5 Tips to Avoid - Dubai Real Estate Scams

 

Dubai annually attracts a large number of investors from all over the world. For entrepreneurs, for real estate investors, many consider the city a safe place for business. In addition, the real estate industry in Dubai has been witnessing steady growth over the past few years. As a result, Dubai has also become a magnet for scammers, especially in the property sector.

It is necessary to identify the Dubai real estate scammers and to avoid getting into the trap. Let's find out how you can be safe from people who work to extort money from you through illegal and unethical methods.

Dubai Property Scam - 5 Tips to Avoid Them

Look For RERA registration

The Real Estate Regulatory Authority (RERA) of the Dubai Land Department oversees the industry in Dubai. All brokers and developers are required to be registered by RERA. You can check for RERA registration on its official website. Remember that unless your agent is on the website, it is wise not to engage with that person for any property deal. Scammers may also have fake IDs.

Price estimate

If an offer sounds exceptionally good, it is probably not right. One common strategy that scammers adopt is enticing investors and homeowners to have unrealistic deals. Therefore, it is always wise to consult a reliable RERA-licensed real estate broker. They will be able to estimate the value of your property. If you want to buy, understand the market and average price in the area for that type of property.

Official contract

Another way to avoid a real estate scam is to make sure your contact is legalized. If you are renting a property, you should register your lease with the Ejari of Dubai Land Departments. If you wish to purchase a property, be sure to make an officially recognized and valid agreement between you and the agent for the service that provides the brokerage. You may also need a format agreement between you and the developer in some cases.

Check payments

Many real estate scams have one thing in common - cash-only transactions. Scammers will not want to leave any trace that will take them back. Therefore, most of them will ask you to pay cash. There is nothing wrong in stressing that you want all transactions paid via check or bank transfer. Likewise, make sure that any advance payment you make is always documented and accepted by the agent.

Property search

If you are looking for a property by yourself, make sure that you only use trustworthy listing portals, such as ProsperityDubai. They will be regularly checked on their listings to avoid property rental scams and fake listings. As a result, you can perform initial filtering on the portal. However, make sure that you check for any red flags in the listing. Always assume that scammers are clever. In this way, you will learn to outsource them.

The perfect way to ensure that you do not fall prey to any Dubai property scam is to make sure that you have a reliable real estate agent. A RERA-licensed broker with a good reputation and industry knowledge will definitely guide you through the right path.

Planning to Invest in Dubai Real Estate? Reduce Your Risk with These 5 Check Points

 

What comes to the mind of a first time investment person who has never invested in real estate? Afraid? As for many concerns, they are not well aware of the lack of knowledge of market movements and Dubai real estate market. In fact, investing in property is not a risky proposition, as long as the right steps are being taken in terms of gathering information, work with the right professional to make sure that he is not hurrying before taking the first step.

We at ProsperityDubai have highlighted some points that can reduce the risk when investing in real estate in Dubai. We encourage our clients to consider them before taking the next step in property investment in the Dubai real estate market.

Proper research

The world has changed, now you can get the information available at your fingertips and properties from the comfort of your home with easy click. Get more information about developers / development / areas before proceeding. Which areas are popular, which developers have a good track record, read about developments and buildings?

You can get more information on various projects by connecting with an experienced real estate agent who has access to knowledge to complete any project and average time to complete the financial tasks associated with any investment.

Try not to leverage yourself too much

Make sure you set aside some funds before investing in a property in Dubai that acts as a buffer for you when there are unseen circumstances that arise from delays such as leasing or delaying the property. The only thought process for keeping extra money is that in case of emergency you do not need to take a hasty decision and your investment will give you good returns and you will not fall into the trap of short-term declines arising in the market.

Consult an expert

Clients sometimes want to save a few dollars by not taking the advice or services of professional real estate agents and mostly make the wrong decision. An expert real estate agent is experienced and has a skill set that will help you save both time and money. Real estate experts will help you with your expertise to guide you in property pricing, location, reputable developers, better payment planning options, negotiation skills that will help you make the right decision.

Always make sure the documentation is correct

Always make sure that you read and take the advice of your expert real estate agent before signing any sales and purchase documents. Especially if you are a first time buyer, it is better to consult an expert to help guide you through the agreements, as some of them run in 30 - 40 pages.

Don't be too quick, but don't take too long

Many times it happens that when buying your dream home or investing for the first time you make quick decisions without the advice of a real estate agent or do proper research and you get emotional and pay down which results in either As an investor you are making a huge loss or you are paying more for the property, or you are not getting what you had anticipated. Calculate and discuss with your real estate agent before proceeding.

We hope this short article will be helpful, if you are interested in getting more information about investing in Dubai property market and consult our expert real estate agents, please feel free to contact us.

Tel: +971 4 456 0496

Mob: +971 5 0872 3790

Email: info@prosperitydubai.com

Web: www.prosperitydubai.com

Searching For An Rental Apartment in Dubai? Things You Should Know

 

Moving to a new place, one has to face many new things and some challenges related to settling down and finding ways that reduce the sense of detachment. A few things help you feel for the time being in a place you have recently arrived, and being comfortable in your new place is of paramount importance. When people relocate or start living independently, they usually rent rather than buy property.

In this article you need to know about choosing a place from signing a contract to renting a Dubai property.

