Podcast: Vse v sile.
Alexander Rodionov invited me to his podcast «Vse v sile» to talk about how apartment renovation in Dubai works from the inside. Forty minutes without small talk: the economics, the budgets, the brokers and the mistakes of four years.
The main idea
In Dubai every buyer of an apartment is an investor, even when buying for themselves. That is why design here has to be counted in money: about ten percent of the property value invested in the interior adds up to twenty percent to its price, and on expensive properties three to five percent is enough.
This is a benchmark from practice, not a guarantee. The outcome depends on the location, the condition of the property, the purchase price and how far the apartment lags behind the best offers in its building or area. In my practice, an investor in apartments earns about 15% on average, with 20% as the target.
What we talked about
- The economics of renovation: invest ten percent, get twenty.
- Who is who in a deal: the investor, the broker and the builder.
- Money: budgets of one to three million AED and a fee stated openly.
- Why the investor should earn the most, and how everyone still wins.
- January 2022, the move and the rule of five meetings a week.
- Four years of mistakes, including a floor we broke through.