With the Improvement of the Dubai property market over the last 12 months and in particaulr this year the ugly practice of gazumping is starting to manifest, much more common in the UK were a seller offers to sell a property at a certain price and change their mind last minute prior to signing contracts to the annoyance of all involved.
Most agents are now experiencing this particularly on villas which are in particular demand, one of the most prevalent areas in Dubai is Jumeirah Park, most active agents are seeing owners changing prices weekly to the embarrassment of an agents who has spent time advertising and negotiating with a buyer to find that the “goal Post have been moved “
As most owners multi list with multiple agents despite the RERA guidelines that a seller should only list with three agents ( but this practice is not enforced ) so owners advise one agent completely different criteria causing confusion.
It is very promising that the market is now improving after almost 4 years of limited growth
Dubai News bringing you daily news from around Dubai , if you have a Jumeirah park Villas for sale or looking to buy please contact us, We also offer Properties in all areas of Dubai from Dubai Marina, Palm Jumeirah and downtown as well as outer lying villas developments, Mortgages are now available on Jumeirah park