FBC Member in a Spotlight - Meet Mirva Puupponen from EPH Real Estate LLC

1.      What brought you to Dubai, and how did EPH Real Estate get started? 

I moved to Dubai sent by German investors in 2022 to set up a real estate investment company and to operate it. I learned a lot cause the company was started from scratch and I had to study the market by myself and make all the contacts. Later I noticed that I received more varied enquiries than what I had in the portfolio and we decided to set up the EPH Real Estate to serve our clients wider and also to build an international team.

2.      What are the current trends you’re seeing in Dubai’s real estate market? 

I am seeing a strong demand now and in the future for family living - means community living with elevated services inside of the community. Investing in offplan properties is still trendy, especially overseas clients can easily invest with flexible payment plans without a mortgage. The luxury segment is still expanding driven by wealth migration and safe-haven investment demand. Mortgage buyers in amount are breaking records,  since a lot of tenants turn into owners. Some other trends to be mentioned: plunge pools on the balcony in apartment buildings, lagoons and water features in communities, themed communities as "healthy living" or "forest living" or "farm living" etc. Also some new projects integrating AI to the apartments in order to monitor and create well-being in the living.

3.      What do you expect to see in terms of pricing, demand, and foreign investment over the next 5–10 years? 

To my mind we have to see different market segments and areas.To make a generic statement for the overall Dubai real estate market would be wrong. I am sure hot areas are going to grow in their price, and I also expect some villa and townhouse communities to rise in price - yes, some are still undervaluated - but there might be areas which are now in a mature phase and due to new areas these might stagnate. We also have to keep in mind the impressive rental yields holding steady at 6-7%.  Personally I dont see an overall drop in the next couple of years, if not a major political crisis will shake the trust in the UAE. In 5-10 years I expect Dubai and UAE to grow according to their plans. The fact that from 2008 to 2025 the city added 2.4 mill. residents, more than doubling its size, is very impressive.  According to the projections the residents will hit 5 mill in 2029-2030, requiring 300,000 new housing units.

4.      What advice would you give to fellow FBC members who are thinking about investing or working in Dubai’s property sector? 

First, I always tell to think about the future exit - before investing. Secondly, use a trusted agent who will tell you the truth and will guide you through all the way long. Thirdly, define your investment goal (capital appreciation, rental yield or both),  your budget and the time line. A good agent will offer you properties that suit to your personal strategy. If you want to start to work in real estate, it is a rewarding and exciting opportunity. Not a single day is the same!

5.      How do you spend your free time when you’re not helping people find their dream homes? 

Mostly by spending time with my family: my husband, two kids 8 and 9 years old and our dog. We also love to travel, good food and also just chilling at home.