Marcus Andersson shares his experience with SCHWARTZWILLIAMS of working in Dubai after starting his real estate career in Sweden. Here, he tells us why a good agent is the key to navigating Dubai’s competitive real estate market.

How does Swedish real estate compare with Dubai's?

Dubai's real estate is far more competitive and challenging, due to competition amongst agencies and price fluctuations. In Dubai, it's very common for individuals to buy more than one property for investment purposes, and this does not happen in Sweden. In Dubai we see the phenomenon of 'cash buyers' which is rare in Sweden.

How is the market trending on Palm Jumeirah at the moment?

At the moment, the trend seems flat, if not a bit weaker. Good properties sell if priced well. We do see some distress deals, but these are usually for units which are not centrally located as it's all about location, location and location. Well maintained properties sell faster, and we do see a huge difference in price in comparison between different buildings. With upcoming catalysts, such as the new mall being built and the new beach walk, plus St. Regis Beach Club next to Oceana/Fairmont, I see a good future for Palm Jumeirah. With these developments, traffic will increase, so if Nakheel can sort out the infrastructure, that would be good. 

What makes you a great broker?

I have a broad knowledge about real estate, and a great track record when it comes to closing deals. I have good know-how about the legal side, and I keep on top of current market conditions. My many years of experience from real estate in Sweden and Dubai also helps.

I list only things that I am confident I can sell, and would rather turn down a property rather than disappoint a client. When I get exclusivity, I'm more committed and dedicate more of my time and efforts on promotion. And most importantly, the seller will have their property listed with RETalk MENA and reach far more potential buyers! 

Why would you recommend buying real estate in Dubai?

Dubai is great for tax purposes and for a great investment with high yields. It is among the safest places in the world, with a geographically ideal location with great weather, and it is the perfect place for a holiday home!

See also:

Report calls myths about Dubai’s over supply of housing exaggerated and unfounded

Dubai speeds up building permit process

How to buy a property in Dubai