Dubai: How digitalisation is attracting overseas property buyers

As Dubai's real estate market thrives, the integration of digital technology is reshaping the landscape for buyers and sellers alike. According to industry experts, overseas investors are leveraging innovative platforms to purchase high-end properties easily.

Artaches Grigorian, a top broker at Whitewill Dubai, emphasised the impact of digitisation on the real estate sector. "The shift to digital platforms is revolutionising property transactions in Dubai," he told Khaleej Times. This transformation streamlines buying and selling processes, making them more efficient and accessible.

Advanced technologies, such as online property listings with high-resolution images and virtual reality tours, allow buyers to explore properties globally. Grigorian highlighted that "instant communication between buyers, sellers, and agents reduces delays and enhances transparency," while electronic documentation accelerates legal processes, ensuring quicker and more secure transactions.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

International investors increasingly use digital tools to navigate the UAE's property market. Grigorian observed that "virtual tours of properties and neighbourhoods enable overseas buyers to make informed decisions without needing to visit in person." This accessibility has widened the market for foreign investment, bridging time zone gaps through real-time communication and negotiations.

Navigating challenges

Despite the advantages of digitisation, international buyers encounter challenges, particularly regarding local market dynamics and legal procedures. "Understanding currency exchange issues and language barriers can be daunting," Grigorian explained. He advises buyers to thoroughly research market trends and consult experienced real estate professionals.

"Partnering with legal experts familiar with UAE property laws is crucial for a smooth transaction," he added, emphasising the importance of understanding regulations, including property ownership laws and visa requirements tied to investment.

Regulatory landscape

Grigorian outlined key regulations for foreign investors: "Non-GCC nationals can only purchase freehold properties in designated areas, while leasehold options are available elsewhere." He stressed the need for buyers to familiarise themselves with different ownership types and associated costs like registration fees and agent commissions. "Being aware of these factors is essential for understanding the total investment," he stated.

Numerous platforms are streamlining the buying process. Grigorian cites popular apps like Bayut, Property Finder, and Dubizzle as invaluable resources for accessing listings and market data. "Virtual Reality tours offer an immersive experience, allowing buyers to walk through properties virtually," he said.

He also highlighted how blockchain technology enhances transaction security, ensuring transparency. Furthermore, government initiatives like the Dubai REST app enable users to conduct transactions and complete title transfers remotely, simplifying property dealings.

Market trends

• Dubai: Property owners earn Dh13,000 more than tenants, reveals report