_Diary of an agent: Yasin Valimulla

What is your role at Knight Frank Middle East? 

Associate Partner in the UAE Residential Prime Sales team, specialising in luxury waterfront properties on the Palm Jumeirah.

How have you found lockdown so far in Dubai? 

It’s been challenging since my role as an agent is to be out and about meeting clients and showing properties.

The use of Zoom and Skype certainly does help for online meetings with both external clients and our internal teams, but unfortunately, I’m restricted when it comes to in person property tours and viewings at the current time.  

Where are you currently working from? 

I’m working from home, partly on my balcony, enjoying the stunning views over Palm Jumeirah and partly indoors depending on my 2 young children, who are certainly keeping me on my toes!

How has your relationship with clients developed during lockdown?

I have remained in touch with all my clients via regular WhatsApp and telephone calls whilst ensuring sensitivity with the current situation. I have also started producing vlogs to keep clients informed and engaged with the current state of play with the market. Most of our clients are very forthcoming and are happy to have engaging conversations to help them plan their next move in the real estate market.

There’s an understandable perception that as physical viewings are suspended that the property market is stagnant, but I don’t feel that to be the case, as we have received several property sales enquiries and multiple offers in the last couple of weeks.

Certainly, for off-plan projects they are continuing as normal albeit at a slower pace, dependant on whether the developers are utilising marketing technology and platforms, such as video walkthroughs and 3D project tours.

Rentals and secondary market sales without viewings is proving to be difficult, as understandably buyers are reluctant to commit without physically viewing the properties. Rentals on the other hand is dependent on the tenant’s motivation. For some clients, 3D tours and walkthroughs are sufficient in the current climate to commit.

How will the Dubai real estate market respond when restrictions are lifted?

With prices softening continuously for the past 5 years, clients with a longer-term vision for Dubai will find it very attractive with historically low interest rates and higher LTV (80%), financially they may be better purchasing rather than renting. We anticipate more prime established areas within the city will perform better than others.

What are you most looking forward to when you come out of lockdown?

I am very much looking forward to returning to my daily routine and disciplined schedule of the gym, structured client meetings and property viewings, as well as returning to the positive work environment we have in our Dubai office. I miss interacting with my colleagues on a daily basis, as I feel we have created a very healthy and positive work culture that everyone benefits from.