Ministry from all part is reviewing rules and regulation to be more adapted to the current market situation. We can see that the example of the Dubai Land department who is conciliating more to maintain the existence of the realty business who is suffering the most.
Booming time of the real estate market is on hold for better time. Bank lending is becoming difficult, and business loan is total not provided to that industry event with employees of that industry.
Tuff time under go for the real estate professional who are seeking to react to the high demand slowing down since July 2008. The redefining of the property marketing is unders crutining by giants who in the past has rolling on the oily machine of them base press printing, bill board, brochure …
Today, all that marketing is not efficient any more. Professional are redefining them strategy over the internet. Many agent, brokerage, firm are claiming quotation, expressing more description of them real estate product.
It is become more competitive for them and the internet web portal classification makes it easier for potential buyer to make comparison between all the offers to submit them inquiries.
Professional today, are stock in the keys board to make a difference. The chat, the aggressive call sale team, is over. Today them putting everything in writing, clear e mail with all necessary disclosure and politesse.
The rush time to decide quickly is a sentence from the past. Buyer are the rulers in this market, and they are very happy to enter this market who offer so much better price , documentation and details of them rights have never been well presented to them, they are the king. Who said money does not talk.
Seller are begging to find buyer and are representating all advantage and benefit to buy them property by put all necessary document, title, condo association, discount on a silver plate. Mostly, property completed are attracting by the buyer, the off plan property are on serious stand by, by the time the bank will start to lending again.
Tremendous opportunity is offer at the time of falling property value. Home owner have redirect them investment to the rental market but since the number of supply of property coming to the rental market the price index will have a tendency to fall as well.
Expatriate jobs are under cuts, they are suffering in the time of the storm or they have decide to return to them homeland to face the same issue in family. Dubai property market is becoming more mature and local law regulation is adapting also it self to expatriate understanding, who came here to continue them carrier. Both, commercial and local mentality has to continue to join hands to reach them goals for the success of the futuristic city.
