Real estate trends that are reshaping the industry
Real estate trends are often dynamic and can even change multiple times within a single business cycle, thanks to their very own nature. This is a reality even some of the top property developers in the UAE agree with. As is the case with most industries, the real estate sector has witnessed significant changes over recent years owing to the advent of technology and not every property developer has been quick to take advantage of it. Rapidly emerging technologies have redefined services delivery in the property space, paving way for better and more enhanced customer experience.
Here are some most prominent trends to watch out for which almost all Leading Real Estate Developers look to benefit from, turning their products into attractive offers across Dubai:
Sustainability: Did you know that although cities occupy a mere 2 per cent of the land, they account for 70 per cent of the world’s energy-related carbon emissions? However, thanks to rising awareness levels, more and more customers are now looking for new buildings that have a sustainability rating, and this trend is encouraging new buildings to be energy conscious. And there is a list of property developers in UAE who are doing their best to include this in their offers.
PropTech: Property technology or PropTech can be defined as those technological innovations that are disrupting the property sector. Apart from advancing the GCC’s real estate sector, industry experts are also harnessing the potential of PropTech applications to develop highly customized 3D floor plans, strengthen collaborations in the rental market, and help customers make informed decisions and giving an edge to the real estate development. In addition, PropTech makes virtual property tours possible, anytime and anywhere, and can be accessed through smartphones.
Co-living and sharing economy: The rising prominence of the sharing economy has given rise to new possibilities, a reality every real estate developer in Dubai is accepting. More and more people now prefer co-living, not only because of affordability but also for other reasons such as sharing of responsibilities. Global co-living funding has grown considerably over the past years and is set to spike further, especially in cities with huge population of youngsters.