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3-bed · 2,098 sqftPaloma 3, Dubai Marina · 16th floor · completed 2008

1602, Paloma 3

Sold prices and rental history: sold 3 times, last in May 2021, and rented since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 1602 · DLD and Ejari recordsUpdated 20 May 2021
Last soldAED 3M20 May 2021
Current rentAED 158K /yr13 February 2021
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 1602, Paloma 3

What is 1602 worth today?

Last sold for AED 3,000,000 in 2021

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20 May 2021SoldReady
AED 3,000,000AED 1,429 per sqft
13 Feb 2021RentedNew contract
AED 157,500/yr12 months · AED 75 per sqft
10 Feb 2020RentedRenewal
AED 188,000/yr12 months · AED 90 per sqft
10 Feb 2019RentedNew contract
AED 190,000/yr12 months · AED 91 per sqft
29 Apr 2012SoldReady
AED 2,930,000AED 1,396 per sqft
24 Apr 2012Sold by developerReady
AED 4,105,988AED 1,957 per sqft

Source: Dubai Land Department. Updated 20 May 2021.

Key facts

Type
3-bed apartment
Size
2,098 sqft
Floor
16th of 38
Parking
P4 - 4142, P4 - 4143
Developer
Emaar
Completed
2008
Service charge
AED 41,600 /yr
Last sold
AED 3M · May 2021
Building
Paloma 3

About 1602, Paloma 3

1602 is a three-bedroom apartment of 2,098 sqft on the 16th floor of Paloma 3, a 38-storey tower in Dubai Marina completed in 2008 by Emaar. It last sold on 20 May 2021 for AED 3,000,000, or AED 1,429 per sqft, 5% above the AED 1,367 three-beds in the building were fetching at the time.

It has been rented since 2019 on 3 Ejari contracts. The current contract, signed on 13 February 2021, is AED 157,500 a year: a gross yield of 5.3% on the 2021 price, before the service charge of about AED 41,600 a year.

Sales and rents for 1602 over time

Sales
Unit 1602, 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, April 2012: AED 2,930,000 (AED 1,396 per sqft)Sold by developer, April 2012: AED 4,105,988 (AED 1,957 per sqft)Sold, May 2021: AED 3,000,000 (AED 1,429 per sqft)

1602 has sold 3 times; the dashed line is the three-bed median of each year in the building.

Rents
Unit 1602, each contractTypical three-bed in Paloma 3
150K200K250K2012201620202024Typical rent by year: 2012 AED 200,000; 2013 AED 220,000; 2014 AED 245,000; 2015 AED 230,000; 2016 AED 237,500; 2017 AED 230,000; 2018 AED 207,500; 2019 AED 190,000; 2020 AED 176,000; 2021 AED 165,157; 2022 AED 185,000; 2023 AED 220,000; 2024 AED 212,500; 2025 AED 245,000New contract, February 2019: AED 190,000 a yearRenewal, February 2020: AED 188,000 a yearNew contract, February 2021: AED 157,500 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 1602 sits

All 38 3-beds →

1602 last sold in May 2021 at AED 1,429 per sqft, 5% above what three-beds in Paloma 3 were fetching at the time (AED 1,367). Over the last 12 months three-beds sold for AED 4,999,999, around AED 2,383 per sqft, and rent for AED 265,000 to 300,000 a year.

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. 6 sold in the last 12 months.

Typical price per sqft
AED 2,338
Typical sale
AED 3.38M
Typical rent
AED 130K /yr
Typical yield
5.2%
Paloma 3, Dubai Marina: prices, sales and rents →

Other units on the 16th floor

All 181 units in Paloma 3
Value
16012-bedAED 692K · Jul 2010
16032-bedAED 4.35M · Jan 2024
16041-bedAED 2.05M · Jan 2025
16051-bedAED 900K · May 2019

1602, Paloma 3 in numbers

  • Sold 3 times: first on 24 April 2012 for AED 4,105,988, last on 20 May 2021 for AED 3,000,000 (AED 1,429 per sqft).
  • Rented since February 2019 on 3 Ejari contracts, from AED 190,000 to AED 157,500 a year.
  • At AED 157,500 a year the gross yield on the 2021 price is 5.3%, 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 2,338 per sqft.

Source: Dubai Land Department. Updated 20 May 2021.

Questions about 1602, Paloma 3

What did unit 1602 last sell for?

AED 3,000,000 on 20 May 2021: AED 1,429 per sqft for 2,098 sqft. The unit has 3 registered sales; the first was AED 4,105,988 in April 2012.

What is the rent for unit 1602?

AED 157,500 a year on the contract signed on 13 February 2021. The previous contract, from February 2020, was AED 188,000; the unit has been rented since February 2019.

How big is unit 1602?

2,098 sqft (194.9 sqm): a three-bedroom apartment on the 16th floor of a 38-storey tower completed in 2008.

What is unit 1602 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 1602, Paloma 3

Starts from the last sale price (AED 3M, 20 May 2021). Switch to today's estimate once you have unlocked it.
Price
AED 3,000,000
Deposit, UAE resident (20%)
AED 600,000
Deposit, non-resident (40%)
AED 1,200,000
Monthly over 25 years at 3.7%
AED 12,274

Plus AED 131,010 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →