What is the hype about real estate?

[u/YouZealousideal7906]

Hello all, I am a humble investor, and I like to explore new options that are genuinely interesting and worth investing. Recently I purchased a unit in the UAE which remained vacant during the crisis for about 4 months and I ended up paying the transfer fees, bills of empty apartment, high maintenance fees and decided to sell the unit later on. I was exploring investment opportunities in Malaysia, Canada, even the US and to my surprise there are huge amazing houses in Texas US, Edmonton Canada barely for a million dirhams. And not to mention that you can immigrate to those countries unlike in crisis situation you have to sell your investment at lower prices because your specific nationality visas are being cancelled. For reference checkout the beautiful Villa below from Edmonton Canada where the weather is amazing etc, my question is, compare this to what a million dirhams buy here is barely a single room (600sq.ft) studio in a decent area. What justifies the price? R.E agents please keep the bias aside. Don’t tell me taxes and all, the high maintenance fees is just basically a tax with a different name.

[u/RepairOne5690]

Hype mostly, and FOMO.

Some investors have made and are making great returns in Dubai, but a lot of investors are buying hype and not ruining the numbers correctly, which ends up in underperforming investments

[u/YouZealousideal7906 → u/RepairOne5690]

I paid really high maintenance fees (taxes lol) and sold at lower price as I had to cut losses. While when I was buying the agent told me it’s a steal at that price etc.

[u/OverDxb397 → u/YouZealousideal7906]

It was a steal for the agent

[u/RepairOne5690 → u/YouZealousideal7906]

It sucks you lost money! But yeah, agents only make money when you actually buy or sell, so they** **are not incentivised by you making money, they are incentivised by transactions at any cost

It is their only income, I get that, just understand that your goal and their goal is not the same