Conducted on behalf of Better Homes, the research targeted over 2,000 people, and showed that more than 50 per cent of purchasers were most concerned about security and trust issues. Construction delays, a common problem throughout Dubai, were the second most common cause for concern with 19 per cent of all responses.

Ryan Mahoney, Managing Director of Better Homes, said that the results were not all that surprising given the high values involved with real estate transactions. “It’s right that people err on the side of caution,” he said. “When compared to some more established markets, the sector in Dubai is still relatively new and in any such markets there is always likely to be similar concerns”

However, the good news for investors in Dubai is that the market is becoming increasingly regulated. Mahoney added “Regulation in the industry here has come on leaps and bounds in recent months and while there is still a long way to go, the establishment of the Real Estate Regulatory Authority (RERA) along with the implementation of laws such as Escrow have really helped tighten things up in the market, putting it on more of an equal level when compared with our more developed international counterparts”.

Mahoney feels that the survey should serve as a reminder to all potential investors to beware; “I would advise anyone to always purchase from reputable developers and through reputable real estate agents to reduce any unnecessary risk. At Better Homes, we always carry out comprehensive due diligence before taking on board any project to ensure that the end product meets the required standards and expectations”