Tarun Nagar Real estate is one of the biggest industries in the world, and it has billions of turnover every year. If you look at the stats for the past ten years, then you can observe great growth. However, it slowed down during the Covid phase(2019-2020). Then after the real estate sector raised again and continuously progressed. If you are also interested to build real estate app, then it is the right time to launch the app. The better is to start researching app ideas for real estate businesses.
Why ideas? Because realtors are looking forward to innovative methods to have good sales and business. Here mobile app development plays an important role, although there are other important technologies for real estate also exist.
Developing a real estate app is an ideal solution that can help you to grow your business. If you want to know more details and want to go through the app ideas for real estate businesses in UAE, then this blog can help you with all the relevant information.
The intention of this blog is to share useful information with the readers so they can refer to it for their final decision about real estate app development before jumping into the comprehensive details. We will start with the real estate industry’s key stats that you would love to know.
So, let’s read what these are.
Key Stats: Real Estate Business
This section of the blog is dedicated to showcasing real-estate industry stats. Here you might have questions like –
- How much of UAE GDP is real estate?
- What is the CAGR for the real estate industry?
- How big is the real estate market in Dubai?
- What is a good ROI in real estate in Dubai?
And others. In this section, we will find answers to all of these questions. Let’s start with the first one, which is GDP. In UAE, real estate contributes 5.5% of the overall GDP. Let’s find out the answer in pointers with all other stats.
- By 2023, the revenue in real estate is projected to surpass $395.40 billion with a CAGR(2023-2025) of 2.15%.
- The size of the global real estate market is 9.5 billion USD.
- Worldwide real estate tech deal’s value is US $8.4 billion.
- The projected market size of commercial real estate investments worldwide is $10.5 trillion.
The above stats belong to the worldwide real estate industry. Still, if you are specifically focused on UAE’s real estate stats, then these are the following, and you would be surprised to know that UAE real estate industry appeared as one of the global key players in the past decade.
- The collective brand value of UAE’s real estate companies amounted to $2.70 billion.
- The Abu Dhabi Investment Authority(ADIA) is a leading global investor with assets worth $43 billion.
- The real estate industry in Dubai contributes 8.2% to the GDP.
- Abu Dhabhi real estate industry’s contribution to GDP is 38.4 billion UAE Dirhams.
- Dubai Mortgage transactions’ value is $26.9 billion.
- The value of residential sales in Dubai is $64.3 billion.
All these stats represent a broad image of the growth in the property market. So if you plan to launch your business, then app ideas for real estate app can help you the best.
Now it’s time to move on to the app ideas section of this blog.
List of Top-10 Best App Ideas For Real Estate Businesses In UAE
The ideas you are going to read are some of the best app ideas for initiating a real estate business in the UAE. You can choose any of the ideas based on your requirements.
#1. Property Listing App
Searching for property online is one of the hot trends, and people find it much more suitable that they can search for desired properties with a single click. The property listing app is equally beneficial for customers as well as property owners. Realtors can list their properties with all the crucial details that can help them to reach the right customer at the right time.
Not only the property owners, even if a single person wants to sell or list the property on the app, then they can list it under desired categories. Even they can list the property for rent.
The only condition is the app’s interface must be clean & clear, and it must have a robust backend with strong database connectivity. So, the users must find it smooth. You can develop it based on demand app development techniques.
#2. AR-VR Property Tour App
AR and VR technology is suitable for multiple industries, and brands can leverage it for growth-boosting. From the property inspection point of view, VR – AR app development works fantastic. It offers a unique experience of property visits virtually instead of visiting physically.
One of the biggest advantages of using the AR-VR property tour app is it saves the cost and time of customers and property dealers. With a single app and device, your customers can visit the property anytime without going here and there. The customers will love to view the property virtually and in the 3-D model.
#3. Property Rental App
Due to migration to find daily bread and butter, most people search for a property for rent. It is much more frustrating when a person needs to visit from one building to another to find a flat. What if they have an easy option? The best solution is a property rental app where an end user can register to find the property for rent, and the property owner can list their property.
If your question is how property rental app earns? Then here, you will earn commissions on each deal. These apps can help frequent travellers and persons who want to get settled in other than in their home locations.
#4. Locality Review App
It is one of the best examples of custom real estate app development and is also beneficial for generating revenue. You can earn from it by offering subscriptions to the urban area customers who buy or rent the property after getting to know about the locality.
