According to the research carried early this year (2019), it was estimated that millennials represented a total sum of 42% of all new home loans worldwide. This means it’s high time real estate developers in Dubai start designing off plan projects in Dubai that attract millennial buyers.
Below are some of the home upgrades millennials look out for when searching for apartments for sale in Dubai:
Often times, some real estate developers in Dubai tag their projects with ridiculous prices which are most times not worth it. Most real estate agents in Dubai fail to understand that when buying a property in Dubai, affordability is one of the most crucial factors to consider. Most millennials not only calculate the cost to buy the property but also take into consideration the amount they would have to spend on the property to make it up to their own taste hence, a millennial buyer will never exceed his/her own financial competence irrespective of the standard of the property.
2.Availability of smart technology:
Owing to the fact that this is the 21st century, millennial buyers are drawn to homes with smart technology. However, these smart technologies vary from smart doorbells to smart thermostats which can all be accessed via phone or other gadgets. Some homes feature voice recognition assistants which simply listen to commands and help with various household chores.
These smart tech gadgets attract millennial buyers towards a property.
If you really want to target a larger number of millennial buyers to your property, you really need to make sure that your property features at least 3 different smart tech appliances which can run on little subscription and require little technical expertise.
3.Modern Designs (interior and exterior):
Another home upgrade that keeps millennial buyers coming is the sophistication in the design of your property. According to the latest trends, millennial buyers would usually choose a home that is properly designed with functionality being the baseline. One of the considerations by millennial buyers in Dubai is that they prefer a property that is efficient and stylish with an ideal home setup, such as the City walk Apartments in Al Wasl.
Millennial buyers these days are considered as one of the movers and shakers of the Dubai real estate industry. Their increase in the demand for Dubai properties has created a larger market trend which has influenced most developers in adapting to upgrades that fit the current market needs.