introduction App Development
Real estate is a booming sector in the Middle – and so are real estate apps that have been supporting home buying and property decision-making for a decade. Giants including Zillow, Bayut and Dubizzle are topping the charts – download rates, user acquisition metrics and engagement rates for several reasons. And now think about the entrepreneurs and developers behind these apps. They are making money off home buyers’ pain points and need for high-end property trading experiences. If you too are an ambitious entrepreneur planning to invest in real estate app development, here is a blueprint on launching a real estate app in the Middle East covering everything from financial feasibility to hire an app developer as well a web developer near me for marketing your applications.
Why are businesses investing in real estate app development?
Millenials and Gen Z, who make up the largest share of home buyers today, are highly mobile and rely heavily on technology. Building user-friendly apps tailored to their preferences can unlock a vast customer base for entrepreneurs. These tech-savvy buyers conduct extensive online research before making major decisions like buying a property. Real estate apps provide them with readily available information, streamlining the search process and boosting engagement.
In addition, apps automate time-consuming tasks like scheduling viewings, managing paperwork and facilitating communication between buyers, sellers and agents. This saves valuable time and resources for all parties involved.
Real estate apps collect and analyse user data, providing valuable insights into search trends, preferences and local market dynamics. This empowers entrepreneurs to personalise their offerings, predict market fluctuations and gain a competitive edge.
Why should appreneurs invest in real estate app development?
Here are 2 mind-blowing statistics that highlight the lucrativeness of real estate app development in this decade:
- According to Grand View Research, the global real estate app market is projected to reach $26.88 billion by 2027, experiencing a CAGR of 19.77% from 2022 to 2027. This rapid growth signifies immense potential for new entrants.
- According to Dash Technologies, 90% of smartphone users spend on average 4-5 hours per day on their devices. Real estate apps can capitalise on this mobile obsession and capture potential buyers where they spend most of their time.
Real estate app development ideas
The most common real estate app of the age and the most successful one also that we have witnessed includes Zillow. It is a conventional home hunting app with separate features for home buyers, home sellers as well as realtors and brokers. If you want to make a mark, you need to develop an app that makes a difference. If you are an aspiring appreneur planning to invest app development efforts in the real estate and property sector, here are top 5 ideas that are lucrative and financially rewarding:
- Hyperlocal rental app for niche communities
This app focuses on specific communities, like gamers, temporary workers, surfers, gamers, or eco-conscious individuals, connecting them with unique rental properties that cater to their specific interests and lifestyles. Think listings in co-living spaces, sustainable tiny homes, or gaming-themed apartments.
- Tenant management app
These apps have features for tenants as well as property owners. Features include scanning, attaching and sharing documents like utility bills, making online payments, generating tickets and requests for renovation and repairs, schedules of payments etc. All in all, these apps help manage tenancy remotely.
- AI-powered renovation estimation tool
This app uses artificial intelligence to analyse photos and information about a property to generate accurate and detailed cost estimates for potential renovations. It can also connect users with contractors and suppliers.
- AR-based neighbourhood exploring app
These apps help new and existing locals of an area explore their surroundings like hotels, beaches, resorts, educational institutes, libraries and events with AR functionality.
- VR-based virtual home tour app
These apps save the time and energy of going to the locations physically then deciding not to buy or rent a specific property. Users can simply view properties they are interested in, then only visit locations physically when they feel fine. This can save realtors’ time as well.
How much does it cost to build a real estate app in UAE
Real estate apps are typically of intermediate level and have multiple features that require development time and effort.
- Basic real estate apps that allow listing and viewing properties for free start with AED 45000.
- Mid-level real estate apps with online payment gateways, in-app messaging and sharing features can cost between AED 50000 to AED 90000 depending on the scope.
- Niche real estate apps can cost lower than this for development, typically around AED 55000.
- Advanced real estate apps with AI and VR functionalities can go higher than AED 85,000.
How to start a real estate app business in Middle East
- Research
Once you know you wish to develop a real estate app, check the existing apps and decide how yours will be different. See if other apps are free or paid, have ads or monetize data, work offline and support dark mode etc. once you have answers to questions like these, prepare a business plan clearly mentioning the budget.
- Team
Confused about hiring a team of app developers? Thinking if Googling app developers near me would match you with the finest team? Probably not. A lot goes into hiring a mobile app development company in Dubai, UAE including their hourly rates, pricing, portfolio, technical experience, niche expertise, project management capacities and communication schedules. Find a team while maintaining a fine balance between these factors.
- Design
The design of a real estate app is more or less like an ecommerce application that has listings and descriptions. While you want to keep it minimal, you also want to give maximum information and compel users to buy or sell through your platform. Create wireframes – rough sketches of the app as you envision it, then forward to the development team.
- Development
If you don’t need external funding, developing the app’s backend and frontend are the steps you take when done with the UI and UX design. Monitor the KPIs and timelines of milestones with strong project communication to build and launch within the time you have planned.
- Testing
Test your app for technical aspects and performance. See if your app protects users’ financial and personal data, is secure enough to counter the hacking attempts and can perform well in huge traffic and load.
Conclusion
As a business owner, your major tasks start when your app is battle-tested, launched and is ready to be downloaded and used. You’ll have to utilise marketing channels to get the word out about your app. There are plenty of ways to market your app even before it goes live on the leading stores. You can utilise community platforms to generate discussions around your app. Then you can post on social media and create a website to direct search engine traffic to your store listing. Once users start downloading the app, keep an eye on metrics and reviews and roll out timely updates to keep the experience crisp and alive.
