In this episode of the DubaiView podcast, I’m joined by Steven Leckie , associate director at Haus & Haus and one of Dubai’s most trusted real estate advisors. With over 20 years in the industry, Steven has witnessed Dubai’s transformation from undeveloped desert plots to a global hub of real estate innovation.
He shares his journey from luxury car sales in London to high-value property transactions in Dubai, revealing what it truly takes to survive and succeed in this competitive market.
Longevity in a Transient Market: What Sets Steven Apart
Dubai is known for attracting waves of new agents with dreams of fast riches—but few last more than a year. Steven, however, has thrived for over two decades.
His secret? Patience, honesty, and relationships.
He emphasizes that Dubai real estate isn’t paved with gold: success takes time, and trust is earned through consistency. While many agents chase commissions, Steven built his brand by being transparent with clients—even if that meant advising them not to invest.
This long-term approach has made him a go-to advisor for serious investors, many of whom now return years later or refer others based on trust alone.
The Studio Oversupply Problem
One of the biggest concerns Steven raised is the flood of studios and one-bed units being launched across Dubai. Developers find them easy to sell, and new agents often push them because they’re quick deals. But the long-term risk to investors is growing.
- A recent project Steven analyzed had over 68% studio units.
- High-volume buildings mean thousands of similar listings competing on the market.
- Resale or flipping becomes nearly impossible when identical units saturate supply.
- Rental yields also get squeezed as more supply drives rents down.
Steven urged investors to assess scarcity and competition before buying. It’s not just about the entry price—it’s about how easily you can exit.
Smart Investing in a Stabilizing Market
The post-COVID boom is giving way to a more stable and maturing market. Steven predicts modest appreciation ahead, but not the explosive growth seen from 2020 to 2023.
For investors, this means strategy matters more than ever:
- Focus on quality over hype—look beyond the brochures and influencer-driven ads.
- Consider furnished turnkey units post-handover as they offer better flipping opportunities.
- Pay attention to developer reputation, floor plans, and unit scarcity.
He also highlighted Dubai Land and parts of JVT as smart plays for budget-conscious investors looking for future value, especially with upcoming infrastructure like the Blue Line metro expansion.
The Truth About Starting a Real Estate Company in Dubai
Despite his success, Steven shared that running his own brokerage was the most stressful period of his career.
Endless overheads, staff issues, legal exposure, and admin burden quickly outweighed the rewards. He eventually shut it down and rejoined Haus & Haus, where he could return to doing what he loved—serving clients and closing deals.
Unless you’re ready for years of no profit and relentless responsibility, focus on being a top-performing agent within a great brokerage.
The Luxury Market and Villas: Where Things Stand
Steven expressed optimism for Dubai’s luxury and villa market, especially projects like Emaar Oasis, which continue to sell out instantly despite high ticket prices.
That said, he urged caution with certain developers making grand promises on timelines and quality. It’s not just about floorplans—it’s about delivery capability.
For most investors, buying a „too-good-to-be-true“ villa at an entry-level price often leads to disappointment in quality and delays. In many cases, a premium apartment from a reputable developer provides better returns and fewer surprises.
Final Thoughts: Why Process Beats Pressure
Steven’s core message was simple but powerful: focus on the process, not the commission.
- Build relationships, don’t burn them.
- Be honest, even if it means losing a sale.
- Trust that if you do things the right way, the rewards will follow.
After 20 years in the industry, he’s proof that consistency, integrity, and putting the client first is the most profitable strategy of all.
Explore Dubai’s Real Estate Opportunities
Dubai’s real estate market offers endless potential for those ready to innovate and adapt.
Ready to start your journey in Dubai’s thriving real estate sector? Follow the Dubai View Podcast for more expert insights, or book a free consultation with us to start the conversation.
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