Guide to help you in making educated and safe purchasing, while investment choices.

The insights provided here will guide you in making educated and safe purchasing and investment choices so stay with us till the end.

Digitalization of Real Estate

UAE and Dubai are increasingly relying on new technologies both in the construction and sales sectors in an effort to digitalize this sector. Recently the use of NFTs and cryptocurrency was firmly established to finance real estate transactions.

More and more companies are using VR and AR technologies to give property tours to remote buyers looking to invest in Dubai. Finally, robotics and automation are also seeing a rise in the construction industry where they have improved construction efficiencies and reduced costs.

Proptech sector and AI Integration on the Rise

AI is the main element that will drive the real estate market of this region in the following years. Even the local real estate market has welcomed this technology to simplify the process of property searching and selecting offers, neural network integration is facilitating the valuation of real estate and asset management. 

Proptech which is a sub-sector of the real estate market is also on the rise. Investors are using it increasingly to add modern technologies to their traditional settings, national Artificial Intelligence Strategy 2031 is launched by UAE . It is expected to subsidize proptech and AI integration even further.

Trends in the Development of the Luxury Sector

Analysts claim that the UAE and Dubai will continue to attract increasing numbers of individuals in 2024. These include migrants & tourists. Investors will also be a part of its real estate dynamics, the luxury real estate market is one the rise. It generated a revenue of $4.91 billion from sales in 2023. Further growth is expected.

The prices of luxury real estate properties in this region are really attractive. A 105-square-meter luxury property in Dubai can be bought for $1 million. The same amount of money is required for buying a 33-35 square meter real estate in London or NYC.

Green Real Estate

40% of the world’s carbon emissions are due to real estate developments. The UN Climate Change Conference was held in Dubai in 2023. It focused on adopting a greener approach in all the major sectors including real estate, sustainability & environmental friendliness has been a priority for developers. It has encouraged many companies to add more green elements to their properties, buyers are looking for properties with eco-friendly living. Energy-efficient facilities like smart lighting & solar panels has been a preference.

Suburban Real Estate Trend

Another surprising trend in the real estate market of Dubai and UAE is that more people are opting for suburban real estate. Areas like Dubai South and Jumeirah Village Circle are attracting more buyers for their relaxed and peaceful way of life.

Buyers and remote workers who want larger homes, peace, more space, and a feeling of community are increasingly going for the suburban real estate in this region.

Trends in the Office Sector Real Estate

Remote working is the new norm, especially after the pandemic and Dubai and UAE have welcomed it with open arms. This trend has influenced many developers and investors to go for properties that are more flexible and comfortable, with more focus on class A, Class B, and Hotel-style offices, this new trend has really changed the office real estate scene in Dubai and UAE.

Final words

As expected, in 2024 the real estate market of Dubai and UAE has maintained its upward trend. A shift towards digitalization has been observed. Green real estate with amenities like energy-efficient kitchens & automated systems are trending.

The market has welcomed several new trends. These are shaping the future of this sector drastically. Keeping up with them is essential. You need to make a conscious effort to learn more about the new change. These may impact your buying decision.