Last year became a phenomenon for the global real estate market, when neither high inflation nor fluctuations in interest rates coupled with geopolitical news could stop its development. Experts, unanimously, agree that 2024, on the contrary, will bring a wave of transformations and fundamentally change the situation for those who will be able to catch the wave.
Spoiler: Real Estate, especially its residential segment, will continue to evolve and remain an example of significant stability, albeit with its own peculiarities.
The real estate market in the UAE is in a unique position: a boom in foreign investments in collaboration with government initiatives, from golden visas to economic incentives, creates a special investment climate. On the one hand, there are local peculiarities, on the other hand - the influence of global consumption trends and digitization. In this sense, the market of the Emirates is a fertile ground for examples and illustrative references.
The Evometa team has studied dozens of trend reports to formulate 5 non-obvious trends.
Millennials and Generation Z are digitizing the game
Digital Twins technology: a key trend in PropTech
Property viewing is not the only aspect of purchasing property that is becoming digital. Now you can get a mortgage online. Millennials are increasingly turning to technology to learn more about their new neighborhoods. This has made sites like Nextdoor popular, allowing residents of specific areas to stay connected with each other.
PropTech — short for "property" and "technology". PropTech is an area that brings together technologies in the real estate sector. PropTech solutions focus on changing the consumption model: buying, selling, renting, managing real estate using data and process automation.
An increase in digital innovations
The future of AI in real estate
Buyers are willing to pay for the promise of a home: off-plan* sales to become more aggressive
Should market stabilization be expected in such conditions?