In a recent survey by KT, 21% of respondents admitted falling for advertisements promoting houses that were either not available or already occupied.
Dubai’s real estate agents are required to promptly eliminate properties no longer available for sale or rent from their online platforms. The Dubai Land Department issued a three-day ultimatum on Wednesday, urging agents to remove any property listings that are no longer on the market.
“As part of our regular inspections of digital real estate platforms, we observed instances where properties, no longer on the market, were still being showcased by real estate agents.”
As per the Dubai Land Department’s directive on social media, real estate offices are required to update digital property portals within three working days. This update should lead to the removal of all properties unavailable for rental or sale.
Last week, the Khaleej Times highlighted instances of residents falling victim to fake property advertisements and deceptive practices by real estate agents. A KT poll with over 2,800 responses revealed that 21.5% of participants were enticed by ads for houses that were either nonexistent or already taken. Additionally, 32.4% reported agents using fake photos to showcase attractive homes, which differed significantly from reality.
Dubai’s regulatory authority imposed fines of Dh50,000 on 30 real estate firms last week for not complying with specified terms and conditions in advertisements. These measures aim to uphold transparency in a market that has experienced unprecedented growth post-pandemic.
Various online platforms in the UAE, including Dubizzle, Property Finder, Bayut, Asteco, and Allsopp & Allsopp, facilitate property transactions. In 2023, Dubai witnessed a record 1.6 million real estate deals, marking a nearly 17% increase. The total value of these deals reached Dh634 billion, with approximately 71,000 first-time investors entering the market last year.
To ensure accuracy, the Department instructed property brokerages and portals to email licensing@rera.gov.ae with evidence of removing unavailable properties from their websites.