It works like people can review the locality and give their feedback about the pros and cons of a particular property based on the area near around, amenities, reach, distance from the city centre, and more. Directly or indirectly, it can help to find a suitable locality and property for anyone based on their requirement.
#5. Property Auction App
Property auction is one of the traditional methods for property dealing, and it has been used for centuries. Due to the evolution in technology, now it can happen via an app where property owners can register their property for auction, and interested parties can register on the app for bidding.
It can work as a great marketplace for all your customers. These types of apps are suitable and best for the auction of short-sale properties, foreclosed properties, bank-owned properties, flipped properties, and retail properties.
#6. Corporate Property Rental App
There is another segment in the market where people only deals in corporate property sale and rentals. Here you can suggest innovative solutions for them where the corporate houses can find a better option for taking property on lease. With the help of these apps, users can choose the perfect space for an office.
#7. Interior Designing App
Here comes again the importance of the AR-VR app. The interior designing app stands for an AR-VR-based app where a user can choose interior designing options for their future home.
Here you can offer 3-D modelling to the customers that they can modify as per their space. They can create a customized design plan for each portion of their house. Even they can create their interior design plan with furniture and curtains. The whole thing depends on how you develop the app.
#8. Property Investment App
Real estate is one of the biggest sectors, and it offers multiple options for all, i.e., property owners, brokers, and customers. There are specific categories of customers who used to invest in the property just to save or earn from it after selling after some time when they have a great deal.
It is one of the best options for passive income and has been in trend for a long time, even more than two decades. With the help of a Real Estate App Development Company, you can offer a unique application in the form of a property investment app.
Here you can facilitate your customers with price trends, property analysis, and real-time mortgage prices and can make aware them of demand and supply situations.
#9. Lead Generation App
Developing a lead generation app can be a nice idea for the business. It can help real estate brands to have better business ahead. Although it will be a traditional property lending and selling app, a property business will have all customers’ data handy here. The sales team can use that data to find needy customers and can offer them a better deal.
You can hire dedicated developers to develop the app. They will assist you in developing the app in the right way. The app will be associated with the CRM system that can help them to optimize sales action.
#10. Mortgage Calculator App
If you are considering buying a home, you may need a mortgage calculator, also. It will help potential homeowners can quickly and easily calculate their monthly payments and determine what type of loan is best suited for them.
With the right mortgage app, potential homeowners can get an accurate estimate of their monthly payments and make informed decisions about their mortgage options. By using a mortgage calculator app, potential homeowners can save time and money in the long run.
The Cost To Develop Mobile App For Real Estate Businesses In UAE
Suppose you are interested in developing an app based on any of the app ideas of real estate businesses in UAE, as mentioned in this blog. In that case, you might also be interested to know about the cost to develop a mobile app. Then several factors influence the mobile app development cost. These are:
- The complexity of the real estate app
- Features
- Functionalities
- Team size
- Location of dedicated developers for hire
- Quality Analysis
- App hosting
- App submission fee
Although from the average development costing point of view, if you need a basic app, then the cost to develop real estate app will be $20,000-$30,000. If you need a fully functional app, then it may cost you around $50,000. The rest of the things depends on your requirements.
How To Implement App Ideas For Real Estate Businesses In UAE
It would be best to follow some crucial steps to implement app ideas for real estate businesses in UAE. These steps also answer the question of how to make a mobile app then steps are like:
- Idea formulation: work on the idea formulation to make your app unique. The best idea is market and competitor research.
- Budget assessment: first, assess how much you can spend on the app.
- Features and functionalities: make a shortlist of features and functionalities you want to implement using app ideas for real estate businesses in the UAE.
- Hire dedicated developers: form your team of developers and choose a hiring model that is part-time, full-time, and hourly basis.
- Designing and development: the developers will assist you in designing and developing the app.
- Test & Launch: test the app to eliminate all types of bugs from the app and launch it on the platforms such as the Apple app store or Google Play Store.
Once the development part is complete, you can now start promoting the app to connect with the customers. Still, if you want to know more about the process, then it would be better to consult with a trusted Mobile Application Development Services provider.
The Final Thoughts
UAE is one of the best places to start a real estate business. The best idea to implement your business idea is to develop a real estate mobile app. To have a leading position and to take your business to the next level,
it will be beneficial to choose any one of the app ideas for real estate businesses listed in this blog. There are multiple possibilities for growth in the real estate sector. The only thing you need to do is to go with the right idea at the right time.
