How to buy a $716,000 apartment and earn money with only $400,000

This is the story of how Eugene quickly made his first real estate profit in Dubai, earning around 10%.

Eugene sought help buying real estate in Dubai with a budget of $400,000 for the purpose of making a profit.

The agency suggested buying an apartment for resale.

The neighborhood, its infrastructure, and the demand for real estate among foreigners in recent months and years are crucial for successful real estate resale.

Therefore, the Dubai Marina area was chosen for resale, as it is considered “the perfect place for real estate resale, as prices increase faster than in many other locations.”

The apartment was purchased for $716,846, but only a 10% down payment of $71,684 was required. At this stage, a preliminary ownership contract (SPA) was signed.

An additional 45% of the amount – $322,580 – could be paid within a year. After that, UAE legislation allows for finding a new owner for the apartment.

Thus, it was necessary to pay $394,264 or 1,448,133 dirhams for resale.

The profit from selling the apartment in Dubai Marina can be up to 10%. Eugene paid off the installments and sold the property for $789,000 (2,896,275 dirhams), earning $72,154 in six months (265,022 dirhams).

Website: citystar-dubai.com

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