Despite the turmoil of the Dubai real estate market, many buyers are still hesitating about purchasing properties in the Emirate. Whilst many enquiries are being received, which shows an engagement of enthusiasm on the back of some positive reports coming out of the market, many buyers are still testing the water so to speak.
Prices having fallen by 50-60% in 18 months, many feel that the price curve has hit the bottom and the only way is up for property prices and this is the feeling many property owners have who are holding on for prices and not willing to sell prices below their own perceived value for their property causing frustration for all that are involved.
Property buyers often make many enquiries to agencies so called testing of the water then disappear off the radar after undertaking their own property pricing exercises to appear a few months later undergoing a similar enquiry to numerous agencies. My advice to buyers would be to engage the services of a reputable specialist agency who can give expert opinion in areas they specialise in be it JBR, Marina Arabian Ranches, Palm Jumeirah and the business district.
This philosophy has been considered by the property regulatory authorities RERA who are considering attaching licensing to agents who demonstrate an area of expertise rather than generalising in the whole of Dubai Real Estate. The English term “Jack of all trades, master of none ” might be appropriate by some agents who are looking for one off sales and may not be giving best advice to prospective purchasers.
Despite the turmoil of the Dubai real estate market, many buyers are still hesitating about purchasing properties in the Emirate. Whilst many enquiries are being received, which shows an engagement of enthusiasm on the back of some positive reports coming out of the market, many buyers are still testing the water so to speak.
Prices having fallen by 50-60% in 18 months, many feel that the price curve has hit the bottom and the only way is up for property prices and this is the feeling many property owners have who are holding on for prices and not willing to sell prices below their own perceived value for their property causing frustration for all that are involved.
Property buyers often make many enquiries to agencies so called testing of the water then disappear off the radar after undertaking their own property pricing exercises to appear a few months later undergoing a similar enquiry to numerous agencies. My advice to buyers would be to engage the services of a reputable specialist agency who can give expert opinion in areas they specialise in be it JBR, Marina Arabian Ranches, Palm Jumeirah and the business district.
This philosophy has been considered by the property regulatory authorities RERA who are considering attaching licensing to agents who demonstrate an area of expertise rather than generalising in the whole of Dubai Real Estate. The English term “Jack of all trades, master of none ” might be appropriate by some agents who are looking for one off sales and may not be giving best advice to prospective purchasers. real estate agency in Dubai