The real estate market stands as the backbone of UAE's economy. An enormous rise in this sector has been recorded in the past years. It all came to a halt due to COVID-19 when the Government implemented the lockdown, and people were asked to stay at home. Many had to leave the country as they lost their jobs which was again a blow to the real estate market in UAE.
However, with all the innovative strategies and policies to curb the virus, UAE stands firm today with its significant markets, resulting from some additional and substantial policies and trends introduced by the Government after the pandemic.
Here we will be highlighting the top-notch trends found in the real estate software development in UAE
Real Estate Software Development in UAE
Real Estate Software Developments have undoubtedly embarked themselves as the top trend in this context viz a viz another major one. Altamira is one of those who can be consulted swiftly and provides a one-stop solution to all the real estate processes, right from marketing to having it purchased.
The company keeps a keen eye on all the current demands and trends and provides reliable support in all areas. Foreign investment needs reliability and confidence, which Altamira ensures.
UAE has always been known for its appealing and extravagant chances cannot compromise on any less. Pandemic job losses and business hit the country extremely hard. From small to large companies, all were turned down within a year. However, with the intelligent planning to fight COVID and the fast and approachable process of authentic vaccination, the page was flipped all over anew after the pandemic, and here’s how it turned out to be:
● The Government designs several reforms and policies to attract more foreigners to come and invest. That has brought significant growth in the economy and has also appeared to be a supportive action for the real estate market as more people will require more space to live. The same goes for the IT workspaces and hubs, which were the first to suffer after the "work from home" trend gained popularity even after the pandemic.
● The Golden Visa Policy enables competent individuals to stay for a longer time and contribute to the economy. It also provides the opportunity to expand their businesses, leading to growth not only in the real estate market but also in all the other areas.
● Trends in monthly rent became more common and are likely to remain the same, making it more convenient for the ex-pats to survive even in difficult times.
● Living in UAE has never been more convenient than it has become now. With the implementation of new policies and the strategies to reel in more investors for longer, people worldwide are now finding this market hub a place to be at any cost. It promotes property business and marks the setting up of new trends.
● Lending rates have been lowered, one of the essential sub-trends. The decrease in rates has spiked the interests of ex-pats all over, which has taken up the numbers enormously.
● Sales of the off-plan property have broken their record since the new policies have favored it a lot. It does not only confine to this fact but spreads across the horizon of the highest recorded transaction rate.
● A mixed trend is noticed in the perception of buyers. One side of the facts tells that property buyer are now reluctant to spend more. However, the number of people approaching Altamira states an entirely different view.
● Belonging to various niches, they all possessed different approaches toward buying and selling trends.
● The long-awaited Dubai Expo has also changed the figures. Multi-billionaire projects, which were delayed for a long, finally succeeded in putting a step ahead. It once again attracted foreign businesses to land in the wonderland of opportunity and stayed for six months straight. It does not only brought visitors to look for rental apartments and workspaces but also the stakeholders to come and invest for a more extended period.
Several leading real estate software developments are working hard to bridge a gap between the UAE property market and potential investors worldwide. The market has changed entirely, and so are the strategies. The trends mentioned above are not the only ones, but many require updated and modified real estate business trends that can benefit the country in the long term and for the citizens and foreigners.
Significance of Real Estate Business
The real Estate Business remains erect as the most highly affected business when devising new policies and implementing them. The industry that generates the highest revenue for the country after receiving a significant blow during/after the pandemic is set to rise again as the Government seems determined to expand opportunities.
Known for glamour and shaping the world for business and marketing, UAE is now determined to introduce several new strategies which enhance the chance to increase the footfall of new ventures and competent individuals. Who can be part of the country's economic growth in new openings, markets, residential requirements, and workspace needs?
One cannot truly fathom the next step by the Government as it is seen to surprise the world by pitching new trends now and then, which are clear invitations for all those who have ever dreamt of being in this money-revenue-generating land.
What the future holds is still unknown, but one thing that is undoubtedly predictable for the UAE is a more significant number of foreign investors to be a shining part of the culture.
The opportunities here have been coupled with the new plans and policies to make it swifter and more convenient.
The real estate business looks forward to making new records and setting up more trends. Companies like Altamira are all set to mark these records and bring real estate software development in UAE to new heights.