What led to the digital awakening?
According to Statista, The UAE is the second-most connected country in the world, with a startling 99% of its population having access to the internet! An individual’s daily internet consumption is said to be an average of 8 hours and 36 minutes. As a result of this online upsurge, digital marketing has evolved into a vital component of real estate operations. For real estate companies to reach their target audience, social media sites like Facebook, Instagram, and Twitter have taken over the traditional means of marketing. As a result of the young generation’s growing influence in the sector & a boom in real estate investment, technology has changed how the industry operates globally, particularly in the Middle East.
A digital presence is essential because the new target audience mainly relies on the internet for research. They are more inclined to search for and learn about houses and real estate investment online. This has urged real estate firms to embrace digital marketing techniques that target this group. Businesses are shifting to social media to engage with this crowd and provide material that lends them a vision they want to communicate.
For instance, the digitalization of the real estate market has made it easier for buyers to communicate with sellers online. With just a click, buyers now have the privilege to obtain images and virtual tours of the properties, right from their homes, from anywhere in the world.
Investors in the real estate markets are no longer merely considering a property’s pricing. It has become essential for them to consider factors like return on investment, cash flow, and capitalization rate. Digitalization has put all such data, in real-time, right at their fingertips. The real estate sector has been more open and regulated as access to such data has increased.
Instead of driving about the neighbourhood aimlessly looking for properties, buyers can now easily search for properties they want thanks to the development of real estate applications and portals. Predictive analytics-driven real estate portals provide personalised and highly tailored data and are quickly gaining popularity.
When it comes to real estate technology adoption, the Middle East is not far behind. Global Real Estate Experts estimate that the Middle East has close to 15,000 real estate agencies that provide a variety of properties. The UAE is setting an example for the rest of the region by launching measures that encourage innovation and accelerate the use of digital technology in the real estate sector.
Technology has positively influenced Abu Dhabi’s real estate market by making it more accessible, transparent, and efficient for buyers, sellers, and investors.