To make the right choice about your rent, you need to put a checklist of your requirements such as how long you plan to contract and what kind of property you need, location, budget and the like. Details we will talk about one by one.

Long term or a short term apartment for rent in Dubai

First of all, you need to decide whether you need a long term or short term rental. Some people want to try to stay in one place for some time and see how it will reflect their life and then make a long-term commitment based on a thoughtful decision. Dubai property options for rent provide you the opportunity to rent monthly or annually. Listing properties of various locations and price categories which you can see from HERE.

Property Type

Are you looking for a villa, a studio or a rented apartment in Dubai? And then, how many sizes or rooms do you need to fit in with your lifestyle. Having a home with enough space for each family member for their own personal space is essential for a quality life and having a happy life has a big impact so it should be thought through carefully.

Location

Choosing a location is something that you need to decide, considering the various factors that each person can have a preference for according to their lifestyle and needs. You may like to choose a place that is close to your workplace and protect yourself from the hassle of being on the streets for a while every day. Sometimes people go to choose family-friendly districts, which offer high quality educational institutions for children, in addition to good connectivity and availability of public transport, so there is no right or wrong here that it is only a priority. Is the case.

Budget

This can be considered one of the most important factors when choosing a property to rent in Dubai, as it affects the selection of all other points. Our consultants can make it easy for you and keep all your requirements in mind when enrolling options that check all the boxes on your list within your budget.

Unfurnished or furnished

It will also be decided according to your specific circumstances how long you are going to stay in the city, how stable is your work and its location and what kind of things are there. If you are going to relocate in a short period of time, then not having a lot of things to carry with you will be in a less troublesome situation, in which case a furnished apartment for rent in Dubai is a better option.

Now all you have to do is contact the community expert who has listed the Dubai property to see the property. It is always good to visit the place before signing the contract. You can see for yourself things that may not appear in an image.

You can ask the rental agent in Dubai or the owner of the apartment that is important to you and is not mentioned in the list, such as the parking situation in the building and whether you are allowed to keep pets or if the building Allows for pets and you have concerns about living in a pet friendly building, moreover you may have any questions and concerns. Get all the information you need before making a decision and signing a contract.

5 Best Places to Buy a Property in Dubai – Prosperity Dubai

 

Dubai is a sought-after place when foreigners and expatriates move abroad. With a population of 85% foreigners, the property is quite affordable but rents are high.

In this article, we listed some of the most interesting and popular areas you should have a look at.

1. Cherrywoods

Presenting Cherrywoods Townhouses, new residential collection by Meraas Holdings that will feature exquisitely designed 3 & 4 Bedroom townhouses and villas close to Al Qudra Road, Dubai. The project aims to provide a truly magnificent lifestyle that is contemporary yet cosmopolitan in nature.

With the project a few Distances away from the much –appreciated Nshama townsqaure, it surely has the elements to make it a new premium lifestyle destination. The townhouses will be laced with all the modern day Facilities for the convenience of the residents.

2. Burj Jumeira

New mega project Burj Jumeira is set to be unveiled in Downtown Jumeirah Dubai soon. It is strategically located between Mall Of Emirates and Burj Al Arab and will include key feature and top-notch amenities for everyday living. The off plan project will be more spectacular than you think.

3. Golf Grove

Golf Grove 3 & 4 bedroom luxury villas is a new one-of-a-kind luxury property located at the Dubai Hills development in Mohammed bin Rashid City. These magnificent residences by Emaar Properties offer a breathtaking golf course views.

Golf Grove at Dubai Hills provides a wide selection of amenities and features for its residents to enjoy such as nature trails, golf clubs, jogging tracks, modern health clubs, and children’s play areas which make it the best villas for sale in Dubai hills estate.

4. La Vie, Jumeirah Beach Residences

La Vie epitomizes resort style living in an urban setting. Located in Jumeirah Beach Residence (JBR), one of Dubai’s most iconic destinations, La Vie JBR offers an exclusive waterfront lifestyle to its residents, brimming with a selection of chic shopping outlets, spectacular restaurants, causal cafés and entertaining leisure experiences.

5. Surf – Creek Beach

SURF is the last mid-rise cluster within the west edge of Creek Beach. Don’t let the sunset on the last opportunity to enjoy the true beauty of Creek Beach – just 10-15 minutes from Downtown Dubai and Dubai International Airport via Dubai Metro.

From The Author:

Prosperity Real Estate Brokers is a real estate company located in Dubai, UAE. Our aim is to offer residential properties with good quality and competitive prices, along with tailored consultancy services and after-sales support.

We believe that customers are our most important asset. That is why Prosperity is a customer-driven company.

We provide our customers with free services and tailored consultancy before, during and after sales.

Our highly qualified team covers the top areas in Dubai such as Business Bay, Downtown Dubai, Dubai Marina, Palm Jumeirah, Arabian Ranches, Cherrywoods, City Walk, Mudon and more.

Do you plan to buy property in Dubai?

Click here to get in touch with an experienced agent.   

Dubai Property

Prosperity Real Estate Brokers is a real estate company located in Dubai, UAE. Our aim is to offer residential properties with good quality and competitive prices, along with tailored consultancy services and after-sales support. 

We believe that customers are our most important asset. That is why Prosperity is a customer-driven company. We provide our customers with free services and tailored consultancy before, during and after sales.