"They were essentially selling a dream - sky pools, yachts, life by the sea."
The Dubai real estate market attracts investors with its rapid development and the prospect of high returns. This is true, but there are exceptions. According to licensed real estate agent from Estonia, Igor King, sometimes buyers approach him after making decisions without consulting an experienced specialist and face unpleasant consequences. All the cases King shares are taken from real practice and involve clients from Estonia.
Mistake #1: Doubtful Developer
"Premium developers do not need to artificially stimulate demand. If the project is of high quality, there is a queue for it," comments King.
According to him, the post-handover scheme is most often a marketing tool rather than a sign of care for the buyer.
Location - Promising, but There Are Nuances
The project is located on the Maritime City peninsula - an area where many premium complexes are being built. However, among quality projects, there are also more dubious ones.
At the launch of sales, the city was filled with advertising billboards depicting two luxurious towers with sea views connected by a rooftop pool. The same layout was presented in the sales office.
"They were essentially selling a dream - sky pools, yachts, life by the sea," describes King. Agencies filmed dozens of videos supporting this picture.
The advertising created the impression that the best apartments at the corners of the two buildings had direct sea views and yachts passing by the windows. Accordingly, their price was higher than those facing the windows of the neighboring building.
Such billboards were displayed by the developer on the streets and also posted online at the project launch.
When most apartments had already been sold, a detail emerged that some buyers were unaware of and many still do not know. The developer changed the advertising materials and the layout of the project. It was not just the number of boats in the pictures that changed - a third tower appeared.
"These are not three separate buildings, but a single project where all the towers are interconnected - both by parking and by the pool," explains King.
According to him, an unpleasant surprise awaits those who purchased an apartment in the second tower, expecting an open sea view. In reality, the third building will be constructed right in front of their windows. The view for which they overpaid will be replaced by a view of the windows of the neighboring building.
Potential Loss - Up to 150,000 Euros
The price difference between apartments with sea views and those facing the windows of neighboring buildings in Dubai is significant. According to King, with a similar layout and floor, a sea view increases the property value by 20-30%.
"Such cases are not the norm, as hundreds of projects are launched annually in Dubai, and most developers operate in good faith," notes King.
Nevertheless, according to him, for safe investments, it is essential to choose experienced specialists who know the market, without trusting internet advertisements and pictures on WhatsApp. It is important to collaborate with a licensed agent with whom long-term working relationships can be established, rather than limiting oneself to a one-time transaction.
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