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Studio · 447 sqftRitz Residence, International City Phase 2 & 3 · 7th floor · completed 2009

704, Ritz Residence

Sold prices and rental history: sold twice, last in January 2017, and rented continuously since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 704 · DLD and Ejari recordsUpdated 12 August 2024
Last soldAED 375K26 January 2017
Current rentAED 31K /yr12 August 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 704, Ritz Residence

What is 704 worth today?

Last sold for AED 375,000 in 2017

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12 Aug 2024RentedNew contract
AED 31,000/yr12 months · AED 69 per sqft
27 Jul 2021RentedNew contract
AED 22,000/yr12 months · AED 49 per sqft
1 Feb 2020RentedNew contract
AED 26,000/yr12 months · AED 58 per sqft
1 Feb 2019RentedRenewal
AED 33,000/yr12 months · AED 74 per sqft
26 Jan 2017SoldReady
AED 375,000AED 839 per sqft
23 Feb 2012Sold by developerReady
AED 400,000AED 895 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 12 August 2024.

Key facts

Type
Studio apartment
Size
447 sqft
Floor
7th of 7
Parking
B1-42
Developer
Alwifaq Investment Properties
Completed
2009
Service charge
AED 6,400 /yr
Last sold
AED 375K · January 2017
Building
Ritz Residence

About 704, Ritz Residence

704 is a studio of 447 sqft on the 7th 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 26 January 2017 for AED 375,000, or AED 839 per sqft, in line with the AED 839 studios in the building were fetching at the time.

It has been rented continuously since 2019 on 4 Ejari contracts. The current contract, signed on 12 August 2024, is AED 31,000 a year: a gross yield of 8.3% on the 2017 price, before the service charge of about AED 6,400 a year.

Sales and rents for 704 over time

Sales
Unit 704, 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, February 2012: AED 400,000 (AED 895 per sqft)Sold, January 2017: AED 375,000 (AED 839 per sqft)

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

Rents
Unit 704, 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 39,000Renewal, February 2019: AED 33,000 a yearNew contract, February 2020: AED 26,000 a yearNew contract, July 2021: AED 22,000 a yearNew contract, August 2024: AED 31,000 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 704 sits

All 72 studios →

704 last sold in January 2017 at AED 839 per sqft, in line with what studios in Ritz Residence were fetching at the time (AED 839). 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. 704's AED 31,000 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 7th floor

All 150 units in Ritz Residence
Value
701StudioAED 218K · Dec 2012
702StudioAED 300K · Jan 2014
703StudioAED 388K · Feb 2012
705StudioAED 370K · Aug 2024
706StudioAED 365K · Oct 2012
7071-bedAED 645K · Jul 2012
7081-bedAED 370K · Apr 2023
1–7 of 17

704, Ritz Residence in numbers

  • Sold twice: first on 23 February 2012 for AED 400,000, last on 26 January 2017 for AED 375,000 (AED 839 per sqft).
  • Rented since February 2019 on 4 Ejari contracts. The rent fell from AED 33,000 to AED 22,000 in 2021 and recovered to AED 31,000 by August 2024.
  • At AED 31,000 a year the gross yield on the 2017 price is 8.3%, before a service charge of about AED 6,400 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 12 August 2024.

Questions about 704, Ritz Residence

What did unit 704 last sell for?

AED 375,000 on 26 January 2017: AED 839 per sqft for 447 sqft. The unit has 2 registered sales; the first was AED 400,000 in February 2012.

What is the rent for unit 704?

AED 31,000 a year on the contract signed on 12 August 2024. The previous contract, from July 2021, was AED 22,000; the unit has been rented since February 2019.

How big is unit 704?

447 sqft (41.5 sqm): a studio on the 7th floor of a 7-storey tower completed in 2009.

What is unit 704 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 704, Ritz Residence

Starts from the last sale price (AED 375K, 26 January 2017). Switch to today's estimate once you have unlocked it.
Price
AED 375,000
Deposit, UAE resident (20%)
AED 75,000
Deposit, non-resident (40%)
AED 150,000
Monthly over 25 years at 3.7%
AED 1,534

Plus AED 18,660 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →