Buying an apartment in Address JBR with a profit of $1,526,000
A brief description of the purpose of the purchase
John and Emma moved to Dubai to enjoy tax benefits and increase the profitability of their business.
Initially, their goal was to buy real estate for living, not for investment.
A story about heroes
John (52) and Emma (39) are a married couple from London. John is a successful entrepreneur from the financial sector and Emma is the founder of a design studio.
Like many UK residents, John and Emma moved to the UAE in order to optimize tax costs. Taxes in England were often as high as 50%, so the couple were looking for a safe haven where the tax burden on business would be lower.
In addition, Dubai’s high standard of living, security and excellent infrastructure, made this decision even more attractive to families.
So they moved to Dubai in 2017 and spent the first 4 years renting apartments in Business Bay because they wanted to save up for the luxury home they had long dreamed of.
Difficulties encountered by clients
When planning to buy elite housing, they realized that they were not prepared to take the risks of buying an apartment worth more than $1 million without professional support. Which district to choose, how to analyze the market and the object, which developer is reliable, how to properly execute the documents. All these questions prompted the couple to search for a professional real estate selection team.
Finding a solution
What was the couple looking for?
They were looking for luxury apartments with an area of more than 150 square meters, near the sea. The budget they were willing to allocate was 1.2 million dollars. They wanted to live in a place with good restaurants and places to relax.
When John and Emma approached Livrichy, the company’s analysts conducted a detailed analysis of their request, budget, expectations on infrastructure, space, comfort, and finishes to offer the best possible investment option that would meet their expectations.
“We didn’t know where to start or which property to choose,” John recalls. “Livrichy’s analysts helped us work out all the details and suggested some interesting options.”
Housing options under consideration
John and Emma received more than five different locations from the team, including Dubai Marina and Palm Jumeirah, but none of them suited their requirements in terms of price and comfort.
After a thorough search, the brokers suggested a property in the Jumeirah Beach Residence (JBR) area that seemed the most promising and met their criteria.
How customers found out about the company
The clients came to know about Livrichy from their business partners from London who have been investing in Dubai real estate with Livrichy brokers, for the past 2 years.
“We decided to trust the advice of our colleagues and approached Livrichy. It was the right decision,” says Emma.
First consultation with agents and 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 prospects of the area and the growth in value over the next few years, they decided on the apartments in Address JBR.
The apartment at Address JBR attracted John and Emma with its location in the trendy JBR neighborhood, sea views and prestigious building by Al Ain Holding. They chose a 172 sqm two-bedroom apartment on the 30th floor, which promised great views and a high level of comfort.
Why did you choose the JBR neighborhood?
Primarily because of the direct access to one of the best beaches in Dubai.
The neighborhood is full of restaurants, stores and cafes, something the customers wanted.
Security. The neighborhood is safe, with plenty of CCTV, and the house itself has 24-hour security.
The building features one of the highest panoramic swimming pools in the world
Why did the couple choose Dubai?
- One of the fastest growing real estate markets in the world.
- Zero income tax and tax incentives for business.
- High level of security and standard of living
- Developed infrastructure of Dubai.
- Ease of obtaining a resident visa
Why did the couple choose Dubai?
Emma and John closed the deal in January 2021 for $1,117,500 (AED 4,100,000).
After the purchase, they moved into their new home almost immediately.
Result of the investment
In October 2023, Livrichy agents found a buyer willing to purchase the condo for $2,644,000 (9,700,000 AED)!
Net income was a record $1,526,000 (AED 5,600,000).
“We had no plans to sell our apartment, but when Livrichy’s agent called and told us that our property was now worth $1,526,000 more than the price we paid and a buyer could be found quickly, we realized that we might not get that chance again and agreed to sell!”
Life changes after buying real estate in Dubai
After making an additional $1,526,000 profit, Emma and John invested the funds to expand the business and purchase a Golf Place villa in Dubai Hills to replace the apartments they sold.
The property the couple purchased with Livrichy fully met their expectations.
“Thanks to resale profits, we’ve invested money in new business projects and bought new apartments with Livrichy,” says John. “Carefully choose a real estate agency with a good reputation and personal references. Carefully select real estate and make decisions not on emotion, but based on figures and analytics. Then the investment will definitely pay for itself. This was the case with us.”
