SUCCESS STORY: PURCHASING AN APARTMENT IN ADDRESS JBR WITH A PROFIT OF $1,526,000
John and Emma moved to Dubai to take advantage of tax benefits and increase the profitability of their business.
John (52 years old) and Emma (39 years old) are a married couple from London. John is a successful entrepreneur in the financial sector, and Emma is the founder of a design studio.
Like many residents of the UK, John and Emma moved to the UAE to optimize their tax expenses. Taxes in England often reached 50%, so the couple was looking for a peaceful “haven” where the tax burden on their business would be lower.
Moreover, the high standard of living, safety, and excellent infrastructure of Dubai made this decision even more attractive for the family.
Thus, they moved to Dubai in 2017 and rented apartments in Business Bay for the first four years because they wanted to save up for the luxury housing they had long dreamed of.
Challenges the clients faced
Planning to buy luxury housing, they understood that they were not ready to take on the risk of purchasing apartments worth over $1 million without professional support. Questions like which area to choose, how to analyze the market and property, which developer is reliable, and how to properly handle the paperwork prompted the couple to seek out a professional real estate team.
Searching for Solutions
What the Couple was Looking For
John and Emma were looking for luxury apartments with an area of more than 150 sq.m., near the sea. Their budget was $1.2 million. They wanted to live in a place with good restaurants and leisure spots.
When John and Emma contacted Livrichy, the company’s analysts conducted a detailed analysis of their request, budget, expectations regarding infrastructure, area, comfort, and finishing to offer the most profitable and suitable investment option.
“We Didn’t Know Where to Start and Which Property to Choose,” John Recalls. “Livrichy Analysts Helped Us Understand All the Details and Offered Several Interesting Options.”
The considered housing options
John and Emma explored over five different locations recommended by the team, including Dubai Marina and Palm Jumeirah, but none of them met their requirements for price and comfort.
After thorough searches, brokers proposed a property in the Jumeirah Beach Residence (JBR) area, which seemed the most promising and matched their criteria.
How did the characters learn about the company
Clients learned about the company Livrichy from their business partners in London, who have been investing in Dubai real estate with Livrichy brokers for the past two years.
“We decided to trust our colleagues’ advice and turned to Livrichy. It was the right decision,” says Emma.
The first consultation with agents and the proposed options
At the first meeting, our analyst presented John and Emma with 4 options: Serenia Residences, La Vie JBR, Lamtara MJL, and Address. After analyzing the area’s prospects and future price growth, they decided on an apartment at Address JBR.
What attracted them to the property
The apartment at Address JBR attracted John and Emma due to its location in the trendy JBR district, sea views, and prestigious building by Al Ain Holding. They chose a three-bedroom apartment spanning 172 sq.m on the 30th floor, promising excellent views and high comfort levels.
Why did they choose the JBR district? Primarily for direct access to one of Dubai’s best beaches.
The area boasts many restaurants, shops, and cafes, which were exactly what the clients were looking for.
Security was also a key factor, with the district being safe, equipped with extensive CCTV systems, and the building itself having 24-hour security.
Additionally, the building features one of the world’s tallest rooftop infinity pools.
Why did the couple choose Dubai specifically?
- One of the fastest-growing real estate markets in the world.
- Zero income tax and tax incentives for businesses.
- High level of safety and quality of life.
- Developed infrastructure of Dubai.
- Ease of obtaining residency visas.
purchase
Emma and John closed the deal in January 2021 for $1,117,500 (4,100,000 AED).
Shortly after the purchase, they moved into their new home.
The investment result
In October 2023, Livrichy agents found a buyer willing to purchase the apartment for $2,644,000 (9,700,000 AED)!
The net profit amounted to a record-breaking $1,526,000 (5,600,000 AED).
“We didn’t plan to sell our apartment, but when the Livrichy agent called and informed us that our property is now worth $1,526,000 more than what we paid for it, and that a buyer could be found quickly, we realized that such an opportunity might not come again and agreed to sell!”
Changes in life after buying property in Dubai
After earning an additional profit of $1,526,000, Emma and John invested the funds in expanding their business and purchasing a villa in Golf Place at Dubai Hills instead of the apartments they sold.
The property they acquired with Livrichy fully met their expectations.
“Thanks to the profit from resale, we invested the money into new business projects and bought new apartments with Livrichy,” says John. “Choose a real estate agency with a good reputation and personal recommendations carefully. Select properties meticulously and make decisions based on numbers and analytics rather than emotions. This way, your investment will definitely pay off. That’s how it was for us.”
