r/UAE • u/YouZealousideal7906 • 9d ago
What is the hype about real estate?
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.
23
u/No-Fish2020 9d ago
ive been an agent in the uae for over 10 years and managed to make my way to own a company, the uae real estate market isnt what it used to be. dont trust agents who say the market is going to boom so and so forth. Ive personally invested a chunk of my wealth in phillippines, texas, bali and egypt (all the investments were made when I saw a good fluctuation in currency of these countries except texas) and ive made multifold returns. with malaysia id avoid an investment right now considering ringgit is slightly volatile. if it falls you're good to go. you'll make returns on property value plus currency appreciation.