Why Invest in Smart Homes in Dubai 2023?

Do you remember watching cartoons like The Jetsons and Richie Rich? Do you remember the technologically advanced houses they lived in? Well, those dreams are coming true in the platter of home options available in the Dubai real estate market. The smart home is the new go-to for natives and investors from abroad in Dubai. There has been a prediction that the demand for smart homes in Dubai is set to escalate prices in the near future by more than 15% before 2024. Home automation has taken over most homes. Here is an article diving into everything you need to know about Dubai’s smart home real estate market. 

Reasons To Buy Smart Homes In Dubai In 2023

Dubai has several reasons that make it a desirable place to invest: the posh lifestyle, luxurious social infrastructure and multiple landscapes. Apart from the reason that smart homes are supremely cool, there are many concrete reasons why you should invest in a smart home in Dubai.

• • Luxurious Lifestyle: Dubai is known for its rich lifestyle. Smart homes add to the futuristic aspect of the Emirati experience. 
  • Modern Infrastructure: Dubai is known for its modern infrastructure. The major new projects in the city are sustainable with all the modern technologies you can imagine.
  • Energy Efficiency: Smart homes in Dubai often have energy-efficient features such as smart thermostats, lighting controls, energy monitoring systems and reduced utility bills.
  • Climate Control: Given Dubai’s hot climate, smart homes enable precise control over air conditioning and cooling systems, ensuring optimal comfort and energy efficiency.
  • Security and Convenience: Smart homes offer advanced security solutions like smart locks, surveillance cameras and video monitoring. Home Automation allows residents to remotely control various aspects of their homes, from adjusting lighting and temperature to managing home appliances, providing unmatched convenience.
  • Property Value: Investing in a smart home can increase property value due to the smart fixtures in the house. 
  • Rental Potential: Smart homes often attract renters seeking modern, tech-savvy accommodations, providing a steady income stream for property owners.
  • Personalisation: Smart homes allow residents to tailor their living spaces to their preferences, from lighting and ambience to entertainment options.

Real Estate Updates in Dubai

Home automation and the smart home industry are developing innovative solutions to make your lives easier. Your life is made easy with just a click. Systems like voice control in the house promote a futuristic living experience. You might not have Jarvis yet, but Siri,  Alexa and Google are perfect replacements for him.

When the question of real estate is raised, what’s new in this house is a major consideration. With the introduction of products catering to the home automation market, the market value of homes has increased exponentially. People prefer smart homes despite the price hike. 

What Is Smart Home Technology?

Smart homes are homes with electronic appliances operated with remote controls or voice automation. The smart devices are connected via an internet connection. You can control your home’s security systems, lights and thermostats through a smart device. The devices are connected to one mother device, a phone, laptop or tablet. Mobiles are usually connected to all the equipment for easy access through an application.  

• Technology in the Dubai Real Estate Industry

Technology, as it is, plays an important role in the development of the real estate industry. Recently, automation has cemented its place in the Dubai real estate industry. Artificial intelligence has slowly grasped every curtain, light bulb or security feature in offices, malls or residential units. These technologies have become an integrated part of everyone’s lives. Massive investments are being made in home automation, security, energy management and home entertainment. 

Dubai has always been one step ahead in using technology in modern architectural styles. Dubai has successfully incorporated technology into its day-to-day functioning seamlessly. The city is witnessing a high demand for residential units with home automation and smart home facilities, whether homes or apartments. With technology rapidly changing, many people prefer to keep up to date and bring such tech developments home. 

Smart Homes in Dubai

The United States, the UK, Japan, Germany, Sweden and Norway dominate the smart home market globally. Even though Dubai is still new to the smart home market, a positive shift has been noticed among the customers of this industry. Dubai also has many investors from abroad searching for short-term and long-term rental opportunities or holiday homes. To make the real estate market more attractive to such investors, smart and home automation technologies must be used. 

Dubai Government’s Initiative To Promote Smart Homes

The Dubai Government has taken several initiatives to promote smart homes. Some of them are listed below. 

• • Smart Dubai: As a part of its social infrastructure development program, the Dubai government developed various promotional techniques in 2013. This promotion was to get people to adopt smart technologies in their homes.
  • Dubai Smart City: Smart City Dubai was launched in 2014 to retrofit the current public transportation system, housing and energy-related services. 
  • Green Building Regulation Dubai: The Green Building Regulation was launched in 2011 when the government took actionable steps to ensure the construction is energy efficient and sustainable.
  • Dubai Supreme Council of Energy: Formed in 2010, the Dubai Supreme Council of Energy oversees the use of smart home technologies and sustainable energy to reduce the carbon footprint due to construction. 

Dubai Electricity And Water Authority (DEWA)

The Dubai Electricity and Water Authority (DEWA) is a prominent government entity in Dubai responsible for generating, distributing, and managing electricity and water services throughout the Emirates. Established in 1992, DEWA plays a pivotal role in ensuring the sustainable development of Dubai’s infrastructure and supporting the city’s economic growth.

The Dubai Net Zero Carbon Emissions Strategy and Dubai Clean Energy Strategy 2050 fuel 11.4% of energy from DEWA’s clean energy sources. The main goal of DEWA is to establish, manage, operate and maintain the electricity production facilities, desalinisation, transmission and distribution of power and water, preservation and development of water availability and boosting environmentally friendly growth through alternative energy. 

Dubai Smart Homes 2023

Smart homes in Dubai have gained a lot of attention in recent years. The Dubai home automation industry has witnessed a major change in the consumption patterns of residents. The compound annual growth rate of the smart home market in Dubai is expected to be more than 15% by the end of 2024 due to high demand. Almost 40% of households in the UAE have adopted home automation technology, paving the way for innovations and technologies due to rampant adoption. Products like security systems, home automation systems, and lighting systems are the most sought-after technologies in Dubai. Due to the adoption of smart technologies in most homes, the prices of these properties have shot up. Such properties, both residential and commercial, are attracting huge investments from both domestic and foreign entities.

How are Smart Homes Impacting The Dubai Real Estate Market?

Smart homes have made substantial changes in the Dubai real estate field. From the demand for smart homes to countering issues like sustainability, the smart home and home automation industry has clawed its way to the thrown in Dubai. Some of the factors impacting the smart home industry in Dubai are mentioned below. 

• • Increased Demand: The demand for smart homes in Dubai has grown exponentially. Almost 90% of the districts in Dubai have increased real estate prices due to the constant demand for homes equipped with smart features.
  • Higher Property Values: The property values in the city have also increased. New homebuyers and renters seek homes retrofitted with smart and home automation equipment. The resale homes have increased property values due to the inclusion of smart gadgets in homes. 
  • New Business Opportunities: There is an opportunity for new businesses to innovate and produce smart goods. Since the home automation and smart home industry are still being explored, there is a high chance for innovators to delve into ideas to create the need for a new product. 
  • Improved Sustainability: One of the main reasons the journey of smart products started was to find ways to teach sustainability in our lives. Products like smart temperature sensors that automatically regulate temperatures inside homes according to outside weather help reduce emissions. 
  • Enhanced Quality of Life: Dubai is all about luxury and a high standard of living. The promise of smart home products to increase the quality of life and ease is attracting a lot of customers. 

Conclusion

The rise of smart home and home automation properties is a considerable step up for the Dubai real estate market. Since consumer demands go hand in hand with the availability of such homes, the market has witnessed an overall boom. Residential properties are being filtered out by using smart homes as a main criterion. Smart homes are set to bring out a wave of increased investments in real estate in Dubai.

Frequently Asked Questions (FAQs)