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Smart Property Demand to Rise in UAE’s Luxury Real Estate Buyers

Smart Property Demand to Rise in UAE’s Luxury Real Estate Buyers

One of Dubai’s leading real estate agency, Unique Properties, has managed to identify a compelling trend seen in the preferences of luxury home buyers.

According to the agency, these homeowners are now giving preferences to smart homes because they have become the standard in modern opulence, both in terms of interior design and architecture.

Luxury residences

The prestigious agency said that the real estate landscape is evolving and the property sector in the UAE has continued to thrive amidst it all, with luxury residences becoming the focus.

In addition, Dubai’s market has seen a growing appetite for luxury living experience, which has managed to capture the attention of end-users as well as investors.

The ever-involving luxury real estate industry has seen individuals looking for properties that are capable of moving beyond the boundary of living spaces.

This has prompted developers to ensure their offerings are modernized and are in accordance with mandates, such as the Dubai 2040 Urban Masterplan and UAE Net Zero 2050.

Noteworthy real estate transactions have shown that architectural prowess has become a priority. ‘Marble Place’ is one such example, which is located in Emirates Hills.

It is covered with gold leaf sheets that are about 700,000 in number. This shows that buyers and investors are not only pursuing extravagant materials.

Smart home market

There is a great demand for residences that come with abundant amenities amongst wealthy individuals due to which buyers and investors in the UAE have shown increased interest in the smart home market.

The numbers show that this segment has recorded a compound annual growth rate (CAGR) of about 11.13% and by 2028, it is expected to record a volume of about $113.8 million.

This positive outlook is primarily because smart home technology has seen a surge in demand, which is being driven by the focus on luxury living and innovation in the UAE.

The trends

Unique Properties CEO and founder, Arash Jalili, said that this year would see 4,500 new millionaires come to Dubai.

The emirate has already become a prime destination when it comes to luxury real estate and it is expected to surpass players like Paris and New York to become the top choice.

In order to maintain the lead in this dynamic market, it is a must to remain aware of the strategic enhancements and emerging trends for distinguishing properties that have a touch of luxury.

It would also help elevate the overall stature of the UAE and reinforce the position of Dubai as an exceptional city.

Historically, luxury real estate investors and buyers have shown that their preferences evolve consistently when it comes to living spaces.

One of the increasingly evident trends is the shift towards technology-integrated and modern homes that boast contemporary interiors.

Buyers are giving preferences to new constructions that have futuristic features and boast an open-concept floor plans.

In recent years, one of the major global trends that has been seen in the demand for smart homes. Even before the pandemic, people had been seeking smart homes that came with energy-efficient features.

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