Better Homes witnesses positive market reaction

Better Homes has engaged in a number of promotions and campaigns throughout the first half of 2009, where it has focused on offering carefully selected units to its clients, through various marketing methods and channels, within both the sales and leasing segments of its business.

Following a summer promotional 'Open Day' event last weekend at its Jumeriah Beach Residence branch in line with the start of Dubai Summer Surprises, Better Homes recorded an overwhelming response to its summer offers of inventory for sale and for rent.

Jannie Biddulph, Sales Manager, Better Homes, said, "There were no signs of repressed customers during our Open Day weekend. Our Open Day promotion received over 350 walk-in customers, seeking both properties for sale and for rent."

During the past two weekends, Better Homes has focused on promoting competitively-priced units in areas of demand through its Open Day initiative and received over 1,400 calls in just two days during the selected promotions.

Ms Billy Rautenbach, Director of Operations, Better Homes, said:

"The positive result indicates that despite the recent market downturn, if the right product is offered to the client at the right price, at the right time, there is a good opportunity to transact units within both sales and leasing."

With a specific customer and the right product in mind, Better Homes has been able to successfully match buyers and tenants with units, at a price which aims to satisfy its clients, creating positive results. "For example, our number of leasing transactions is looking very positive," added Ms Rautenbach. "In May this year, we executed 24% more leasing transactions than in May 2008."

With general enquiries on the increase and talk in the market of mortgages becoming available soon, Better Homes expects to see continued success in leasing and see an increase in property purchases sooner than expected.

"As soon as lending becomes available at a wider scale, we expect to see a rise in sales transactions," added Ms Rautenbach. "It is difficult to forecast an exact trend, but if the UAE real estate market, specifically in Dubai, is bottoming out as many have suggested [and Better Homes has noticed an increase in prices in select areas], then now would be the definitive time to invest in property."