Tips To Avoid Real Estate Property Scams In Dubai
As the trend for investing in/buying real estate Dubai continues to rise, some reports of property scams also emerge. While the numbers are not yet worrisome, property owners/managers and investors, especially foreign nationals, are advised to be vigilant when buying properties and immediately report to authorities any signs of fraud or suspicious activity.
It is true that compared to other real estate hotspots around the world, Dubai real estate is much more affordable and offers higher returns on your investment. However, this does not mean that you can put your money down because the offer looks good. Keep in mind that if an offer looks too good to be true, there’s a chance that it is a scam.
Here are some of the things that you can do to avoid property scams:
Beware of fake brokers or agents
Whether you’re looking for properties online or through other forms of advertisement, always perform a background check before engaging with an agent. Even if you are not familiar with how property management Dubai works, you may look online for useful information and ask your friends or family for recommendations.
Note that all real estate companies and agents must be registered with Real Estate Regulatory Agency (RERA) in Dubai.
