Representatives of Better Homes, one of Dubai’s leading real estate firms and considered by many to be the emirate’s premier address for the regional property market, recently called for tougher regulation of the real estate industry.
“The boom of the property industry has seen some players come in for short-term gains, lowering the ethical standards within the industry,” said Linda Mahoney, CEO of Better Homes, according to Gulf News.
The statement came despite the fact that the firm has experienced impressive performance, and will soon be celebrating two decades of success in Dubai’s real estate sector. Along with Dubai’s expanding property market, Better Homes began small and has grown at a staggering rate since; Better Homes currently employs more than 400 staff, and boasts the largest selection of property in the region.
In recent years, said Mahoney, claims of rogue agents cheating investors out of their money have risen. She advised all potential investors to first seek legal advice before making a purchase.
“Think of investing in property as if you were having an operation. You wouldn’t let just anyone perform surgery on you…so why trust just anybody with your property?” she said.