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Studio · 347 sqftMAG 555, Dubai South · 4th floor · completed 2020

408, MAG 555

Sold prices and rental history: sold twice, last in August 2024, and rented since 2021. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 408 · DLD and Ejari recordsUpdated 14 August 2024
Last soldAED 400K14 August 2024
Current rentAED 22K /yr5 July 2023
Estimated yieldfree after one verification
Today's valuefree after one verification
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Property timeline for 408, MAG 555

What is 408 worth today?

Last sold for AED 400,000 in 2024

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14 Aug 2024SoldReady
AED 400,000AED 1,151 per sqft
5 Jul 2023RentedRenewal
AED 21,500/yr12 months · AED 62 per sqft
5 Jul 2022RentedNew contract
AED 21,500/yr12 months · AED 62 per sqft
1 Mar 2021RentedNew contract
AED 16,000/yr12 months · AED 46 per sqft
8 Mar 2018Sold by developerOff-plan
AED 319,957AED 921 per sqft

Source: Dubai Land Department. Updated 14 August 2024.

Key facts

Type
Studio apartment
Size
347 sqft
Floor
4th of 6
Parking
G-74
Developer
MAG
Completed
2020
Service charge
AED 5,200 /yr
Last sold
AED 400K · August 2024
Building
MAG 555

About 408, MAG 555

408 is a studio of 347 sqft on the 4th floor of MAG 555, a 6-storey tower in Dubai South completed in 2020 by MAG. It last sold on 14 August 2024 for AED 400,000, or AED 1,151 per sqft, 14% above the AED 1,012 studios in the building were fetching at the time.

It has been rented since 2021 on 3 Ejari contracts. The current contract, renewed on 5 July 2023, is AED 21,500 a year: a gross yield of 5.4% on the 2024 price, before the service charge of about AED 5,200 a year.

Sales and rents for 408 over time

Sales
Unit 408, each saleTypical studio in MAG 555
300K400K2017202020232026Typical sale price by year: 2017 AED 351,070; 2018 AED 368,500; 2019 AED 374,555; 2020 AED 316,750; 2023 AED 312,500; 2024 AED 400,000; 2025 AED 450,000Sold by developer, March 2018: AED 319,957 (AED 921 per sqft)Sold, August 2024: AED 400,000 (AED 1,151 per sqft)

408 has sold twice; the dashed line is the studio median of each year in the building.

Rents
Unit 408, each contractTypical studio in MAG 555
20K40K20192021202320252027Typical rent by year: 2019 AED 25,000; 2020 AED 19,000; 2021 AED 18,000; 2022 AED 20,000; 2023 AED 25,000; 2024 AED 35,000; 2025 AED 39,500; 2026 AED 43,750New contract, March 2021: AED 16,000 a yearNew contract, July 2022: AED 21,500 a yearRenewal, July 2023: AED 21,500 a year

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

Studios in MAG 555, and where 408 sits

All 58 studios →

408 last sold in August 2024 at AED 1,151 per sqft, 14% above what studios in MAG 555 were fetching at the time (AED 1,012). Over the last 12 months studios sold for AED 480,000 to 540,000, around AED 1,435 per sqft, and rent for AED 35,000 to 45,000 a year. 408's AED 21,500 is at the bottom of that range.

Recent studio salesUnit no.Price (AED)Summary
16 Feb 2026540,000
30 Jan 2026480,000
3 Apr 2025300,000
3 Apr 2025450,000
2 studio sales in the last 12 months

MAG 555

Building

129 apartments, studios to 2-bed over 6 floors in Dubai South, completed in 2020 by MAG. 5 sold in the last 12 months.

Typical price per sqft
AED 1,315
Typical sale
AED 540K
Typical rent
AED 44K /yr
Typical yield
7.4%
MAG 555, Dubai South: prices, sales and rents →

Other units on the 4th floor

All 129 units in MAG 555
Value
4011-bedAED 490K · Nov 2024
402StudioAED 360K · Sep 2019
403StudioAED 480K · Jan 2026
4041-bedAED 335K · Dec 2022
4052-bedAED 595K · Oct 2019
4061-bedAED 325K · Dec 2022
407StudioAED 355K · Oct 2017
1–7 of 21

408, MAG 555 in numbers

  • Sold twice: first on 8 March 2018 for AED 319,957, last on 14 August 2024 for AED 400,000 (AED 1,151 per sqft).
  • Rented since March 2021 on 3 Ejari contracts, from AED 16,000 to AED 21,500 a year.
  • At AED 21,500 a year the gross yield on the 2024 price is 5.4%, before a service charge of about AED 5,200 a year (AED 14.96 per sqft).
  • Studios in MAG 555 sold for AED 480,000–540,000 in the 12 months to November 2026; the building's median across all types is AED 1,315 per sqft.

Source: Dubai Land Department. Updated 14 August 2024.

Questions about 408, MAG 555

What did unit 408 last sell for?

AED 400,000 on 14 August 2024: AED 1,151 per sqft for 347 sqft. The unit has 2 registered sales; the first was AED 319,957 in March 2018.

What is the rent for unit 408?

AED 21,500 a year on the contract renewed on 5 July 2023. The previous contract, from July 2022, was AED 21,500; the unit has been rented since March 2021.

How big is unit 408?

347 sqft (32.2 sqm): a studio on the 4th floor of a 6-storey tower completed in 2020.

What is unit 408 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Studios in MAG 555 sold for AED 480,000 to 540,000 in the last 12 months, around AED 1,435 per sqft.

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Mortgage on 408, MAG 555

Starts from the last sale price (AED 400K, 14 August 2024). Switch to today's estimate once you have unlocked it.
Price
AED 400,000
Deposit, UAE resident (20%)
AED 80,000
Deposit, non-resident (40%)
AED 160,000
Monthly over 25 years at 3.7%
AED 1,637

Plus AED 19,710 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →