Airbnb was founded just 11 years ago.  Its business model is based upon allowing strangers into your home to stay, just like a hotel but not necessarily with room service.  Acting as a broker between the guest and the host, Airbnb now boasts over 3,000,000 lodging listings in 65,000 cities across 191 countries.

Dubai is no longer a city just for rich people.

As the unstoppable effects of globalisation continue to spread across continents, countries, and cultures, so too it has reached these shores. Most notably, the emergence of Chinese and South Asian middle classes from the smothering swamp of poverty has boosted economic growth everywhere around the globe.

Forecasting the future can be dangerous.

And this is especially relevant to the Dubai property market.  Optimistic forecasts usually appear from those who will benefit the most from encouraging buyers into the market such as the vested interest from developers, financiers, and real estate agents.  On the other hand, neutral to pessimistic forecasts emerge from 3rd parties who do not have a stake in the market such as independent analysts and think-tanks.

Many people come from overseas to Dubai to work in the real estate sector.  And many fail. 

Previous sales experience may not count for much here because to be successful in this city, you need to know how it works.

A British couple who have a successful family business supplying shops here in Dubai with furniture want to establish a sales team and distribution centre in Dubai and are interested in purchasing an apartment rather than continuously paying for hotels.

When buying a property in Dubai for investment and/or “Buy to Let”, it is important to understand why one building stands out from its neighbours and attracts buyers and tenants who are prepared to pay a premium to live where occupancy levels are always high and where your property is an appreciating asset that is consistently earning you an income.

Every community or suburb of Dubai offers the investor and the tenant a wide range of prices and rents and it will be no surprise to learn that the best kept buildings in those areas demand the highest purchase prices and the highest rents.

It’s not always about location as in other cities, here you can have neighbouring buildings with similar size apartments and views and yet have massive rent and price differences.

I am currently sitting at my desk in the Dubai Marina . . .

On Wednesday 29th March, 2017 the British Prime Minister, Theresa May, finally trigged Article 50 of the Lisbon Treaty, some nine months after the referendum, that will eventually see the UK permanently leave the European Union, regaining complete sovereignty over its own laws and affairs.

I have been living and working in Dubai for the past 14 years and I don’t think that I will ever become accustomed to people being late for appointments.

No matter how many times it happens, I still get upset at the tardiness of some people with whom I meet and do business. In short, I’m getting fed-up with people arriving late for previously scheduled meetings. And it’s not just 5 or 10 minutes late either. It’s usually a huge whopping 20-30 minutes late, often accompanied by a late phone-call informing me of the obvious – they’re late.

All registered real estate agents in Dubai are bound by a code of ethics which includes 11 principles they are expected to follow and practice such as fair and respectful treatment, preservation of privacy, trust and integrity, respect towards the local society, comprehensive documentation, and general respect of the regulations and procedures of Real Estate Regulatory Authority (RERA).

Welcome to the new year and here is hoping that all those positive forecasts for 2017 regarding Dubai property and the economy are correct. 

During last year, I discussed the consolidation and maturing of Dubai’s real estate market and though we still have some way to go before we can be rightfully compared to the more established markets in the West, we have certainly experienced some large forward steps, if not leaps.