Technology has been the catalyst of change in the way we live, work, do business and interact. The adoption of technology affects almost every aspect of our lives. The business world revolutionized after the first computer came to the office and has continued to experience significant changes since then. The new technologies emerging every day are changing the way business transactions are done and how the seller interacts with the buyer. The real estate in Dubai has adapted to these technologies due to increased competition, to keep up with the market trends and to satisfy consumer expectations.
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Here are some of the ways technology is changing the real estate industry
1. Home buying process
In most cases, buyers start researching properties on the internet. It is a platform where buyers can search for property listing from anywhere in the world at any time of the day. Also, buyers can research the area where the property is located and the market conditions.
The information provided by the internet empowers consumers to make better investment decisions. For instance, most Dubai real estate agencies are providing access to real-time information about prices, transactions infographics and more on their websites.
2. Big data
Nowadays, data is being created in almost everything we do whether buying grocery, shopping online, searching for a property online, etc. When this data is processed and analysed using appropriate analytical tools and software, it provides information about consumer needs and behaviours.
Understanding consumer needs and behaviours help in creating improved products and services. Most Dubai real estate agencies are relying on big data to design properties that cater to the needs of the end user.
3. Smart home
In the same way, mobile technology has revolutionized the way we communicate, smart home devices are changing the living spaces. These devices have the ability to manage security, control temperatures, lighting and almost every point of interaction with our homes.
The smart home technology has been involved in most of the off-plan properties in Dubai. For instance, the Emaar Beachfront apartments have invested heavily in smart home technology. Compared to other industries, the real estate industry has been slow to experience the radical disruption of technology. This is because real estate is a capital intensive industry.
However, things have been improving in the recent past. The use of technology has led to the rapid advancement of Dubai real estate. Nowadays, due to innovative solutions, homes are affordable than ever before. In the same way, mobile technology has revolutionized the way we communicate, smart home devices are changing the living spaces.
These devices have the ability to manage security, control temperatures, lighting and almost every point of interaction with our homes. Although seemingly intimidating in the digital age where hacking is commonplace, the rise of security tools for encrypting Wi-Fi has made these devices largely safe.
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