Wednesday 2 October 2013

No cold calls or face fines, Dubai regulator warns property brokers | The National

No cold calls or face fines, Dubai regulator warns property brokers | The National:

"Dubai’s property brokers who are looking to make a quick deal have been warned against cold-calling potential clients as property prices in the city surge.

The Real Estate Regulatory Agency (Rera) of the Dubai Land Department yesterday issued an official letter to all of the city’s registered real estate brokers, reminding them that direct telemarketing violates its rules.

Rera’s Real Estate Inspection division said it had been inundated with complaints from homeowners in recent months as property prices in Dubai continue to rise steadily.

The warning comes as the property broker Asteco reported that average apartment prices in Dubai rose 42 per cent over the 12 months to the end of September and villa prices rose 26 per cent."

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