At an event, panelists stressed that there is no alternative to the best
Real estate agencies in Dubai are finding it difficult to find the best and brightest executives, according to a senior industry executive.
“One of the biggest challenges facing the largest real estate agencies is finding the best talent as they compete against each other. Ari Kesisoglu, President of Property Finder said:
Kesisoglu spoke on the sidelines of the Property Finder Connect 2023 event, which included a series of panel discussions on key topics including the impact of emerging technologies, retaining high performers, and more.
He noted that during a panel discussion at the event, panelists emphasized that there is no alternative to the best talent.
“We need to have the best people and give them the best technology and training so they can perform at their best … Every day, every month, things change, so even if you have the best people , you have to invest in them too, including our own growth,” he added.
When companies look for the best talent, Kesisoglu explains, they typically look for someone who is good at relationship management, has expertise in the area he or she operates in, and who can build trust between buyers and sellers because they work with multiple Work party together.
“For Property Finder, it has a lot to do with technology adoption, our vision is to make life better in terms of real estate through technology and create more transparency through data so we can make the home search journey easier. get better,” he said.
Average house price is stable
The president of Property Finder noted that the average price per square meter in Dubai is stable, based on transactions across all properties over the past six months.
“What is happening in prime locations is that there is no change in supply and demand is going up. If this continues, and it must be because of physical constraints, there will still be interesting price points,” Kesisoglu told Khaleej Times in an interview.
“It’s because prices in prime locations have gone up because of physical constraints. A lot of transactions, especially in Dubai, have been done off-plan. So the price per square meter is obviously not like prices in prime locations. So when you average it down , prices are stable,” he said.
Off-the-plan sales in Dubai recorded 15,948 transactions in the first quarter of 2023, compared to 8,467 in the first quarter of 2022, according to Property Finder.
Prices for off-the-plan properties are much lower than for ready-made apartments and villas, and even higher for luxury properties that command very high premiums.
Kesisoglu further explained that off-plan sales accounted for 58-60% of the total transactions.
According to ZāZEN Properties, the off-the-plan sector is continuing to see a 42.5% year-on-year increase in sales transactions in April
Investors prefer to buy off-the-plan rather than ready-made real estate projects, as the return on investment (RoI) for such developments can reach up to 10%, depending on the location, quality of construction and choice of amenities.