I was at the Emaar launch for 18 Burj Dubai Boulevard. The cheapest launch price was AED 2M for a 411 Sft apartment with views of SZR. This translates to about 5000/Sft which is about the standard price in Downtown Burj Dubai. Good for flipping.....heck no!
Always calculate before you spend. Don't just jump on the idea that there is a pre-launch and hence its a good opportunity. If a developer is selling you an apartment at prelaunch for say 3000/Sft and launches it officially with a price of 3500/Sft; don't feel happy that you payed 500/Sft less; rather feel sad that you potentially paid 500/Sft more since the actual sustainable price would not even have been 2500/Sft.
Smart investments people, make smart investments. If you want to flip, buy cheap properties, properties that everyone can afford. Thats the key to the game!
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