Real estate agents given 3 days to remove 'fake' property listings online
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Real estate agents in Dubai have been asked to remove all the properties unavailable for sale or rent from their digital platforms. The Dubai Land Department on Wednesday gave agents three-day deadline to remove the property advertisements that are no longer up for sale or rental.
“Through our scheduled inspections
"Accordingly, all real estate offices must update the digital real estate platform
Last week, the Khaleej Times reported how fake property advertisements scammed residents and how real estate ads or agents misled them. In a KT poll that garnered more than 2,800 responses, 21.5% said they were lured by ads listing houses that were either unavailable or already taken. A further 32.4% found that agents posted fake photos of attractive homes, but the 'reality was very different'.
Dubai’s regulatory authority last week also fined 30 real estate firms Dh50,000 each for not adhering to terms and conditions specified in real estate advertisements. These measures have been taken by the authorities to ensure transparency in the market, which has witnessed unprecedented growth in the post-pandemic period.
There are a number of online platforms in the UAE
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In 2023, Dubai registered a record 1.6 million real estate deals across different market segments, an increase of nearly 17per cent. while the total value of real estate deals reached Dh634 billion. Around 71,000 investors invested in Dubai’s property market for the first time last year.
The Department asked all the property brokerages and portals