Today we suggest looking at this issue from a different perspective: let’s look at the benefits of working with an agency when buying and selling real estate in Dubai.
Specialists from specialized agencies undergo professional training, have an excellent understanding of real estate market conditions, and consider the characteristics of each location. For an outsider, especially a foreigner, it is difficult to quickly understand all the intricacies of this process.
The real estate market in the UAE is subject to strict rules and collective bargaining measures. DLD (Land Department) and RERA (Dubai Real Estate Regulatory Authority) have established rules for purchase and sale transactions and monitor this process. In addition, brokers in Dubai are only allowed to work with a license, which must be renewed every year by passing a government qualification exam with a score of at least 85 points out of 100.
A real estate agency significantly reduces the client’s time and physical effort, both when searching for a suitable property and when concluding a transaction.
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The agency has an extensive database with current offers on the market. If the client contacts the developer directly, he risks not getting such a variety of options. The developer, naturally, is interested in selling his properties and will not recommend competitors’ projects.
The agency will provide support to the client at all stages of the transaction, including negotiations. In case of disputes, the agency will always defend the interests and rights of the client.
Overall forecasts are extremely optimistic: economic growth in the UAE is expected to be 3.9%, with tourism, real estate, and hospitality remaining the key sectors for profitability.
Together with convenient installment plans, the introduction of the Golden Visa, the absence of taxes, and a variety of offers, the Dubai real estate market remains one of the most attractive in the world.
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Analysts suggest that by the end of this year, Dubai will demonstrate the highest rate of growth in real estate prices in the world, surpassing even Paris and Miami.
In light of these trends, 1 and 2-bedroom apartments remain the most profitable. They provide the opportunity to regularly relax by the sea without finding a hotel. Buying for investment purposes also clearly benefits from the cost of apartments, which are lower than apartments and other forms of housing, while providing well-designed infrastructure, including parking, swimming pools, fitness centers, etc. Many apartments, such as the Binghatti Onyx, allow pets.
Choosing a Reliable Real Estate Agency:
Make sure that you have all the necessary documents for the agency’s activities – licenses and registrations with RERA.
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We hope that our thoughts and advice were useful – or will be so in the future. Be sure to check out our other articles for more valuable tips on investing in real estate and living in Dubai.
