UAE: What does a list price mean in real estate, and how do you make the most of it?

  • Date: 28-Feb-2021
  • Source: Gulf News
  • Sector:Real Estate
  • Country:UAE
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UAE: What does a list price mean in real estate, and how do you make the most of it?

Dubai: The price tag of a house listed on property portals is one of the first things that draw homebuyers' interest towards a real estate unit in the UAE. However, even when the potential home looks perfect, if the price doesn't align with the buyer's budget or turns out to be overpriced compared to market standards, the buyer tends to withdraw their interest from the possible unit. Dubai-based specialist dentist Dr. Teena John found a townhouse with a vast garden space, well within her budget - below the Dh 2 million listing price seen on a property portal. She was prompted to inquire about the residential plot with the listed agent, when looking for a property in a community that was both kid- and pet-friendly. She found the Noor Townhouses in Town Square best-suited for her needs. "Our agent had helped us negotiate the deal price, securing roughly 10 per cent savings on the property's listed price. In September 2020, we purchased this townhouse property and the discounted savings from the deal we spent to upgrade our garden," said Teena John. As seen over the past few quarters, Gaurav Aidasani, Managing Director at Union Square House, remarked that Dubai is