Seven Century Real Estate Brokers’ Naghmeh Sheikholeslami on the quarter’s key property trends

What are some of the key property trends dominating the first quarter of 2022?
The recovery and growth we experienced in 2021 has continued this quarter. We’re seeing an increase in home buyers compared to people who are looking at property just as an investment. People want to experience community living. They are looking to reconnect with the outdoors and want more spacious homes, particularly with hybrid working becoming more of a given. We are seeing new communities being launched and off-plan sales rising. Buyers are also showing a preference for mortgage payments.

The rental market is similarly bullish, with demand rising as more people look to moving to Dubai. The emirate’s economic stability, tax-free environment and multicultural society are a big draw. The prospect of higher rental yields minus taxes is also attracting more investors  from all over the world.

Technology is now playing an important role for agents and buyers. Thanks to video calls, people can remotely view property in Dubai from anywhere in the world. The Dubai Land Department (DLD) has also upped the ante to ensure transparency in the home buying process, allowing transactions regarding the purchase or sale of real estate remotely via online services.

What are some of the popular areas in terms of rentals?
Rental properties in Downtown Dubai and Business Bay are in high demand. Damac Hills is also very popular, with tenants looking to live closer to the community centre. Higher rental costs have led people to look at more reasonably priced rental properties, including townhouses  in Damac Hills 2  that  are known to  offer a community living  experience  at  affordable prices, starting  at Dhs45,000 per annum.

Tell us about your company and its operations.
We started our company in 2007. Today, we’ve grown in scale and size. We’ve seen ups and downs such as the global recession in 2009, during which we never closed shop or changed our phone numbers. We also attended to all our clients around the clock all through the pandemic, ensuring they  continue to be a top priority. Customer service and trust are very important in our business, so we work hard to negotiate the best deals for our clients with developers and sellers.

We specialise in properties in Business Bay, including Paramount Towers; Damac Hills 1; Akoya D2; Sports City, JVC and Town Square.

We are optimistic about 2022 being a productive year in terms of sales. We are also restructuring the company and expanding our office. Having a property management/holiday homes division has also been an advantage. We are always in touch with our valued clients and update them about new regulations and laws.

Tell us about the company’s recent achievements.
Our efforts helped us receive the Gold Ranked Agency Award from DLD in 2021 for the fourth time. It’s a real honour to receive this award yet again.

What advice would you give someone looking to buy a house in Dubai?
The best thing to do is find a well-experienced advisor who’ll offer you practical advice after understanding your needs and budget. This will help make the process of buying a home a lot easier.

To know more about the company, click here