Choosing a property in Dubai that promises high returns is no easy feat. Behind each project lie captivating renders depicting a luxurious lifestyle and promising prospects. However, many agents remain silent on crucial aspects. Let’s explore how to ensure successful real estate investments in Dubai.
In the realm of real estate, glossy advertising images often play a pivotal role. Yet, many overlook the substantial gap between these visuals and the actual outcome. New residential complexes in Dubai don’t always live up to their renders, leading to potential disappointment. Examining other project aspects and referencing the developer’s past work experience is essential.
Opting for an apartment from a renowned UAE developer or a widely acclaimed developer does not automatically guarantee substantial profits. Some projects sell out so swiftly that advertising campaigns barely kick-off. Blindly trusting advertisements is a mistake; considering the developer’s reputation and assessing the risks of inconsistency or subpar construction quality is crucial.
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The average studio price in Dubai is $175,000, so an offer of $120,000 should raise alarms. Additional expenses, like post-construction parking space purchases, can diminish transaction profitability.
Discussing investment profitability necessitates understanding the foundation of promises. Instances arise where agents claim an astounding 400% profit in three years.
In the primary market (off-plan), agents receive commissions from developers, with varying rates and payment terms. Some developers offer elevated commissions or loyalty programs. Questioning the agent about their motivation and market understanding is vital.
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In the secondary market, sellers only sometimes cover agent commissions, leading to added expenses for buyers. Upholding transparency, we disclose clear commissions to avoid hidden markups.
Brokers significantly impact investment success, emphasizing the importance of knowing your collaborator. Inquire about the agent’s experience, real estate investments, market knowledge, and investment strategies. Paying attention to your intuition during interactions is equally crucial.
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Choosing a broker is a deliberate decision, as they serve as your guide in Dubai’s real estate landscape.
