How most Dubai Real Estate Agencies deceive their clients
And why We don't recommend buying off-plan properties for investment in Dubai

Authors: Alex Miroshnichenko, Kir Tkachuk
Reading Time: 3 Minutes
With love for Canadian clients
Firstly, we want to express our respect for colleagues who approach their work with honesty and professionalism, prioritizing client interests over personal gains.

The purpose of this article is not to criticize our colleagues but to provide insights from Masterpiece Properties, a company with 13 years of expertise.

Let's delve into why investors often lose money when buying off-plan properties in Dubai.

The first and main reason: the lack of a professional approach from the average real estate agent who selects properties for you.

What criteria define a professional:
Narrow specialization in selling only investment real estate.
You can't become a professional selling everything - just like a doctor can't become a professional if they are a dentist, gynecologist, and therapist at the same time. In all key professions in the world, there is a narrow specialization, from doctors and lawyers to working professions, and this is not by chance - narrow specialization is the key to professionalism.

Over 100 clients in the portfolio.
You can't become a professional selling 10 apartments. To become a professional, you need to see the dynamics of investments made by your client, for example, 5-6 years ago - only this way can you understand the market.

Experience in the Dubai market.
Professional agency must work in Dubai for more than 10 years. You need to deeply understand the market - because without knowing the past, you can't predict the future.

Market analysis and property search technology.
In reality, choosing a highly liquid property is not difficult if you have successful experience and know the technology. Ask your agent to explain the technology he uses to select properties, how he finds them - let him describe step by step how he does it, and you will immediately understand whether he is a professional or just offers the properties that everyone talks about and sells.

Numeric analytics.
if you are offered properties without showing figures for the area, similar houses, etc., in the dynamics of at least the last 3 years - run, the person chooses properties at random.

We will share with you a list of developers who do very poorly and deceive by overpricing. And ask your agent what he thinks about them - if he responds positively, run, because it is these unscrupulous developers who pay the highest commission, and only greedy agents who don't care about clients and reputation sell them.

Here’s how we work in Masterpiece Properties:
  • We have 13 years of experience in the Dubai market.
  • We have narrow specialization. We sell only finished real estate and take full responsibility for property management of the apartments. We don't sell properties for living or off-plan apartments.
  • We don't have agents who sell and search for properties themselves - because this is not a quality approach. The Product Department led by the company's founder Alex, who has over 13 years of experience managing hundreds of apartments, looks for properties. As a result, we select the best offers on the market and add them to our investment portfolio, which we provide access to for investors.
  • Consultations with investors conduct trained investment consultants from our academy, and their task is to advise and help complete the transaction.

The second reason is the misconception that the entire Dubai is an investment-attractive zone.

This is absolutely not true.

There is a limited number of locations that are genuinely growing in price and will continue to grow, and it is important to know this. You will learn the list of areas during a consultation with an investment advisor.

The third reason is the mistaken belief that in Dubai, everything is 100% fair and honest.

You will be surprised when you find out, but half of the popular developers deceive their clients.
I'll give you an example:
Well-known developer Damac goes on a roadshow around the world and advertises, selling properties 30% more expensive than their real value. As a result, after 3 years of construction, their prices drop.
Out of Damac's 600 employees, the majority work in the "cancellation" department, persuading clients not to cancel their apartments.
And the key is that developers specifically pay the highest commission, so most agencies sell them.

You will receive the rest of the list during a consultation with an investment advisor.

Now you may ask,
«‎But where is it better to invest?»‎

For this, read our next article.
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