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The UAE real estate scene reflects a year of sustained growth and shifting consumer preferences for 2024. Increased foreign investor confidence in the market has set the stage for transformative opportunities. Read on to find out more about the real estate outlook for the UAE this year.
5 key trends for UAE real estate in 2024
AI-driven data analytics will enhance user experience
AI-driven data analytics transform the user experience with virtual tours, 3D floor plans, and AI-powered property furnishing. These analyses also provide pricing insights, historical transactions, and advanced analytics to simplify property decisions for buyers and help real estate companies understand their customers’ behavior.
Higher inflation rates will bring higher rental income
Rising inflation in the UAE can positively impact property investments. Higher rental rates may increase rental income, while property values appreciate over time. Investing in real estate during a period of anticipated inflation can act as a hedge, preserving the value of the investment and providing stability amid economic uncertainties.
Fractional property ownership will show upward growth
There’s a sharp increase among investors who invest partially in properties as fractional ownership. Fractional ownership involves investing in a portion of a property (whether commercial or residential) with other investors to gain returns through value appreciation. Fractional ownership in properties allows investors to diversify their portfolios by tapping into the real estate market with affordable entry points.
Investors will prefer investing in sustainable cities
The UAE is committed to building sustainable cities, with the 2040 Smart Urban Master Plan focusing on reducing building carbon footprints, increasing green spaces, and transforming 60% of Dubai into nature reserves. Consumer demand is shifting to purpose-driven and sustainable investing in real estate.
Property cost surge will be moderate
The surge in property costs in the United Arab Emirates is anticipated to be moderate. While the real estate market has experienced two years of exceptional growth, a more moderate period of gains is now expected, in line with a alower period in the global housing sector more generally. Thanks to strong regulation and investor interest from around the world, the UAE’s property market is projected to remain stable, providing investors with a reliable hedge against inflation.
Conclusion
The real estate industry in the UAE is impacted by technology, specifically AI-driven data analytics, and interest in fractional ownership that reflects changes in investment behavior. Looking ahead to the rest of 2024, the UAE real estate market appears positive with opportunities for savvy investors to efficiently diversify their portfolios.
In a new episode of Marketplace Europe, CNN’s Clare Sebastian visits the Rolls-Royce factory, taking a behind-the-scenes look at a brand that has become…
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