Dubai: Estate agents given three days to remove ‘fake’ property listings online – News

Real estate agents in Dubai have been asked to remove from their digital platforms all properties that are not available for sale or rent. Dubai’s Land Department on Wednesday gave agents three days to remove listings for properties that are no longer for sale or rent.

“Through our scheduled inspections of electronic property portals, we notice that there are some properties that are no longer available for sale or rent and are still being displayed on the portals by estate agents.

“Accordingly, all real estate offices must update the portals of digital real estate platforms within three business days, which should result in the removal of all properties not available for rent or sale,” the Department said. of Dubai Lands on its social media platform.

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Last week, Khaleej Times reported how fake real estate advertisements were scamming residents and how real estate advertisements or agents were deceiving them. In a KT survey that garnered more than 2,800 responses, 21.5% said they had been attracted to ads listing homes that were unavailable or already occupied. Another 32.4% found that agents posted fake photos of attractive homes, but “the reality was very different.”

Dubai’s regulatory authority also fined 30 real estate companies Dh50,000 each last week for failing to comply with the terms and conditions specified in real estate advertisements. These measures have been taken by the authorities to ensure transparency in the market, which has experienced unprecedented growth in the post-pandemic period.

There are several online platforms in the UAE that offer properties for sale and rent. Dubizzle, Property Finder, Bayut, Asteco, Allsopp and Allsopp are some of the most popular platforms operating in the UAE for buying and renting properties.

In 2023, Dubai recorded a record 1.6 million real estate transactions across different market segments, an increase of almost 17 percent. while the total value of real estate deals reached 634 billion dirhams. Around 71,000 investors invested for the first time in Dubai’s property market last year.

The Department requested all real estate brokerages and portals to send an email to licensing@rera.gov.ae with evidence of the removal of unavailable properties from their websites.

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