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Studio · 411 sqftRitz Residence, International City Phase 2 & 3 · 3rd floor · completed 2009

324, Ritz Residence

Sold prices and rental history: sold once, by the developer in December 2011, and rented continuously since 2016. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 324 · DLD and Ejari recordsUpdated 20 September 2024
Last soldAED 388K29 December 2011
Current rentAED 33K /yr20 September 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 324, Ritz Residence

What is 324 worth today?

Last sold for AED 388,000 in 2011

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20 Sep 2024RentedNew contract
AED 33,000/yr12 months · AED 80 per sqft
25 May 2023RentedNew contract
AED 27,000/yr12 months · AED 66 per sqft
19 Nov 2022RentedNew contract
AED 25,000/yr12 months · AED 61 per sqft
6 Aug 2020RentedNew contract
AED 20,000/yr12 months · AED 49 per sqft
27 Mar 2019RentedNew contract
AED 27,500/yr12 months · AED 67 per sqft
15 Dec 2017RentedNew contract
AED 33,000/yr12 months · AED 81 per sqft
21 May 2016RentedNew contract
AED 32,000/yr12 months · AED 78 per sqft
29 Dec 2011Sold by developerReady
AED 388,000AED 944 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 20 September 2024.

Key facts

Type
Studio apartment
Size
411 sqft
Floor
3rd of 7
Parking
B2-74
Developer
Alwifaq Investment Properties
Completed
2009
Service charge
AED 5,900 /yr
Last sold
AED 388K · December 2011
Building
Ritz Residence

About 324, Ritz Residence

324 is a studio of 411 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 29 December 2011 for AED 388,000, or AED 944 per sqft, 8% above the AED 877 studios in the building were fetching at the time.

It has been rented continuously since 2016 on 7 Ejari contracts. The current contract, signed on 20 September 2024, is AED 33,000 a year: a gross yield of 8.5% on the 2011 price, before the service charge of about AED 5,900 a year.

Sales and rents for 324 over time

Sales
Unit 324, 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 347,440; 2015 AED 420,000; 2016 AED 370,000; 2017 AED 372,500; 2018 AED 330,000; 2022 AED 245,000; 2023 AED 275,000; 2024 AED 352,500Sold by developer, December 2011: AED 388,000 (AED 944 per sqft)

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

Rents
Unit 324, each contractTypical studio in Ritz Residence
20K30K40K2012201620202024Typical rent by year: 2012 AED 20,500; 2013 AED 26,000; 2014 AED 33,500; 2015 AED 38,000; 2016 AED 39,783; 2017 AED 36,000; 2018 AED 30,000; 2019 AED 26,000; 2020 AED 23,000; 2021 AED 20,000; 2022 AED 22,000; 2023 AED 25,000; 2024 AED 30,000; 2025 AED 33,500; 2026 AED 39,000New contract, May 2016: AED 32,000 a yearNew contract, December 2017: AED 33,000 a yearNew contract, March 2019: AED 27,500 a yearNew contract, August 2020: AED 20,000 a yearNew contract, November 2022: AED 25,000 a yearNew contract, May 2023: AED 27,000 a yearNew contract, September 2024: AED 33,000 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 324 sits

All 72 studios →

324 last sold in December 2011 at AED 944 per sqft, 8% above what studios in Ritz Residence were fetching at the time (AED 877). Over the last 12 months studios sold for AED 465,000, around AED 749 per sqft, and rent for AED 26,400 to 60,000 a year. 324's AED 33,000 is in the lower half of that range.

Recent studio salesUnit no.Price (AED)Summary
22 Apr 2025367,000
24 Dec 2024415,000
24 Dec 2024350,000
20 Dec 2024410,000
1 studio sale 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. 2 sold in the last 12 months.

Typical price per sqft
AED 794
Typical sale
AED 565K
Typical rent
AED 46K /yr
Typical yield
8.6%
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

324, Ritz Residence in numbers

  • Sold once: by Alwifaq Investment Properties on 29 December 2011 for AED 388,000, or AED 944 per sqft.
  • Rented since May 2016 on 7 Ejari contracts. The rent fell from AED 32,000 to AED 20,000 in 2020 and recovered to AED 33,000 by September 2024.
  • At AED 33,000 a year the gross yield on the 2011 price is 8.5%, before a service charge of about AED 5,900 a year (AED 14.31 per sqft).
  • Studios in Ritz Residence sold for AED 465,000–465,000 in the 12 months to November 2026; the building's median across all types is AED 794 per sqft.

Source: YallaValue analysis of Dubai Land Department records. Updated 20 September 2024.

Questions about 324, Ritz Residence

What did unit 324 last sell for?

AED 388,000 on 29 December 2011, sold by the developer: AED 944 per sqft for 411 sqft. It is the only registered sale of the unit.

What is the rent for unit 324?

AED 33,000 a year on the contract signed on 20 September 2024. The previous contract, from May 2023, was AED 27,000; the unit has been rented since May 2016.

How big is unit 324?

411 sqft (38.2 sqm): a studio on the 3rd floor of a 7-storey tower completed in 2009.

What is unit 324 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 465,000 to 465,000 in the last 12 months, around AED 749 per sqft.

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Mortgage on 324, Ritz Residence

Starts from the last sale price (AED 388K, 29 December 2011). 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 AED 19,206 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →