They were taken in by advertising and didn’t delve into the market

[sadiksojib35]

This mistake is one of the most common. Investors rush to make a deal because they know that competition is high and that good options are sold out very quickly. As a result, they do not delve into the market and take the first advertising offer, because it seems to be the easiest solution. But in the long run, it does not pay off.

In my practice, there was a case when an investor uk telegram database bought an apartment for 2.1 million dirhams (about $571 thousand) on the 35th floor of a building with the purpose of renovating it and selling it at a higher price. And later he found out that the same apartment on the 37th floor was bought for 1.6 million ($435 thousand). It turned out that apartments in this building are, in principle, cheaper than in the advertising offer that he found.

The investor spent too much money on his apartment for this market segment. It is unlikely that he will be able to resell it profitably.

It should be noted here that there are cases that fall outside the market value. This applies to exclusive projects and the last houses on prestigious sites. For example, an apartment in a house on Palm Jumeirah will be much more expensive than the same level, but in a regular area. In this case, the investment is justified, since the Palm is now almost completely built up, and such an offer is unlikely to appear again.