UAE property agents pay surges

The year that went by saw a turnaround in the fortunes of UAE’s real estate.

Sale prices went up, rentals are getting hiked, and transactions have increased after the three slowdown years.

Property prices in niche areas jumped up significantly and so have the brokerages of those helping to sell these properties.

Falling commissions, pay-cuts and no bonuses policy are now been fast replaced by pay-hikes, albeit in single-digits.

The good performance of the real estate sector in the UAE is finally translating into pay-hikes for those working in the industry.

A new survey by Macdonald & Company, a property recruitment specialist, has revealed that professionals in the industry have seen a hike of 5 per cent on the basic salary and 8 per cent more bonuses given as current average base salary in the Middle East remains in line with last year’s average.

The annual study has revealed that the average base salary of regional real estate professionals across all disciplines is Dh36,293 per month as compared to the Dh37,965 per month figure posted in 2011.

Based on the responses of 1,058 individuals, the study shows that 35 per cent of participants received an increase in their base salaries this year as compared to only 30 per cent last year; while only 3 per cent have experienced pay-cuts compared to 5 per cent last year.

Forty-six per cent saw no variance in their wages. In addition to these statistics, the study also identified that salary and responsibility, followed by job security and career progression are the most important factors in determining job satisfaction.

The study also highlights that the region remains an attractive destination for work. “Professionals are still very attracted to this region for financial, career and family reasons, particularly when compared to current available opportunities in the UK, Europe and the US,” said Ben Waddilove, Director, Macdonald & Company.

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