You stand in a flat you like, and the broker says the price is fair. You cannot tell yet. Five plain questions will give you facts you can check once you are home.
Why registered sales come first
The Dubai Land Department (DLD) keeps the register of property sales in Dubai. A record shows when a unit sold and for how much, so it is a more reliable guide than anyone’s memory. A broker’s recall can slip and an advert can round up, but a registered sale does not change. Platforms that read DLD records make the check quick. dataHabibi works from the whole register, over 12 million transactions so far, and prices more than 5,500 buildings. For each one it keeps the price history and the rental yield you need for questions two and three.
The five questions, and how to check each
Ask them in any order, as part of a normal chat during the viewing, not as a quiz.
1. “What have similar flats in this building sold for lately?” Ask for dates, sizes and floors, not an average. For example, if the broker says flats like this go for about AED 1,500,000 (an invented figure), ask which ones and when. Then find those sales in the register and see whether the figures match. A good answer names two or three flats and the months they sold.
2. “How has the price moved here over the past few years?” A broker may say it only goes up. Look at the building’s price history instead. A building whose price rose, fell and rose again is a different case from one that climbed in a straight line. A good answer admits the dips as well as the rises.
3. “What rent can I expect?” Ask what tenants in this building pay, not what a listing asks, since a tenant may sign for less than the advert. Compare the answer with the building’s rental yield and with two or three rental listings for similar flats. Find out, too, how long the last tenant search took. A good answer gives a range and says where it comes from.
4. “What is the yearly service charge, and what does it cover?” Ask to see the latest invoice, and ask for the rate per square foot. Then ask the building’s management to confirm the figure, and whether they plan any one-off charges. A good answer arrives with a document.
5. “How long did similar flats take to sell?” A flat that sold within a week and one that sat for six months send different signals about demand at that price. Request two or three examples with listing and sale dates, and match each sale date with the register. A good answer includes the slow sales, not only the quick ones.
Keeping the talk friendly
You want answers, not an argument. A few habits help.
· Say why you ask: “I like to check the figures at home before I decide.”
· Ask one question at a time, and write down each answer.
· Ask the broker to send the figures by email. A written list gives you something to check and keeps the talk relaxed.
· Thank the broker for every answer, including the awkward ones.
· If the broker does not know, ask them to find out, and notice whether they come back to you.
If a figure differs from the register, say so gently: “I see a different number here, could you check it?” Differences often come from a date or the floor area. A broker who sees that you check will often bring better figures to the next viewing.
After the viewing
Make a short list with three columns: what the broker said, what the register showed, and the difference. If the differences are small, the broker’s figures are reliable. If they are large and all point the same way, for example quoted prices that always sit above the registered ones, ask why. Then decide whether to go on with this broker, this building, or both.
Answers you can check
Good brokers expect questions, and good answers stay true when you test them. Write down the five questions before your next viewing, then test the replies at datahabibi.ae.
