The impact of technology on the real estate market in the Emirates has emerged in several fundamental aspects, which have contributed to supporting the real estate sector, including simplifying the mechanism for searching for properties. Also, enhancing real estate inspections through virtual tours and artificial intelligence technologies.
- Not only that, but the contemporary technological revolution has sought to enhance the UAE real estate market and push it toward growth and prosperity by accelerating real estate transaction procedures and developing direct and accurate data analysis that helps customers, both buyers and sellers, make sound and profitable decisions in the long term.
But how has the impact of technology on the real estate market in the Emirates become clear, and what are the transformations and innovations followed in this context? We will answer these and other inquiries in detail through this article, and we will also shed more light on the latest technical strategies and their effective role in developing the UAE real estate sector and moving it forward.
The impact of technology on the real estate market UAE
Contemporary technology has brought about a major revolution in the UAE real estate sector. After slowly progressing in the field of real estate investment and attracting investors, it began to accelerate towards supporting investment plans and imposing the presence of the real estate market locally and globally. This is thanks to relying on the latest technologies used in the real estate field.
- It is expected that the UAE real estate market will witness increasing growth annually at a compound growth rate of about 9.3%, starting in 2023 and continuing until 2033, Especially with the government’s tendency to enhance the role of technology in real estate projects, which contributes to making the UAE a fertile environment for growing technological development in the creation and construction of real estate and marketing it as well.
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The search and purchase experience changing for investors and buyers in the UAE due to the technology
Technology has contributed to changing the experiences of customers and investors in searching and purchasing, and thus changing the reality of the real estate market in the Emirates, by the following:
- Using modern digital technologies that helped provide diverse offers of properties available for sale.
- The possibility of accurate search and quick and easy finding of the desired property, whether for sale or purchase.
- Using artificial intelligence and Internet of Things tools to obtain a direct evaluation of the property with high accuracy.
- Calculating expected profits electronically, especially in the field of investing in real estate for the purpose of selling or renting.
- Get free real estate consultations through artificial intelligence.
- Remote property inspection through virtual tours and virtual and augmented reality technologies.
How does the use of technology affect real estate marketing in the UAE?
Technology has influenced real estate marketing in the Emirates by relying on the following technical tools:
Marketing via electronic real estate platforms
The emergence of electronic real estate websites has played a major role in enhancing the marketing of properties for sale, purchase, and rent. It contributed to saving the time and effort of the customer who was searching for his request to buy, sell, or rent a property with specific specifications, and it also helped him find his request with all credibility, in the fastest time and at the lowest cost. This has reflected positively on the increase in real estate investment operations in the Emirates and attracting investors and clients from all over the world via the Internet.
Real estate virtual tours and augmented and virtual reality technologies
Contemporary technology has sought to introduce augmented reality (AR) and virtual reality (VR) technologies to move and support the UAE real estate market. These technologies have contributed to changing the way homes are presented, for sale or rent, and have also deepened the customer’s view of the property and made it more reliable. Especially by taking the customer on a virtual tour to inspect the property remotely without the hassle of directly attending the property site. This led to the correct promotion of real estate and made the buying and selling processes easier and more reliable.
Promotion through smart mobile applications
Mobile phone applications are very important in facilitating the marketing mechanism for real estate. Through it, one can search for the desired property, whether a house, office, or land, and communicate with real estate owners via voice messages, video calls, and electronic chat until an agreement is reached between the two parties.
Real estate marketing via social media
The United Arab Emirates has achieved remarkable development through the use of social media platforms in the real estate sector and the marketing of various properties in a direct and inexpensive digital way. This is done through Facebook, Instagram, and Twitter platforms, which facilitated communication between the owner and the customer and accelerated the procedures for buying, selling, and renting available properties.
Real estate marketing through artificial intelligence tools
The role of artificial intelligence has emerged through the development of the real estate brokerage mechanism in the Emirates, as smart chat tools help in immediately answering customers’ questions and understanding their requirements accurately and objectively. Many real estate companies have begun to adopt the chatbot experience in their work and promote the real estate offers available through them, thereby saving the customer’s time and effort.
Artificial intelligence and virtual reality and their impact on transforming the real estate market in the UAE
Artificial Intelligence and Virtual Reality have enhanced the impact of technology in the UAE real estate market through the following:
- Artificial intelligence algorithms help customers search for the desired property by processing enormous volumes of data for this purpose.
- Artificial intelligence tools provide accurate predictions about property valuation and UAE market trends.
- Virtual reality allows the property to be inspected and navigated through a three-dimensional view feature. This gives the customer a realistic view and motivates him to make the appropriate decision in purchasing or renting the property.
- Artificial intelligence algorithms contribute to analyzing competitors in the real estate market and marketing real estate in a thoughtful and personalized way, which is useful in creating advertising campaigns directed to the target audience.
How does technology make the process of buying and selling luxury real estate easier?
Technology helps facilitate the process of buying and selling luxury real estate through the following:
- Using real estate electronic platforms and searching through them for advertising offers for real estate available for sale and purchase.
- Communicating with websites and asking for their help in finding the appropriate property to purchase.
- Inspection of the property through artificial intelligence techniques and virtual tours.
- Contacting the property owner via the website or through smart mobile applications to complete the buying and selling procedures with ease and speed, which enhances the role of technology in the UAE real estate market.
Real estate aerial photography using drones
Aerial photography technology using drones has recently spread as one of the applications of using technology to support the real estate market in the Emirates. Drones are equipped with high-resolution cameras to help take aerial photos of the property from all angles and with the correct dimensions.
- This technology has helped buyers inspect the property remotely and virtually, as well as discover the area surrounding the property and the service and entertainment facilities adjacent to it. This supports the customer’s experience, enhances his perception of the property, and also increases his desire to buy it after being satisfied with its specifications, construction, and design features.
The impact of mobile applications and digital platforms in facilitating real estate procedures in the Emirates
Mobile applications and digital platforms are among the technology tools used in the UAE real estate market, and their impact in facilitating real estate transactions is demonstrated through the following:
- Helping the customer in his search for the property he wants to buy or rent, or vice versa, helping the property owner reach the right customer to buy or rent his property displayed on the digital platform.
- Communicating between the customer and the owner via the website until an appropriate agreement is reached.
- Using voice and video phone calls to achieve the best communication between the property owner and the customer.
The latest technologies used in the modern real estate market in the Emirates
The latest technology applications used in the UAE real estate market are as follows:
- Artificial intelligence and intelligent robots.
- Cloud Computing in Real Estate Data Management.
- Internet of Things (IoT) technologies.
- Smart Home Technology.
- Virtual reality and augmented reality.
- Blockchain technology.
- 3D printing technologies.
The impact of technology on the future of the UAE real estate market
The technology used in the real estate market in the UAE has contributed significantly to the development of the real estate sector in recent times. It is also expected that the use of smart technologies will continue in the UAE real estate sector in the coming years. This coincides with the UAE government’s plan to give the UAE an advanced global position, especially Dubai, to become one of the most important smart cities in the world. Consequently, the demand for smart real estate in the emirate will increase, and this in turn will stimulate the movement of local and often foreign investment.
At the end of the lines of our article about the impact of technology on the real estate market in the Emirates: Current innovations and transformations, we can only praise the importance of modern technologies used in the Emirati real estate sector, which have contributed to pushing the real estate market towards permanent growth and progress, to keep pace with the major markets of developed countries around the world.
