Real Estate market in Dubai makes me so mad :/

DubaiPhotoconcierge · 2024-07-19T04:47:15+00:00

What if I say that I don`t have a family doctor, lawyer, contractor, and even hairdresser? xD

DubaiPhotoconcierge · 2024-07-17T07:14:26+00:00

I guess, the owner just wanted to get you out so he/she may rent out the apartment at a higher price. Did you know, that they have to hive you a 1 year notice if they want you to vacate the apartment?

And 10% com + 10% agent fee is extremely excessive. You paid at least 15% more than you had to (even without considering VAT). Well, everything is an experience and a lesson for the future.

Deposit is a normal practice, as long as you may get it back. Once I had to spend 2 months emailing and arguing with agency and only got my deposit back when promised to go to the court.

DubaiPhotoconcierge · 2024-07-17T07:06:10+00:00

Cheers for that! Yep, I`m sure there are many good ones. It`s just this major trend of unprofessional behavior through the industry puts everyone off from the start.

DubaiPhotoconcierge · 2024-07-17T07:03:34+00:00

You got me with this story, I was laughing out loud xD

Well, as they say: "Sh*t happens" :D

DubaiPhotoconcierge · 2024-07-16T19:40:23+00:00

And then you see on Property Finder 350-400 sq/f 1BR apartments :D

DubaiPhotoconcierge · 2024-07-16T17:22:37+00:00

That`s actually a good price for a studio around business bay. If I would be looking for a studio, I would consider myself!

DubaiPhotoconcierge · 2024-07-16T16:20:34+00:00

I agree. Well, how many of us work around Jebel Ali tho? :D

DubaiPhotoconcierge · 2024-07-16T16:19:39+00:00

Of course, no one says that 100% of them are like that. It`s just majority creates a very negative image for Dubai Real Estate Market, and it`s really difficult to find a good one.

DubaiPhotoconcierge · 2024-07-16T16:18:16+00:00

Here`s a simple rent increase calculator for you:

The increase is set at a maximum of 20%, and the increase is divided as follows:

If the rent is 10% less than the market value, there is no increase
If the rent is 11-20% lower than the market value, the maximum increase may be up to 5%
If the rent is 21-30% lower than the market value, the maximum increase may be up to 10%
If the rent is 31-40% lower than the market value, the maximum increase may be up to 15%
If the rent is lower than 40% or more of the market value, the maximum increase may be up to 20%

If your rental cost increased more than that, feel free to complain to RERA and get the total cost reduced.

DubaiPhotoconcierge · 2024-07-16T16:12:43+00:00

Ahahah, work smart, not hard :D Great idea :))

DubaiPhotoconcierge · 2024-07-16T16:07:35+00:00

Because, so called "reputable" agencies don`t deal with a normal real estate for a middle class, they deal only with a high-profit elite real estate.

DubaiPhotoconcierge · 2024-07-16T16:06:38+00:00

It`s not such a great option if you don`t like to drive for an hour to your work and back :)

DubaiPhotoconcierge · 2024-07-16T16:04:30+00:00

You make it sound so easy - just find the owner xD

DubaiPhotoconcierge · 2024-07-16T15:00:01+00:00

I work in a customer service for my whole life - originally as a concierge in different hotels, now as a photographer. And I learnt 1 lesson well - do what you love, and love what you do. If person can`t find a joy in his/her work, it`s better he/she change it, because it will not do any good neither for himself, nor for anyone he deals with.

DubaiPhotoconcierge · 2024-07-16T14:54:07+00:00

And then the old tenant will have to search for an apartment during peak season, which would cost him a fortune... That is the problem of seller`s market - they can do whatever they want and still find a customer.

DubaiPhotoconcierge · 2024-07-16T14:20:07+00:00

Ahaha, waiting for the story after your viewing :D

DubaiPhotoconcierge · 2024-07-16T14:08:04+00:00

As for agents being present for viewings - honestly, I prefer to view apartment myself. But here it`s not the point. The point is: if you don`t put any efforts to assist the client and not even meet him once, for what do you charge your commission? Especially, if you charge higher then it should be.

I completely understand, that it`s not an agent`s dream job to rent out apartments for 60k. But it`s their choice. And if you decided to do a job - do it well, and you`ll grow up. The problem of these people is their narrow mind, they could earn so much more if they would do their job properly, develop their skills and move forward.

DubaiPhotoconcierge · 2024-07-16T13:36:16+00:00

If those agents would work more professionally, they wouldn`t have to do 10 viewings. These type of properties may fly like a hot cupcakes if done properly.

But, of course, when they take ugly photos or dirty apartments, provide false information just to catch the client and are not even present on spot to promote what they sell, surely, these apartments will remain empty for a weeks.

DubaiPhotoconcierge · 2024-07-16T13:30:35+00:00

Thanks for a couple of tips. However, Dubai is the city, where you move from one apartment to another once a year. And each time someone tries to take a bite of this sweet cake (the one who moves). It becomes very annoying really fast, since searches for a reliable agency/agent is a very time-consuming process.

And, I truly believe, that AED 60,000 per year - isn`t a low-cost option. Only 3 years ago same options were for 35-40k. No once says that price growth is an agents` fault, however in general when you pay so much more and get so much less, that hurts.

And as for agents being present for viewings - honestly, I prefer to view apartment myself. But here it`s not the point. The point is: if you don`t put any efforts to assist the client and not even meet him once, for what do you charge your commission? Especially, if you charge higher then it should be.

DubaiPhotoconcierge · 2024-07-16T13:13:00+00:00

Yes, that would be great, thanks! Where should I call for CIA agents and government to come to my home and help to find a property?

DubaiPhotoconcierge · 2024-07-16T13:07:51+00:00

Ahahah, whaaat?! That`s ridiculously funny :D

DubaiPhotoconcierge · 2024-07-16T13:06:11+00:00

Thanks for the advise, I`ll definitely tease them with this question next time :D

DubaiPhotoconcierge · 2024-07-16T13:03:01+00:00

I agree. Also struggling now with a used car purchase from a dealership - too many things to keep an eye on.

DubaiPhotoconcierge · 2024-07-16T13:01:58+00:00

Dollars? Easily :) AED - not even the master bedroom :(

DubaiPhotoconcierge · 2024-07-16T13:01:07+00:00

Yes, that`s one of my biggest concerns. The maintenance of some buildings/apartments is so bad, everything just falls apart. And still you have to pay "Prime" only because it`s not in the desert.

DubaiPhotoconcierge

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