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2-bed · 1,416 sqftOia Residence, Uptown Motorcity · 3rd floor · completed 2018

308, Oia Residence

Sold prices and rental history: sold once, by the developer in November 2022, and rented since 2019. Every registered sale and contract is below; today's estimate is free after a one-time verification.

Unit 308 · DLD and Ejari recordsUpdated 7 April 2024
Last soldAED 1.1M11 November 2022
Current rentAED 120K /yr7 April 2024
Estimated yieldfree after one verification
Today's valuefree after one verification

Property timeline for 308, Oia Residence

What is 308 worth today?

Last sold for AED 1,100,000 in 2022

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7 Apr 2024RentedNew contract
AED 120,000/yr12 months · AED 84 per sqft
6 Feb 2023RentedNew contract
AED 105,000/yr12 months · AED 74 per sqft
11 Nov 2022Sold by developerReady
AED 1,100,000AED 776 per sqft
3 Jul 2019RentedNew contract
AED 105,000/yr12 months · AED 74 per sqft

Source: YallaValue analysis of Dubai Land Department records. Updated 7 April 2024.

Key facts

Type
2-bed apartment
Size
1,416 sqft
Floor
3rd of 5
Parking
B-355
Developer
Union Properties
Completed
2018
Service charge
AED 20,900 /yr
Last sold
AED 1.1M · November 2022
Building
Oia Residence

About 308, Oia Residence

308 is a two-bedroom apartment of 1,416 sqft on the 3rd floor of Oia Residence, a 5-storey tower in Uptown Motorcity completed in 2018 by Union Properties. The developer sold it on 11 November 2022 for AED 1,100,000, or AED 776 per sqft, in line with the AED 779 two-beds in the building were fetching at the time.

It has been rented since 2019 on 3 Ejari contracts. The current contract, signed on 7 April 2024, is AED 120,000 a year: a gross yield of 10.9% on the 2022 price, before the service charge of about AED 20,900 a year.

Sales and rents for 308 over time

Sales
Unit 308, each saleTypical two-bed in Oia Residence
1M1.5M2M2017202020232026Typical sale price by year: 2017 AED 1,685,316; 2020 AED 1,326,474; 2021 AED 1,463,156; 2022 AED 1,275,000; 2023 AED 1,287,000; 2024 AED 1,800,000; 2025 AED 1,865,000Sold by developer, November 2022: AED 1,100,000 (AED 776 per sqft)

308 has sold once; the dashed line is the two-bed median of each year in the building.

Rents
Unit 308, each contractTypical two-bed in Oia Residence
100K120K20182020202220242026Typical rent by year: 2018 AED 117,000; 2019 AED 115,000; 2020 AED 107,100; 2021 AED 92,308; 2022 AED 95,000; 2023 AED 105,000; 2024 AED 119,358; 2025 AED 127,500New contract, July 2019: AED 105,000 a yearNew contract, February 2023: AED 105,000 a yearNew contract, April 2024: AED 120,000 a year

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

2-beds in Oia Residence, and where 308 sits

All 125 2-beds →

308 last sold in November 2022 at AED 776 per sqft, in line with what two-beds in Oia Residence were fetching at the time (AED 779). Over the last 12 months two-beds sold for AED 1,488,000 to 2,150,000, around AED 1,234 per sqft, and rent for AED 124,574 to 130,000 a year. 308's AED 120,000 is at the bottom of that range.

Recent 2-bed salesUnit no.Price (AED)Summary
13 Feb 20262,150,000
6 Feb 20261,488,000
9 Dec 20252,100,000
17 Jul 20251,850,000
4 2-bed sales in the last 12 months

Oia Residence

Building

269 apartments, 1-bed to 4-bed over 5 floors in Uptown Motorcity, completed in 2018 by Union Properties. 15 sold in the last 12 months.

Typical price per sqft
AED 1,050 Down 4.5%
Typical sale
AED 2.12M
Typical rent
AED 127K /yr
Typical yield
8.7%
Oia Residence, Uptown Motorcity: prices, sales and rents →

Other units on the 3rd floor

All 269 units in Oia Residence
Value
3012-bedAED 1.65M · Aug 2021
3022-bedAED 1.1M · Nov 2022
3032-bedAED 1.5M · Sep 2024
3042-bedAED 1.24M · Aug 2021
3052-bedAED 1.51M · Nov 2021
3062-bedAED 587K · Nov 2020
3072-bedAED 1.3M · Jun 2023
1–7 of 53

308, Oia Residence in numbers

  • Sold once: by Union Properties on 11 November 2022 for AED 1,100,000, or AED 776 per sqft.
  • Rented since July 2019 on 3 Ejari contracts, from AED 105,000 to AED 120,000 a year.
  • At AED 120,000 a year the gross yield on the 2022 price is 10.9%, before a service charge of about AED 20,900 a year (AED 14.76 per sqft).
  • Two-beds in Oia Residence sold for AED 1,488,000–2,150,000 in the 12 months to November 2026; the building's median across all types is AED 1,050 per sqft.

Source: YallaValue analysis of Dubai Land Department records. Updated 7 April 2024.

Questions about 308, Oia Residence

What did unit 308 last sell for?

AED 1,100,000 on 11 November 2022, sold by the developer: AED 776 per sqft for 1,416 sqft. It is the only registered sale of the unit.

What is the rent for unit 308?

AED 120,000 a year on the contract signed on 7 April 2024. The previous contract, from February 2023, was AED 105,000; the unit has been rented since July 2019.

How big is unit 308?

1,416 sqft (131.6 sqm): a two-bedroom apartment on the 3rd floor of a 5-storey tower completed in 2018.

What is unit 308 worth today?

The YallaValue estimate is updated daily and free after a one-time verification by WhatsApp, email or Google. Two-beds in Oia Residence sold for AED 1,488,000 to 2,150,000 in the last 12 months, around AED 1,234 per sqft.

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Mortgage on 308, Oia Residence

Starts from the last sale price (AED 1.1M, 11 November 2022). Switch to today's estimate once you have unlocked it.
Price
AED 1,100,000
Deposit, UAE resident (20%)
AED 220,000
Deposit, non-resident (40%)
AED 440,000
Monthly over 25 years at 3.7%
AED 4,500

Plus AED 51,210 of fees: the 4% Dubai Land Department transfer fee, registration and the trustee. Full mortgage calculator →