)
1M2M2008201220162020Typical sale price by year: 2008 AED 993,888; 2009 AED 756,800; 2010 AED 776,800; 2011 AED 797,800; 2012 AED 721,783; 2013 AED 1,850,000; 2014 AED 2,300,000; 2015 AED 2,150,000; 2016 AED 2,100,000; 2018 AED 1,640,000; 2022 AED 1,875,000Sold by developer, September 2010: AED 794,800 (AED 776 per sqft)Sold, December 2015: AED 2,070,000 (AED 2,023 per sqft)Sold, June 2023: AED 1,970,000 (AED 1,925 per sqft)

505 has sold 3 times; the dashed line is the one-bed median of each year in the building.

Rents
Unit 505, each contractTypical one-bed in The Residences 3 (W1)
100K150K2012201620202024Typical rent by year: 2012 AED 80,000; 2013 AED 107,500; 2014 AED 125,000; 2015 AED 122,500; 2016 AED 120,000; 2017 AED 120,000; 2018 AED 106,250; 2019 AED 90,000; 2020 AED 80,000; 2021 AED 78,750; 2022 AED 95,000; 2023 AED 109,793; 2024 AED 120,000; 2025 AED 125,000; 2026 AED 112,500New contract, September 2013: AED 85,000 a yearNew contract, September 2014: AED 130,000 a yearNew contract, October 2017: AED 144,000 a yearNew contract, October 2020: AED 80,000 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 The Residences 3 (W1), and where 505 sits

All 60 1-beds →

505 last sold in June 2023 at AED 1,925 per sqft, in line with what one-beds in The Residences 3 (W1) were fetching at the time (AED 1,925). Over the last 12 months one-beds sold for AED 2,350,000 to 3,000,000, around AED 2,713 per sqft, and rent for AED 60,000 to 160,000 a year. 505's AED 80,000 is in the lower half of that range.

Recent 1-bed salesUnit no.Price (AED)Summary
29 Jan 20263,000,000
6 Jan 20262,350,000
9 May 20252,200,000
26 Jan 20252,350,000
2 1-bed sales in the last 12 months

The Residences 3 (W1)

Building

111 apartments, studios to 5-bed over 25 floors in Downtown Dubai, completed in 2007 by Emaar. 2 sold in the last 12 months.

Typical price per sqft
AED 2,713
Typical sale
AED 2.68M
Typical rent
AED 127K /yr
Typical yield
4.8%
The Residences 3 (W1), Downtown Dubai: prices, sales and rents →

Other units on the 5th floor

All 111 units in The Residences 3 (W1)
Value
5012-bedAED 1.28M · Jul 2010
5022-bedAED 2.75M · Mar 2020
5031-bedAED 723K · Sep 2010
5041-bedAED 620K · Jan 2011

505, The Residences 3 (W1) in numbers

  • Sold 3 times: first on 7 September 2010 for AED 794,800, last on 20 June 2023 for AED 1,970,000 (AED 1,925 per sqft).
  • Rented since September 2013 on 4 Ejari contracts, from AED 85,000 to AED 80,000 a year.
  • At AED 80,000 a year the gross yield on the 2023 price is 4.1%, before a service charge of about AED 22,000 a year (AED 21.55 per sqft).
  • One-beds in The Residences 3 (W1) sold for AED 2,350,000–3,000,000 in the 12 months to November 2026; the building's median across all types is AED 2,713 per sqft.

Source: YallaValue analysis of Dubai Land Department records. Updated 20 June 2023.

Questions about 505, The Residences 3 (W1)

What did unit 505 last sell for?

AED 1,970,000 on 20 June 2023: AED 1,925 per sqft for 1,023 sqft. The unit has 3 registered sales; the first was AED 794,800 in September 2010.

What is the rent for unit 505?

AED 80,000 a year on the contract signed on 24 October 2020. The previous contract, from October 2017, was AED 144,000; the unit has been rented since September 2013.

How big is unit 505?

1,023 sqft (95.0 sqm): a one-bedroom apartment on the 5th floor of a 25-storey tower completed in 2007.

What is unit 505 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. One-beds in The Residences 3 (W1) sold for AED 2,350,000 to 3,000,000 in the last 12 months, around AED 2,713 per sqft.

Selling 505? Put it on the OpenOffers board

Public offers from verified, deposit-backed buyers; a reserve you set; no fee unless it sells, then 1%. Sale agreed in weeks, not months.

How OpenOffers works

Mortgage on 505, The Residences 3 (W1)

Starts from the last sale price (AED 1.97M, 20 June 2023). Switch to today's estimate once you have unlocked it.
Price
AED 1,970,000
Deposit, UAE resident (20%)
AED 394,000
Deposit, non-resident (40%)
AED 788,000
Monthly over 25 years at 3.7%
AED 8,060

Plus AED 87,750 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →