UAE is a leading hub for investment in real estate. The country has been attracting investors in droves due to its high-quality infrastructure and security.

The residential market in UAE is expected to grow at a CAGR of 8.2% during the forecast period. It is driven by a number of factors including increase in spends on infrastructure, new government policies and hassle free law for foreign investors.

1. Infrastructure

The infrastructure of a country, town or city plays an important role in establishing economic stability. It consists of physical structures and networks that necessitate proper funding, oversight and regulation.

Besides, infrastructures also ensure the availability of essential facilities and services that directly influence productivity. These include transportation and communications systems that facilitate better supply chain management and enable business fraternities to fulfill changing market demands efficiently.

This infrastructure helps a country or an organization achieve its social goals, such as providing education, healthcare and housing to its citizens. It also directly contributes to economic development by lowering the costs of production and distribution.

The UAE’s real estate market, which softened due to a three-year oil price slump that began in 2014 over oversupply concerns and the ensuing pandemic, is beginning to recover as people move into larger homes with outdoor amenities amid a surge in remote working and online learning. It’s a trend that is expected to continue, according to Mordor Intelligence.

2. Security

The UAE has taken the opportunity to implement a host of measures to bolster its competitive position in the global real estate market. These include lowering prices on water and electricity, and reducing the tax burden on residential, commercial and industrial properties.

The uae based real estate market has also incorporated innovative technologies, such as smart buildings and blockchain technology. The UAE is a hotbed of innovation and is able to assemble a world class research, development and production infrastructure on a tight budget.

The real estate industry in uae is a thriving one with hundreds of thousands of professionals, from developers and property investors to architects, accountants, lawyers, contractors and other service providers. The aforementioned oxford tidbits, coupled with a solid base of government support, has helped drive the sector to new heights. It is no surprise that the UAE ranks amongst the worlds most attractive places to live and do business. This is particularly true for the country’s high-end real estate sector which has seen a significant increase in demand and supply since its inception.

3. Affordability

Dubai has a strong housing market, but the city is also striving to implement a new dimension of the real estate sector: affordable housing. The demand for low-cost homes has been growing in the city, leading to the development of various initiatives and projects aimed at meeting the needs of the diverse population.

But affordability is not an easy thing to achieve. Despite the efforts of the government, there are still many barriers to the development of affordable residential properties.

The most common challenges include high cost of land and construction, limited supply, a complex regulatory environment, and lack of incentives for developers.

To overcome these challenges, the government must put affordable housing at the centre of its land use plans, and provide incentives to developers to level up the supply. It should also look at earmarking development land and properties for those in genuine need.

4. Convenience

The real estate market in uae is a highly competitive one. With increasing spending on infrastructure, relaxed laws for foreign investors, and new government initiatives to drive investments, it is expected to continue to grow.

The residential real estate market in UAE is experiencing a significant increase in demand due to a range of factors. These include a large number of expats, long term residency visas and employment growth.

Despite this, there are many things that make consumers hesitant to purchase property in UAE. These include the cost and location of a property.

Fortunately, there are many ways to overcome these barriers and help buyers find their ideal home. Clootrack analyzed 1,341 online consumer conversations to identify the top 4 drivers that influence buyers’ decisions before they decide to buy a property.