Dubai offplan property sales commissions hit highs of 10-12%

Dubai offplan property sales commissions hit highs of 10-12%

Dubai: Private developers in Dubai are offering never before seen commissions to property brokers - of even up to 15 per cent – to get buyers on board for their offplan projects. The higher commissions come in as offplan sales now make up well over 70 per cent of Dubai property market volumes on a month-on-month basis.

More offplan launches in recent weeks mean the pressure is intense on the concerned developers to bring in early buyers. At the same time, with so many competing projects being available offplan, developers believe that offering brokers more is the only way to get the necessary sales gains.

The higher commissions are primarily from private developers, with the ‘likes of Emaar and Nakheel still offering standard single-digit commissions’, said an estate agent.

Earlier, the commissions were around the 4-7 per cent mark. (Interestingly, on ready property sales the commissions remain around the 4 per cent mark on average. And the commissions on rental deals remains at 5 per cent.)

A most 'lucrative' job

All this has meant being a ‘successful’ broker in Dubai has become one of the most lucrative jobs to be in.

“Emaar’s projects – the new one such as the Oasis and recent launches such as