With a reported Dh25 billion in property sales, Ben Bandari has a clear perspective on Dubai’s dynamic real estate market. The Canadian-born agent and star of Million Dollar Listing UAE believes success in the city is about more than just finding a property.
“In Dubai, it’s not just about buying property, it’s about buying opportunity,” Bandari said in an interview. “Timing, location, and strategy can make or break your investment.”
Drawing on his experience, he offers guidance for anyone looking to enter the market.
Market Strategy and Timing
Bandari advises that market timing is crucial. He points to downturns, such as the 2008 financial crisis and the COVID-19 slump, as periods when astute investors acquired prime properties at lower prices. He suggests that patience combined with strategic timing often leads to profit.
This foresight should also extend to having a clear exit plan before committing. Prospective buyers should consider their holding period, target return, and the liquidity of the market in their chosen area to avoid turning a potential asset into a liability.
Location, Views, and Lifestyle
The old adage of “location, location, location” holds particularly true in Dubai. Bandari notes that while areas like Downtown Dubai offer high demand and strong resale value, emerging districts such as Dubai South present opportunities for long-term growth. He also points to Abu Dhabi as a less saturated market with potential.
Beyond the address, the specific view from a property significantly influences its value and rental income. He cautions buyers to check master plans, as a desirable view today could be obstructed by future construction. Ultimately, the decision should balance investment logic with lifestyle needs, as proximity to schools, work, and leisure facilities makes a property more attractive to both live in and sell.
The Buyer’s Approach
A common pitfall for buyers is making emotional decisions, Bandari warns. He advises separating the logic of an investment from the personal enjoyment of a home, especially in the high-stakes luxury sector.
This rational approach extends to choosing between off-plan and ready properties. Off-plan developments can offer higher returns and structured payments but require trust in the developer’s track record. Ready properties provide immediate value and no construction delays but typically come at a higher price. Understanding your own budget, needs, and risk tolerance is fundamental to making the right choice.
Navigating Dubai’s complex market is best done with expertise. Bandari’s final piece of advice is to work with a seasoned agent who can prevent costly mistakes, negotiate effectively, and guide clients through the city’s legal and financial procedures.
Million Dollar Listing UAE, produced by Image Nation Abu Dhabi, is streaming on Starzplay.