Is 11% below asking reasonable after 28 days for a Dubai multifamily?

G

green_garden

Property investor
Eleven per cent is the number I am struggling with. The small Dubai multifamily is priced at AED 1,707,000, has been marketed for 28 days and appears to require updating, but active listings nearby do not show what buyers have recently paid.

I could support the offer with financing evidence and flexibility over completion. My preference would be to accept ordinary cosmetic work as-is while retaining inspection protection for costly defects. If something substantial appears, I would want the option of a repair credit or a price discussion rather than arguing over every minor item from the outset.

Is an 11% opening likely to be taken seriously on that basis? I would also like to know which completed transactions, occupancy details or income information would be most useful before setting the figure, and which financing or valuation conditions others would keep in place.
 
An 11% opening discount is not automatically antagonistic if the offer is otherwise credible. Keep the explanation short: limited completed-sale evidence, updating costs and uncertainty around major defects. Provide financing proof, offer the flexible completion date, and give a clear but reasonable response deadline.

I would retain financing, valuation and inspection protection. A low price paired with waived safeguards could expose you to far more than the discount saves.
 
You have checked the marketing period and nearby listings, but the current occupancy and income are still unclear. Those facts could change the answer more than the 28 days alone.

I would first ask which units are occupied, what income is currently being received and whether any vacant space needs work before it can be used. Then request completed multifamily transactions that support the seller’s figure. Once those points are clearer, you can decide whether the 11% reduction reflects the property’s finances or is mainly an allowance for cosmetic updating. The seller’s preferred completion timing may also reveal whether flexibility has real value.
 
The completed comparables are the weak point. Ask the agent to support the asking price with actual completed transactions rather than more active listings, then explain that your offer reflects the evidence currently available.

Also clarify what happens if the lender’s valuation is below the agreed price. Do not casually promise to cover an unlimited appraisal gap. The financing, valuation and deposit wording should be checked for the specific Dubai transaction before you sign anything.
 
I would make the offer cosmetically as-is but subject to an inspection for expensive problems. That signals you are not planning to renegotiate over paint, fittings or every small maintenance item.

If the inspection finds something substantial, the choices could be withdrawal, a repair credit or a revised price. Just avoid demanding the full 11% discount now and implying that another routine discount will follow after inspection.
 
That distinction is important. A seller may accept a lower number if the buyer appears unlikely to reopen every issue, but “as-is” should not become a waiver of unknown major defects.

The appraisal gap also needs a defined limit. Decide before offering how much extra cash, if any, you could contribute if valuation comes in low. Otherwise pressure to protect the deposit can turn a disciplined offer into an expensive one.
 
My sequence would be: request completed-sale support and the property’s occupancy/income details, establish your maximum price and appraisal-gap contribution, then submit the 11%-below offer with financing proof, flexible completion and a clear expiry. State that visible cosmetic updating is already reflected in the price, while inspection protection remains for significant unknowns. If rejected, ask whether the problem is price, timing or terms before increasing anything.
 
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