SUCCESS STORY: BUYING AN APARTMENT IN THE PARAGON’S ROI OF 27%

Maxim and his wife Anna have long dreamed of their own place in Dubai.

After 10 years of regular vacation trips to this city, they fell in love with its atmosphere. The initial goal was to buy a property to move to, but after the successful experience of their friends
Our heroes Maxim (38 years old) and his wife Anna (36 years old) are a married couple from Ukraine. Maxim works in IT, and Anna is a marketing specialist
in a large international company based in the UAE.

They are raising two children: Sasha (12 years old) and Lisa (8 years old). The family has always aspired to a better quality of life and wanted to move to a country with a warmer climate.
to a country with a warmer climate.

“My wife and I have wanted our own place in Dubai for a long time,” says Maxim. “We’ve been going there on vacation for 10 years and fell in love with the city. We wanted to buy a place to move to, but when our friends bought an apartment and six months later sold it with an income of $42,000, we realized that buying an apartment for ourselves is not the only option.”

Challenges and objectives

Frequent trips to Dubai for work and leisure, difficulties with visas for the whole family and a lack of knowledge of the local real estate market – all this prompted the heroes to turn to Livrichy Agency. Maxim and Anna were afraid of making the wrong choice and losing money.

Searching for solutions

When Maxim and Anna approached Livrichy, our analysts conducted a detailed analysis of the couple’s requests in order to offer the most profitable and suitable investment option for their expectations.

“We had doubts for a long time, we didn’t know which property to choose, and we were afraid of missing out,” Maxim recalls. “We analyzed the market for a long time with our broker Yaroslava, and in the end we settled on The Paragon in Business Bay.”

Maxim and Anna were looking at several real estate options
in different neighborhoods in Dubai. But almost everything did not fit their requirements in terms of price or location. Brokers offered options in the area of Dubai Marina and JVC, but it was the object in Business Bay seemed to them comfortable and profitable, and our analyst supported their decision with very promising analytics, the infrastructure around, the dynamics of price growth in neighboring houses and complexes promised good returns.
and complexes promised good returns.

How the heroes found out about the company

The clients learned about Livrichy from their friends who had
had already had a successful experience of investing in two one-bedroom properties in the Dubai Hills area.

“Our friends recommended Livrichy because they themselves had successfully invested in real estate with their help. We trusted their experience and have not regretted it,” says Anna.

What were the heroes attracted to the facility

The apartment in The Paragon attracted Maxim and Anna first and foremost The Paragon apartment attracted Maxim and Anna first of all because of its location (Business Bay district – the area is characterized by transport accessibility and proximity to major attractions), proximity to Anna’s office and, most importantly, the prospects of property value growth of at least 10%. They chose a one-bedroom apartment of 61.5 sq.m. on the 10th floor. the option of investing money for resale.

Why did our heroes choose Dubai, especially considering that they have two children?

• Fast-growing real estate market.
• Tax benefits and no income tax.
• Schools and colleges from the best
• European High standard of living and security
• Excellent infrastructure and warm climate
• Possibility of obtaining a resident visa.

Result of the investment

Maxim and Anna finalized the deal in August 2022 for 990,809 AED (~271,500$). Land tax in DLD was paid by the developer, and the whole deal was turnkey in a week. After the purchase, they kept an eye on the market, waiting for the right time to sell.

“The deal was closed very quickly, in five days. And then we just had to wait for the right moment, when the apartment would go up in price,” Maxim recalls.

“The 4% land tax was paid by the developer, it was a big plus and a serious saving.”

How life has changed after buying real estate in Dubai

After 10 months, when Livrichy’s agents found a buyer willing to buy the apartment for AED 1,260,000 (~$345,000), Maxim and Anna decided to sell. The net profit was AED 269,191 (~$73,750), giving them an ROI of 27%.

“That moment came sooner than we thought – 10 months later, when the agents dialed us themselves and told us there was a buyer who was ready to buy our unit for AED 1,260,000,” shares Maxim. “The arithmetic turned out to be very attractive. The net profit from the resale is $73,750!”

Results of cooperation

Having earned an additional 73 thousand dollars, Maxim and Anna were able to buy a larger apartment and are already living in Dubai. The investment has fully paid for itself, and the experience of working with Livrichy has been very positive and profitable.

“Thanks to the extra profit, we bought an apartment 35 square meters larger than we had planned, and we have been living in Dubai since 2023” – says Anna. “Choose the right team to invest with and don’t be afraid to take risks. The Dubai market is only a matter of how much you will earn, not how much you will lose.”