Find out the essential skills needed in Dubai’s thriving real estate sector and explore the latest trends shaping the market. Learn how property brokerages are competing for top talent and leveraging technology to enhance the home finding journey. Discover the stability of average property prices and the growing popularity of off-plan properties for investors, with potential returns of up to 10%. Stay informed about the dynamic Dubai real estate market.
UAE jobs: Key skills required in Dubai’s booming property sector revealed
Property brokerages in Dubai are facing the challenge of attracting the best talent in the highly competitive real estate market, according to a senior industry executive. Ari Kesisoglu, President of Property Finder, emphasized the importance of recruiting top professionals in an industry experiencing significant growth. Speaking at the Property Finder Connect 2023 event, Kesisoglu highlighted the need for exceptional individuals with expertise in their respective fields and strong relationship management skills. Establishing trust between buyers and sellers, who often engage with multiple parties, is a crucial aspect of success in the real estate business.
During panel discussions at the event, experts emphasized the indispensability of recruiting and nurturing high-performing talent. The rapidly evolving nature of the real estate industry requires constant adaptation and investment in technology and training. Kesisoglu stressed the significance of equipping professionals with the best tools and knowledge to enable them to perform optimally. Technology adoption, the vision of improving the real estate experience through innovation, and leveraging data for increased transparency were key areas mentioned by Kesisoglu as central to Property Finder’s approach.
Stability in average property prices
Kesisoglu also provided insights into the stability of average property prices in Dubai. Over the past six months, the per square meter price has remained steady across various property types. While prices in prime locations continue to rise due to limited supply, Kesisoglu pointed out that off-plan transactions contribute significantly to the overall market. Off-plan sales accounted for 15,948 transactions in Q1 2023, reflecting a notable increase compared to Q1 2022. These transactions represent 50-55% of the total, highlighting the popularity of purchasing properties during the development phase.
Growing interest in off-plan properties
ZāZEN Properties reported a 42.5% year-over-year surge in off-plan sales transactions in April, indicating sustained interest in this segment. Investors are increasingly favoring off-plan properties over ready real estate projects due to the potential return on investment (RoI) that can reach up to 10%. Factors influencing the RoI include location, build quality, and the range of amenities offered. The dynamic nature of the Dubai real estate market, coupled with the attractiveness of off-plan investments, presents lucrative opportunities for investors seeking substantial returns.
Stay ahead in the Dubai real estate market
To thrive in Dubai’s real estate market, staying informed about the key skills required and the latest trends is crucial. As the competition for talent intensifies, brokerages must focus on relationship management, industry expertise, and building trust with stakeholders. Technological innovation plays a vital role in enhancing the home finding journey and increasing transparency. Moreover, understanding the stability of average property prices and the growing demand for off-plan properties empowers investors to make informed decisions and capitalize on the market’s potential.
As Dubai’s real estate sector continues to evolve, being well-versed in the market’s dynamics will give you a competitive edge. Stay tuned for more updates on Dubai’s real estate industry, ensuring you remain informed and ready to seize the opportunities it presents.
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